Local resident and Savills Associate Director, Rohan Vines, says a good deposit and clean record remain the key ingredients for home-buyers.

He says:  "It is a worrying statistic that the average age of a first time buyer is now over 30 and, as property values continue to rise, for some it must seem that home ownership is growing increasingly out of reach.

"This is a problem likely to be further exacerbated in the sub £1 million market over the course of the next five years, due to rises in value (Savills research is predicting that homes valued under £1 million are likely to rise by as much as 26.4% by the end of 2019) and a severe shortage of new affordable homes being built.  In addition, the most recent changes in stamp duty benefiting buyers of property valued under £937,500, is likely to help fuel demand at this level of the market, ultimately driving prices up.

"Whilst recent Government initiatives, such as Help to Buy, have certainly helped get some onto the ladder, restrictions in pay rises has meant saving for a good deposit has become even more difficult and, in conjunction with the tightening of lending criteria, means many would-be buyers are frozen out of the market.

"For those hoping to get on the property ladder, having a clean financial record and a good deposit remain the key ingredients to getting a foothold on the housing ladder.  However, individuals shouldn't feel pressurised into buying into an area if they are unhappy with it in terms of facilities and amenities - in such cases, considering a long-term rental which often allows more flexibility, can be a more economically sound alternative."

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