Own Your Home By 25!
I think there are some real signs of optimism for first time buyers looking to get on the housing ladder.
The government will soon unveil its Housing White Paper and experts are predicting it will be very positive in tone.
It will certainly be overdue as young first time buyers have been hit hard in recent years. The bad news is that figures supplied by the Halifax show that the average age of a first time buyer in the UK is 30. They needed a deposit of at least 20% of the purchase price of the property in 2014 and that price was some 4.5 times their annual incomes.
Figures for 2016 showed a price increase of 6.7% compared with the year before and nearly a third of purchasers relied on friends and family for help raising the deposit. The average house price in November 2016 was £217,928.
There is good news, however, as shown in this fascinating link from the BBC News website.
Four couples were interviewed, all first time buyers, and their experiences compared. All are aged 25 or under and none of them had any financial help from their parents. They all made sacrifices, usually their social lives, but the majority managed holidays abroad while they were saving up.
I hope all young people are inspired by these stories and aim to become home owners themselves.
If you are looking to move home in or from the Gloucester area then Express Removals can help. Contact us today on 01452 523676 to discuss your requirements or look around our website www.express-removals.co.uk for more information.