Homeowners interested in arranging quick sale property auctions may be interested to hear that home affordability for so-called second-steppers is at its least favourable level for over 25 years.
According to figures from Lloyds TSB, homeowners hoping to take their place on the second step of the property ladder face a “very tough challenge”.
It estimates that this year will also see the lowest annual number of house moves since 1974, with a nine per cent fall on 2010.
Suren Thiru, housing economist at Lloyds, remarked: “The issue of second stepper affordability is a key one in trying get the housing market moving again with the current difficulties in this segment of the market restricting the supply of starter properties for first time buyers as well as preventing many of those who need to move from doing so.”
December 19, 2011 at 10:13 am | Uncategorized |
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