Released on = May 4, 2007, 4:18 am

Press Release Author = Charlotte Burrows

Industry = Real Estate

Press Release Summary = First time buyers are finding it twice as hard to climb onto
the first rung of the property market than their counterparts of ten years ago, it
has been revealed, says National Homebuyers.

Press Release Body =

Housing charity Shelter\'s annual ROOF Affordability Index shows that first time
buyers are struggling because spiralling house price inflation has not been matched
by parallel increases in household incomes.

As a result, Shelter\'s chief executive Adam Sampson expects repossessions to rocket
in the near future - especially as interest rates look set to rise by at least a
quarter of a per cent in May.

\"These figures show the gulf between those who can afford to buy and those who can\'t
is widening at an alarming rate. For first time buyers, the housing ladder is
becoming a housing tightrope,\" Mr Sampson said.

\"Buying a home is becoming an ever-more distant dream for first time buyers and as
housing becomes increasingly unaffordable, repossessions are likely to spiral and
more families will face the nightmare of homelessness.\"

Affordability is of particular concern to first time buyers in London, the survey
found.

Web Site = http://www.nationalhomebuyers.co.uk/newsarticle.asp?ID

Contact Details = Sterling House
20 Victoria Way
Burgess Hill
West Sussex
RH15 9NF
08709798118