Property ladder to become more accessible

30 November -0001

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Financial experts predict that the difficulty they first time buyers face in getting onto the property ladder will ease over the next 20 years.

Wage increases and changes in the property market are expected to boost the affordability of property, according to research from the Centre for Economics and Business research.

Whilst house prices are expected to rise by 112%, bringing the average house price to £333'000 by 2025, it's expected that Wages will also increase by 140%.

And thanks to Government subsidies, such as the Affordable housing scheme, changes in the housing stock will mean that there are more affordable homes available.

But the north south divide in the housing market is set to increase, with the average first time buyer, in the south east, in 2025 having a choice of 15% of the properties on the market, whilst the average First time buyer in the West midlands will have a choice of 60% of the market.

The report also predicts a return to the Vicorian style of living, with more generations living in one home, in order to save space and money.

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