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Are first time homebuyers starting to give up?

While only a few weeks ago there appeared to be blue sky over the UK mortgage market, with promotions a-plenty and first-time buyers finally back in the spotlight, things seem to be changing. There appears to have been a significant drop-off in interest from first-time buyers many of whom appear to be giving up hope of owning their own property in the short to medium term. The fact that first-time buyers are losing interest is a significant blow as they are by far and away the life blood of the UK property sector.

One of the main issues at the moment is the fact that if first-time buyers evaporate again and leave the scene then we may see a number of the promotions and discounted mortgage rates taken from the market, which will further put back any potential recovery. At a time when the UK political system is still grabbing headlines it seems as though the UK economy is starting to struggle again. The warning signs are starting to emerge with regards to a troubled period for the UK economy, immediately after signs of a potential stabilisation and possible recovery.

With more and more analysts pushing back their recovery forecast dates it appears as though the UK economy is starting to weaken again.

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