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UK: Need for big deposit hits home sales hard

Posted on 31 August 2010

From Telegraph: The housing market is under threat from a shortage of first-time buyers as they are priced off the property ladder by the large deposits needed, new research shows. Just one in five prospective buyers is making a first purchase, the lowest on record and half the level needed for a stable housing market, according to property website Rightmove.
Without a ready supply of new buyers underpinning transactions, property chains may collapse, pulling down prices all the way to the top……………………………………….Full Article: Source


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