Article preview: We often hear how much of a struggle it has become for younger people to get a foot on the property ladder. Rising house prices, which are generally considered unaffordable as a multiple of average earnings, have placed property ownership out of reach for a rising number of the millennial generation. It’s therefore perhaps surprising to learn that first-time buyers now account for the majority of home purchases. This is a majority last seen back in 1995. The latest Halifax First-Time Buyer Review found that 372,000 first-time buyers purchased property last year. This represents a 2% increase compared to a year earlier and continues a seven-year long upward trend.
Return of the first-time buyer
This 573 word blog post explains why first-time buyers now make up the majority of home purchases in the UK, with findings from the latest Halifax First-Time Buyer Review sharing the average purchase price, deposit and age of a first-time buyer. Includes an expert comment from Russell Galley, Managing Director, Halifax. Written on 23rd February 2019.
Your purchase gives you rights to publish this blog post on your IFA, financial planner or wealth manager website blog, news or insights page, along with access to the text of the blog post to copy and paste into your blog. You can publish this blog as written or edit it before publishing, and you can post it under your own name.