First-time buyers face struggle to get first home

Jessica Nangle

May 25, 2017

First-time buyers have to make more sacrifices than ever to afford their first homes.

New research from money.co.uk claim new homeowners are compromising their wellbeing to get on the property ladder and safety as they move into higher risk crime areas for affordability.

In a survey of 750 first-time buyers, 40% had moved around 37 miles away from their family and one in four add an average of six hours a week onto their journey to work.

First time buyers should negotiate to get a better deal

These first-time buyers claim they now experience increased levels of stress (25%), anxiety (19%) and depression (8%).

Hannah Maundrell, editor-in-chief at money.co.uk, said: “Getting a foot on the property ladder requires more and more sacrifice as prices increase.

“It is important to look at government schemes which are designed to help you afford your first home.”

This comes as average house prices reached a record high of £317,281.

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