The perks of a private property transaction

Posted: 28 Apr 2006 10:10:07 GMT

New research has found that getting a foot on the property ladder is becoming an increasingly testing process for Britain's young couples and singletons.

Incredibly, 42 per cent of first-time buyers are receiving help from their parents to fund the purchase, while thousands are exhausting themselves by taking on a second job.

The new research from Bradford and Bingley also indicates that 43 per cent of first-time buyers have considered giving up buying altogether, such are the trials and tribulations of completing the deal.

Buying a property remains the overriding ambition for many young couples, with 23 per cent working around nine and a half hours in overtime each week to get a foot on the property ladder a little sooner.

With prices continuing to rise, however, many are still finding it extremely difficult to afford the ideal property.

Buying a property privately is one option that is rising in popularity in the UK and buyers are typically choosing this to avoid the extra costs associated with buying through an estate agent.

It is a method that has become particularly popular with sellers, however, who are able save £1000s in commission, while advertising a property online has the obvious advantage that the potential market is huge.


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