Lack of affordable properties has been making it hard for first time buyers in the UK to get on the property ladder. The problem is less housing in areas where there are more jobs, thus drives up both housing and rental prices. Hatched, an online real estate agency, has listed the top five markets fir first time home buyers to purchase affordable housing and Scotland was prominent on the list, this could though be a reflection of lower potential for finding a job and a high income in those areas.
Key Takeaways:
- Home pricing for first time home buyers is growing faster in london than in northern England.
- Housing prices in Scotland and northern england are more reasonable than the rest of the UK.
- There is a housing shortage in London, where there is a lack of rental properties available.
“The simple fact is there is an acute housing shortage in many areas of London and the South of England and those looking to rent will simply have to pay higher prices.”