Investment Property News - Bueno Investments Limited

The cost of homes for first-time buyers has rocketed by more than 200% over the last 10 years, according to a housing charity.

Shelter said people taking their first step on to the property ladder paid an average of £159,494 for a home last year, compared with around £52,674 in 1997.

The situation is even worse in London, with the average cost of first-time buyer properties in the capital jumping by 250% to nearly £260,000 over the past 10 years.

But the average weekly income of a family in the UK has increased by just 53% during the same period.

As a result the charity said it is now 78% harder for first-time buyers to get on to the property ladder than it was 10 years ago.

It warned that the situation means a generation of young people are being "locked out of the housing market".

Shelter chief executive Adam Sampson said: "Every year the gulf between what first-time buyers can afford and the cost of housing is widening."

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http://www.buenoinvestments.com/uk_property_investment.php (UK Property)

http://england.shelter.org.uk/home/index.cfm (Shelter)