Getting on the ladder: Researchers recruit for major new study on first-time buyers
Posted on Wednesday 25 April 2018
Home truths: average house prices are many times average incomes in large parts of the UK. Image credit: Tim Green via Flickr.
The research will explore the choices people make when buying their first home in order to inform debate about housing provision and schemes to help first-time buyers.
Like much of the UK, Birmingham, Bristol and Leeds face many housing challenges. According to figures compiled by the National Housing Federation the cost of an average home in the South West is ten times average incomes and most households would need a pay rise of £33,600 to afford the average home.
Saving
Dr Alison Wallace from the Centre for Housing Policy, said: “For many younger households with no access to the “Bank of Mum and Dad”, saving for a large deposit is a challenge when faced with high rents.
“The government and housing providers are promoting different schemes to help first time buyers, like shared ownership - often described as a part-rent-part-buy scheme that lowers the size of the deposit and monthly costs of buying a home. However, this only forms around one percent of all first-time buyer purchases in these regions.”
Aspirations
The study will investigate whether there should be more of this type of housing to help people realise their aspirations to own.
The York researchers would like a 30- 40 minute chat with people who are looking to buy their first home or have recently done so.
Residents of Birmingham, Bristol or Leeds can take part by contacting Dr Alison Wallace via alison.wallace@york.ac.uk .
The research is funded by the CAST Foundation which supports housing associations active in these areas.
