Press Room
Affordability Improves For First Time Buyers
Around 80% of Local Authority Districts in the north of England are considered affordable for First Time Buyers, according to figures from the Halifax.
The Halifax First Time Buyer Review, which tracks affordability in the UK, found that the proportion of affordable towns and cities in the UK has risen to its highest level since 2003.
Housing affordability for First Time Buyers has generally improved over recent years as a result of the marked fall in both house prices and interest rates since 2007.
Additionally, 95% of First Time Buyers were exempt from paying stamp duty during the first half of 2011. Those getting on to the property ladder in the South East have benefited most from the temporary increase in the stamp duty threshold from £125,000 to £250,000.
Start searching for your new home on email4property today.
-- Ends --
Notes for Editors:
Article date: 8/15/2011 12:00:00 AM