Buying a Home in 2021: Everything first-time buyers need to know

There is no denying that the ongoing pandemic has had a devastating and transformative effect on our lives and the economy. However, despite this, the UK property market has not only survived, it is flourishing.

At the time of writing, UK average house prices are higher than ever, with annual house price growth hitting 10.7% in June. But although property prices are seemingly on a never-ending upward trajectory, presenting some of the most challenging conditions for first-timers to enter the market, the latest budget announcement gave some great incentives for first-time buyers to finally get on the property ladder. So if you’re looking to purchase your first home, now could be a good time to buy.

To read this article in full, please click our source Property Reporter

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The percentage of first-time buyers’ household income going on mortgage payments

What this really shows is not house prices, but pressure. Affordability is about monthly cost, which varies across the UK. In London and the South, first-time buyers can spend over half their income on housing, while elsewhere it is far lower. To learn more please read on..

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