First homes 'least accessible' to those in need

26-Apr-2007

Starter homes, which may be suitable for first time home buyers, are the least accessible to those who are most in need, an expert has claimed.

According to Helen Adams from FirstRungNow, an online advice centre, the demand for one and two-bedroom homes by landlords is pushing up prices to a level that is causing difficulties for first time home buyers.

"This is a real blow for first time buyers wanting to take that first step onto the property ladder," said Ms Adams.

"The government should take action to impede this trend which will lead to a divided nation - those from families with property and those without," she added.

Indeed, according to data released by Mintel, a research firm, before 2010 three per cent of British homeowners - which may include recent first time home buyers - are considering the purchase of a second property for rental purposes.

To find out about the different ways of financing a first home, see our section ‘Affording Your First Home’.

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