First time buyers are on the increase

The video discusses James, a 23-year-old first-time buyer in Bath, who relies on inheritance and living with parents to save for a house. It highlights the challenges faced by first-time buyers, including high house prices and the need for financial assistance from parents. The video provides statistics on first-time buyers, noting an increase since 2007 due to low mortgage rates and government schemes like Help to Buy. It also addresses regional variations in house prices, with London being the most expensive. The video concludes with James' determination to prioritize buying a property.

What strategy did James use to save money for his first house?

• He invested in stocks.

• He won a lottery.

• He lived with his parents.

• He worked multiple jobs.

What is the average age of a first-time home buyer according to the transcript?

• 40 years old

• 25 years old

• 35 years old

• 30 years old

Which city has the highest average house price for first-time buyers?

• Manchester

• Bath

• Belfast

• London

What has contributed to the increase in first-time buyers since the financial crisis?

• Fewer government schemes

• Decrease in house prices

• Low mortgage rates and high employment

• Higher interest rates

Which government scheme is mentioned as helping first-time buyers?

• Shared Ownership

• Help to Buy equity loan

• Right to Buy

• First Home Fund