Two-thirds of first time buyers have given up hope of becoming homeowners, according to a new survey by property website PropertyLive.co.uk.
Despite plummeting house prices and record low interest rates, the study revealed that around 65 per cent of respondents still believe they will never have enough money to buy their own home .
Just 5 per cent of first-time buyers thought they would be able to get on to the property ladder within the next year, with 10 per cent hoping to do so by summer 2011.
But one in 20 of those polled claimed they would have to wait at least five years before being in a position to buy their first home .
Among the most pessimistic were first-time buyers in Norwich, with 92 per cent admitting they do not think they will ever own a property, while potential buyers in Sheffield were the most optimistic, with 47 per cent giving up hope of becoming homeowners .
Commenting on the findings, Peter Bolton King, chief executive of the National Federation of Property Professionals (NFoPP), said: "With banks still refusing to lend and the Government doing practically nothing to help first-time buyers, it's little wonder that so many people have given up hope of every owning their own home ."
He said that the Chancellor Alistair Darling didn't do enough in his Budget last month to help first-time buyers onto the property ladder, such as scrapping Home Information Packs or taking action on stamp duty .
"In failing to do that he dashed the hopes of thousands of hard-working people who are saving in the hope of getting the keys to their own home," he added.
Site Map |
About estateagents.co.uk |
Contact |
Terms & Conditions |
Links |
Press |
Estate Agents Login | 
© 1999-2009 estateagents.co.uk
© 1999-2009 estateagents.co.uk