Home buying now more affordable

[Nicholas Wallwork]

Buying a home in the UK is more affordable than it has been for the last 12 years, according to new research for leading lender the Halifax. The proportion of disposable earnings devoted to mortgage payment, a key affordability measure, is at its most favorable for 12 years, it says. Nationally, typical mortgage payments for [...]

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[RKnight]

Only if you have a whole load of money lying around to use as a deposit. Unfortunately, Not many first time buyers do hence the average age of a 1st buyer is late thirties...

 

[Russwrites]

Property isn't selling so prices are coming down. In the Scottish Borders there are loads of houses for sale but very few people buying, if people start buying the system can start up once again. At the moment it's dead.

 

[georgesmith80]

I agree, as a first time buyer, raising the deposit funds is very difficult. However if the demand does not increase prices should sink significantly

 

[RKnight]

True, they should keep going down until the tight hold on bank finance is reduced, which is good for investors with access to finance. Now is definitely the time to get involved in property. Although there is not really a bad time, it just takes a bit more work to find the great deals when prices are rapidly rising.

At the moment, rents are rising while house prices are stagnant. A lot of great deals to be had!

 

[Investment Guru]

Yes finding good deals are many nowadays, better be thinking Investing, it would sure help if you have lots of finances available. Home owners dreams of transfer to a bigger property. How about construction? are materials also on a price hold or also rising up?

 

[melissaysb]

It's true that property prices are low and you can easily find a good deal; but people's buying power has gone down. So it is still difficult to buy properties.

 

[Dave_Velasco]

The age is among the factors though - and I agree with that. Not all buyers have that kind of money needed for the deposit. But - in some cases there are those who really take chances on buying their own home at what they see as affordable.

 

[stefk]

Totally agree, peoples buying power is way down to what it was a few years ago. Money is not circulating as much as it used to. If we all had that kind of money then we would be styling ;-) or heading towards another economic crash

 

[georgesmith80]

home buying is more affordable, but now renting is becoming ridiculous.

 

[quoteus1]

Ya,rightly said I never understand why is it so?

 

[annamarie]

If property rate down its very convincing to buy a home. As rents rise and prices stagnate, home ownership is becoming even more affordable, but rising rents create a dilemma for people who can't afford to buy.