Housing in UK more affordable for first time buyers, research shows

[Nicholas Wallwork]

The proportion of UK towns and cities that are affordable for first time buyers has risen to its highest level for a decade, according to the latest Halifax First Time Buyer Review. The average house price paid by a first time buyer in June 2012 was affordable for someone on average earnings in 54% of [...]

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[JHMKTG]

Totally "rose tinted" report, heard it on the news earlier this week. All it serves is to get Halifax PR and news headlines. This does not represent the UK housing market. If you do take the time to read it (I havent as I am still reeling from hearing it on the news) I think the majority of "affordable homes" are situated in Scotland, which represents a small portion of the UK housing market.

The reality is housing is not affordable, the banks are not lending (only to each other!!) and housing stock is piling up creating a lock-out situation for home sellers and buyers.

Do not believe all you read!!


James