Home Buyers Wait 16 years For First Home

Published on by Chloe Garnham (author)

First time buyers are struggling in todays economic climate. (photo: )
First time buyers are struggling in todays economic climate.

New figures from the charity, Shelter show that families earning an average wage would have to save up for over a decade before they could buy a house of their own.

The charity is urging for more homes to be built to stop the increase in housing prices which is preventing young people from building a stable future.

With a general Election being held in less than four months' time, Shelter is insisting politicians from all parties attend. 

“Homeownership used to be within people’s reach”, Shelter’s Chief Executive, Rob Campbell  explained. “The rising shortage of affordable homes has pushed house prices up so high that for millions of young people it’s now just a fantasy, however hard they work or save”.

The Chief Executive sympathises with this situation, expressing his concern for the expenses of rent, saying that he believes children of today could spend decades paying out money unless something is done about the cost of houses. He added that previous schemes to help towards living costs have failed.

Shelter hopes that the parties will agree to build these homes which will benefit young people and first time buyers.

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