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First-time buyer confidence still high, research shows

Nationwide has conducted research into the attitudes of potential first-time buyers on affordability and home-ownership and has discovered that confidence among this group is still high, despite tough market conditions.

With average house prices now at around £145,000, 74% of people who currently rent from a private landlord or live with their parents are still planning to buy their own home.

The research shows that potential first-time buyers are now going to new lengths in order to get on the ladder.

One in four would consider taking a second job in order to be able to buy a property and almost a fifth would consider buying a property in a poor condition which needed renovation.

Out of those surveyed 16% say that they would consider buying with friends, 14% would try to borrow their deposit from their family and 11% would move to an area where they didn&#39t know anybody so that they could afford a home. One in 10 would take in a lodger.

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