93% of NAEA agents cannot see the potential for first time buyers having substantial cut through in the market in the next 5 years which is quite disappointing if you are in face a first time buyer. Not only this a further 55% of agents recon house prices will continue to increase making it even more difficult for first time buyers and pushing them out of the market.
The managing Director of NAEA has said "‘The market is notoriously tough for first time buyers. House prices continue to increase and lenders have tight and restrictive lending criteria,’ he also explained that ‘Whilst this month’s figures are positive and a step in the right direction, I’d like to think that with the help of 200,000 new starter homes and the Help to Buy ISA, first time buyers will be given even more help to get their foot on the ladder, however these things may take time to come to fruition,’
With the Conservatives who pledge to build 200,000 new starter homes this has created some great news for the housing market. Also 41% of agents believe that with help from the Help to Buy ISA will be very beneficial to first time buyers, giving them a better opportunity to save up for their home.
All the figures and information provided in this article has been sourced from: http://www.propertywire.com/news/europe/uk-first-time-buyers-2015060410590.html
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