First-time buyers continuing to struggle?

Posted: 18 Aug 2010 09:01:23 GMT

First-time buyers are continuing to struggle to get onto the property ladder, one expert has indicated.

Ray Boulger, senior technical manager at John Charcol, noted the first-time buyer market has not seen an increase in activity since the downturn in the housing industry at the beginning of last year.

"That, of course, is because of the big deposits that are needed which will tend to be more difficult for a first-time buyer to get than a mover," he added.

Mr Boulger noted individuals moving from one property to another are able to put money down using the capital from the sale of their abode.

He explained there was a "steady pick-up" in 2009 in sales, but the market has been static for most of this year.

The specialist's comments follow the release of a report from the Chartered Institute of Housing, which suggested the golden age of home ownership has come to an end.
 

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