A home is within reach if you're in the right place | Mail Online
Property for first-time buyers is more affordable today than at any point in the past eight years – provided they live in the right part of Britain and can put together a substantial deposit.
In almost half of local authorities, the typical first-time buyer home is now within reach of someone on average earnings in that area, according to a Halifax survey. At the market peak in 2007, homes were unaffordable for first-time-buyers in 95 per cent of areas.
Martin Ellis, housing economist for Halifax, says: ‘Significant falls in prices coupled with a slight upwards drift in earnings has made a home much more affordable in many parts of Britain.’
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