Property affordability debated

Posted: 13 Jul 2009 10:00:00 GMT

The actions of the government are being monitored by those looking to buy property, ahead of any potential purchase, it has been suggested.

Graeme Moran, managing director of Metropolitan Home Ownership, a firm created to provide affordable housing choices and homes for low-paid households, indicated that would-be house purchasers are waiting for the right time to make a move.

"People are going to look for more certainty over what government policy is [and] they are going to look for more stability in the financial markets - which probably still isn't there yet," he explained.

His comments came after the National Housing and Planning Advice Unit published research this week that claimed nine out of ten 18 to 34-year-olds in the UK cannot afford the average first-time buyer property.

This equates to more than six million young people in the country who are unable to get on the housing ladder.


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