RESEARCH REVEALS SHORTAGE OF FIRST TIME HOME BUYERS

     

The United Kingdom housing market is experiencing a potentially serious shortage of first time buyers, particular in the South East and North West, new research has found. First time buyer activity in the North East and Yorkshire and Humberside is less than half of what it was pre-recession, while London is the least affected, according to the report from private mortgage insurer Glenworth based on an analysis of government and industry data. Propertywire.com reports that the South East averaged 86,733 first time buyers a year from 1974, when records began, up until 2006.