Calls for UK to adopt New Zealand approach to housing to help first time buyers

The government has been urged to consider a New Zealand-style approach to housing after its parliament banned foreign investment to make properties more affordable. Lynda Clark, editor of First Time Buyer Magazine, said a move of this nature in the UK would definitely offer an advantage to many of our own first time buyers who face considerable pressure when buying property. Speaking to The London Economic she said: “This is probably more relevant in major cities like in London and...

Renting 47% cheaper than mortgage repayments in London

New property statistics have revealed renting could be the new buying for Londoners. Last year the average flat in London sold for £556,146, with terraced properties going for £666,852 on average and semi-detached homes fetching £654,761. The surge in property values has resulted in hefty mortgage repayments, which are now 47 per cent more expensive than rent in the capital. The research also revealed that it takes first-time buyers eight years to save for a deposit, with those looking to...

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