The financial confidence and moral of aspiring property seekers has been crushed as the worst housing market slump in 60 years puts millions off home ownership…now thousands of hard-working people who were saving to own their own homes are re-thinking the likelihood of this dream.Â

According to research from our property website PropertyLive.co.uk, almost 7 in 10 first time buyers in the UK have given up hope on ever owning their own home. Despite falling house prices and record low interest rates, about 65% of non-homeowners now fear that they will never have enough money to get on the property ladder. It seems that banks are still refusing to lend and the Government is failing to help.

Interestingly, our research shows that first time buyers in Norwich are the most pessimistic about their chances of ever buying a home, with 92% doubting they will ever have enough money to get a mortgage.  Of those still living on hope, people in Sheffield were the most optimistic, with only 47% of them believing they will never be fortunate enough to own a home.

These buyers are the bedrock of a healthy hosing market, and it is a shame that Alistair Darling is missing this opportunity to help rejuvenate the housing market!


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