Article: First-Time House Buyers Still Finding It Tough To Get Into The Market
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First-Time House Buyers Still Finding It Tough To Get Into The Market
Buying a house in the current housing market is tough. Becoming a first-time house buyer is very tough. Recent research by the Chartered Institute of Housing Cymru (CIH) ( http://www.cih.org/ ) has show just how difficult it has become for people in Wales aged 20-39 to get a foothold on the housing ladder, as the gap between house prices and wages increases.
The study showed that young working households in Wales currently earn on average £27,039, however the cost of a two bedroom house is almost four times that at £107,864. In some rural areas the situation is even worse, with house prices around five times the average household income. The most expensive areas according to the survey were Monmouthshire (£147,084), Cardiff (£142,773) and the Vale of Glamorgan (£138,019).<...
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