First-Time UK Homebuyers Decline

The number of first-time homebuyers in the United Kingdom declined on a year-to-year basis in the latest reported month, bringing the market to a June low not seen since 2004, according to the Council of Mortgage Lenders.CML data show that the number of loans to first-time buyers in June declined to 35,600, down from 39,800 in June 2006. "Although this figure is up slightly on the 34,600 first-time buyer loans in May, it is the lowest June figure since 2004, when there were just 33,600 first-time buyers getting on the property ladder," the CML said. The Council of Mortgage Lenders can be found on the Web at http://www.cml.org.uk.