Flats to rent in London popular with housing ladder tough to join?
More people may start to look for flats to rent in London as it has been revealed that first-time buyers are having difficulty getting on to the property ladder.
Research by the Home Builders Federation (HBF) found this week that fewer people are buying their first house now than at any point over the last 35 years.
An average first-time buyer is around 37 years old and nearly a third of those aged between 20 and 34 still live with their parents.
The company also revealed that in 2009, the construction industry built its lowest number of homes since the 1920s, excluding the war years.
Government spending cuts are causing the HBF, a builders' union which campaigns on relevant issues, to worry that schemes intended to help young people purchase property will be axed.
Executive chairman Stewart Baseley warned that scrapping these projects "will move that first rung further away for many more".
Posted by Chris Price
Published 6th August, 2010
© 2010 Estates IT Limited
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