The new data of the National Wide Building Society has found that the first buyer needs to have 5.5 times the typical annual revenue to ride a real estate ladder. This number has increased nine times in London.
“In the third quarter of this year, the UK’s first buyer’s first buyer had a profit margin of 5.5, exceeding the preliminary price of 5.4 in 2007, significantly exceeding the average long -term average of 3.8,” said Andrew Harvey. Masu. , Senior economist nationwide.
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“There is a large gap between the most affordable and most affordable areas throughout the United Kingdom, but this is wide and stable last year. London is still 9.0 and the highest profit margin. Is still below the record high of 10.2 in 2016.
“In 2019/2019, about one -third of the first buyers helped to procure deposits in the form of deposits from 25 years ago in the form of gifts and loans from families and friends. “
For many people who are trying to buy the first house, it is essential to rely on family financial support.
