Welcome to the Property and Housing Services website. We aim to provide critical information for residents and prospective residents in order to help them solve all their housing and property issues.
In the UK first time buyers now mke up less than a quarter of home buyers, at 22 per cent. The number of first-time buyers dropping below one quarter of all potential buyers is a major worry for the housing market.
In a healthy market, the number of first-time purchasers would be around 40 per cent of all potential buyers, which is close to twice as many as recent levels. These first time buyers are vital to the health of the overall market because they help to complete buying chains and inject some fluidity into the property market.
These numbers will increase government worrys about the lack of first-time purchasers, and it is clear that for the benefit of not just the housing market but also for the national economy, this problem needs to be resolved.
The core issue is that house prices are still too high. Getting first-time purchasers to commit to big mortgages now is making the most of their vulnerable financial state. People can often end up in financial difficulty as a result, and this is where we come in, with information and support for all.
With high unemployment, pay-freezes and redundancies, potential rate rises in the future, and ever tighter lending criteria, it is little wonder that more first time purchasers are renting long-term, or facing real problems.
If you have any questions regarding property and housing services, please don’t hesitate to drop us an email or give us a call.
Here at the Property and Housing Services website we are committed to providing a quality free of charge service to people facing property problems and issues with housing. The government runs a number of schemes to support those with housing problems but often people can fall through the cracks and be left with nowhere to turn. We are here to help. Feel free to get in touch to find out more about Property and Housing Services.