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Rental Properties Urgently Required

First time buyers cannot raise the finance to purchase properties, as a result it is your chance, as landlords, to take advantage of this.

FACT

In the last decade, between 130,000 and 170,000 new homes have been built each year. The NHPAU estimates that housing need is around double that number. "The population is growing and house-building is not keeping pace with it," says Pannell. "If that chronic undersupply continues it will affect everybody. House prices all through the market will continue to increase relative to incomes. That will exacerbate affordability problems for young people, and make it very expensive for those already on the housing ladder to move up it."

FACT

Ten years ago, a first-time buyer had to raise a deposit worth, on average, 16 per cent of their annual income. In 2009, that figure was 64 per cent. The cost of property may be 10 per cent below its 2007 peak, but as a result in changes to available Loan to Values, deposits have increased by an average of 124 per cent

Article Courtesy of Ross Quin @ Morgan Grey
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