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First-time buyers vacate property market

It has been revealed today that the percentage of first-time buyers on the property ladder has fallen to a three-year low of just 35% in April, down from 39% in March. This will come as no surprise to those who follow the mortgage industry where liquidity for first-time buyers has been difficult to obtain for some time with more and more mortgage company's looking for larger deposits.

In reality first-time buyers are the lifeblood of the UK property market allowing others to sell their property and move further up the ladder. Until we see a revival of the first-time buyer market we are unlikely to see a strong recovery in the UK property market, something which the government and mortgage lenders are all too aware of.

However, as the average cost of property in the UK continues to rise, more and more people are effectively being priced out of the market place and forced to look at various partnership deals available. There is also concern about the UK employment market with some suggesting that unemployment could top 3 million in the short to medium term as the UK government gets ready to attack the public sector budget.

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