Mortgage payments for new borrowers are at their lowest as a proportion of disposable earnings for 15 years, a study said today.
Typical payments for both first-time buyers and home movers taking out a new loan stood at 26% of take-home pay in the second quarter of this year, Halifax said.
Demand from potential new buyers registering with agents has fallen for three months in a rowRead the full story ›
It's a situation faced by thousands of young couples trying to get onto the property ladder. Just what can they afford?Read the full story ›
The recent price rises have been due to strong demand from buyers, but this demand has already started to weaken as a stamp duty concession for first-time buyers ended last month, New buyer registrations grew at a more subdued rate of 2.1% in April, less than half of the 4.4% increase in March.
Property analyst Hometrack said. The general rises are expected to 'flatten out' in coming months as worries over the economy impact on buyers' confidence, with official figures showing last week that the UK is in a double-dip recession.