Uncertain times ahead, says CML
Uncertain times ahead may prove awkward for first-time buyers looking to get on the property ladder.
That is the view of Sue Anderson, head of external affairs at the Council for Mortgage Lenders, who is seeing the latest economic movements as a "double-edged sword".
While falling prices have been welcomed in some quarters with the problems of affordability continuing to hamper first-time buyers trying to secure a property and encouraging rental demand, Ms Anderson says it is important to consider the whole picture.
"On the other hand," she explained, "first-time buyers are going to be a group who are probably as vulnerable, if not more vulnerable, than everyone else to confidence issues and expectations of what is going to happen."
"They may feel a bit wobbly in light of what has been going on in the market."
House prices fell by 1.1 per cent in November, the Halifax reported, with signs emerging of a slowdown in the market.
Published 10th December, 2007
© 2007 Estates IT Limited
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Uncertain times ahead may prove awkward for first-time buyers looking to get on the property ladder.