Steps to success for first-time buyers - Telegraph

Steps to success for first-time buyers - Telegraph

If there was a weather forecast for first-time property buyers, the advice might be to stay indoors. The latest figures from Savills estate agents show that the average first-time purchaser has to put down 94 per cent of their annual income, just for the deposit.

This makes a rather gloomy outlook. However, we’ve scoured the dark, economic skies, and have pinpointed more rays of sunlight than you might expect, especially when it comes to new-build properties.

The fact is, Britain’s developers are coming up with a range of incentives designed to attract the first-time buyer.

Some are just cheap, bubblegum-type ideas. But there are plenty of approaches and initiatives that are far more than just half-baked notions.

And we are taking this opportunity to serve them up as a first-time-buyer smorgasbord, peppered with some pungent tips from television property expert Phil Spencer.