Ikea announces new housing range for 'cash strapped' buyers

06-Dec-2006

Ikea has announced a new range of prefabricated timber frame homes, which may be attractive to first time buyers.

First time buyers struggling to get on a foot on the property ladder may be able to benefit from Swedish furniture group's new range, reports the Scotsman.

In order to protect low earning first time buyers and repeat purchasers, Ikea has announced its intention to make its new range of housing available only to households with annual incomes of less than £30,000 and buy-to-let property investors will be automatically excluded.

"They are smart homes, adapted to the day-to-day needs of the modern family," said a representative from Ikea.

"[Prefabricated homes offer] good housing at a low cost," he added.

Housing prices will be deliberately set low, with a three-bedroom home priced below £150,000 and flats set below £100,000.

Ikea is a manufacturer and distributor of well-designed, yet inexpensive, home furnishings and homes.

For our first time buyers guide to buying a property click here.

Aspiring first time buyers worried about how their debts will affect their borrowing power should contact a good broker.

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