FTBs 'continue to struggle'
The problem of first-time buyers (FTBs) trying to get on the property ladder is one of the obstacles the housing industry faces in the coming months, according to the Royal Institution of Chartered Surveyors (RICS).
Despite reporting news that property buyer enquiries increased in May, as well as a rising average number of homes sold, the organisation indicated that there are some issues the sector needs to deal with before it can recover.
With the industry in the situation it is, people may see flats to rent in Islington or property to rent in Southwark as a more viable living option for them.
Indeed, RICS spokesperson Ian Perry warned that the market has only improved in a "material way" in recent months.
He suggested that rising unemployment and the general economic climate, as well as FTB struggles, will be problems the housing market needs to overcome during the rest of 2009.
Written by Jessica Telford
Published 9th June, 2009
© 2009 Estates IT Limited
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