Liverpool Property News
Challenges of a first-time buyer
While attention is focused on equity-rich buyers making lifestyle changes, it’s easy to overlook the first-time buyer for whom buying has become a little more tricky – and avocado on toast is not to blame.
First-time buyer property prices have risen from £142,473 in 2010 to £241,025 today. Despite this, the average age of a first-time buyer has remained at 31 for the last 15 years. Help to Buy and SDLT relief have helped.
Rising house prices are not the only obstacles for first-time buyers. The pandemic has led to fewer higher LTV products available and increased mortgage rates on higher LTV products.
Parents are the answer for some. 19% of house sales in 2019 were funded partly or wholly by friends and family, and this figure is expected to rise to 23% in 2020. Source: Dataloft, Halifax, Legal and General
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About The Blog
This Blog looks at what is happening in Liverpool, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area.
Gill Bell - Editor
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