FTBs 'accepting defeat'

FTBs 'accepting defeat'

Tuesday, January 08, 2008

FTBs are giving up on the UK and looking abroad in an attempt to get on the property ladder…

The average house price in the UK according to Land Registry Figures from July to September 2007 is £230,474 GBP, a 9% rise on last year. Turn to Greater London and this figure shoots up to £377,807 GBP, a 14.1% rise on 2006.

Hardly surprising then that 84% of the 18 – 24 year olds surveyed by National Savings & Investments this year said they believed buying a property abroad was a more viable option than buying in Britain. And with prices from as little as £30,000 GBP in Bulgaria, this is a very lucrative and accessible property ladder to consider.

Adam Godwin, Marketing Director of Dream Homes WorldWide (http://www.dreamhomesww.com) comments, “Young people in the UK are taking a very pragmatic approach to the property market and many realize that a first time buy abroad could be the key to getting onto the ladder in the UK.

"Rental income from an overseas asset could fund the monthly rent in the UK whilst the capital appreciation from a few years of ownership in a buoyant emerging market could fund that all important deposit for a first UK home.”

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