New buyers face housing ‘tightrope’

First-time buyers find it almost twice as hard to get on the property ladder as they did a decade ago, a leading housing charity has said.

Shelter warned of spiralling repossessions and increased homelessness as a result of the struggle faced by families trying to find homes they can afford.

Its annual Affordability Index revealed that mortgage costs swallowed up more than 21% of average household income in 2006 compared to 11% in 1996.

The charity added that it is harder now for people to enter the property market than at any other time since the index began in 1994.

First-time buyers in almost every region face their most difficult struggle ever to secure their first home, research revealed.

Channel 4 – News – New buyers face housing ‘tightrope’

Advertisements

Comments are closed.

%d bloggers like this: