First-time buyers 'should head north'

Posted by Mark Cunningham

Consumers hoping to get their feet on the first rung of the UK's residential property ladder are best off searching for houses in the north of the country.

That is according to Richard Horner, northern south sector regional executive for the National Association of Estate Agents (NAEA), who has suggested that, in the wake of the recession, homes tend to be more cost-effective in this area.

"Affordability is better in the north for first time buyers, but the main issue will be whether they can secure employment," he noted.

Last week (June 14th), the Council of Mortgage Lenders stated that home loans issued to first-time buyers increased by eight per cent in April of this year, which may be a sign that the market is recovering following the downturn.

However, Mr Horner insisted that it remains easier for prospective buyers to enter the housing market in the north rather than the south.
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20/06/2011 15:02

News category: Property

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