Affordable property is still available
A UK based mortgage lender may have finally given downhearted first time buyers something to smile about… if geographic location permits that is.
According to a recent property study by the Halifax, there are still certain parts of Britain, which can offer affordable housing opportunities to first time buyers.
Using market data specific to house prices and then profiled against national life quality charts, the lender has managed to ascertain a definitive guide to sourcing the best value homes as defined by area, style and type.
As an example, first time buyer’s who are looking to buy a flat but are limited to a budget of £140,000, would be best advised to isolate their hunting to Buckinghamshire. However, buyers who would better prefer a terraced or semi detached home would get far more home for their money, if their search was confined to area’s within Suffolk and Lincolnshire respectively.
Although there are quite obviously restrictions namely with location, what the report does suggest is that good value property does still exist. If first time buyers are willing and/or can extend their search further a field or are simply more thorough, the chances of finding affordable property is greatly increased.
