First_time Buyer Costs Double

First-time Buyer Costs Double

According to Shelter, first-time buyers are spending twice as much of their wages to get on the property ladder as they did a decade ago.  

A study released by the charity revealed on average first time homes in London cost 4.3 times the buyer’s income compared with 1.9 times in 1997.

Our view

This is the problem with over inflated property prices.  We will now see a period where income pay rises will closely catch up with property price rises.  This will present some stability before we hit another property price rise spike.

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