According to the Royal Institution of Chartered Surveyors affordability index survey, house prices are steady with a total price rise of 7% expected for the year.
The predictions for 2007 are not so good at around 3%.
The Royal Institute of Chartered Surveyors commented that it is now three times harder for a first time buyer to get onto the property ladder, as opposed to ten years ago.
Our view
What is interesting is that this accessibility survey also found that access for first time buyers to the housing market is at its worst since 2001, yet far better than in the late 1980’s housing boom.
It seems that we are always hearing news about how hard it is for first time buyers to get started but, maybe there are just more people talking about it now.