Buyers 'wait' 3 yrs for a terrace house - Telegraph
The number of terraced houses on the market has dropped by 31 per cent since 2007, leaving potential buyers stuck in rented accommodation, according to property website Rightmove.
It also found that prices meant that the only realistic way for buyers to purchase a terrace is to have a substantial deposit – often provided by their parents - the so-called "Bank of Mum and Dad".
Miles Shipside, director of Rightmove, said: “Terraces’ target audience of would-be first-time buyers are stuck in rented accommodation, with 30 per cent of them in our recent survey expecting to stay there for three years or more. Yield-hungry buy-to-let investors or buyers with gifted deposits are the main hopes for a terrace seller.”
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