So when will it be first-time buyer time?

So this is the moment a generation of accidental tenants have been waiting for. The lone voices that called unsustainable on a housing market that rose 213% in less than six years, outstripping salaries, outstripping sense, were telling first-time buyers to bide their time. Soon, over-geared property investors and the generation who had arrived at the estate agents’ offices just in time to buy at the bottom and enjoy a decade of bragging rights would sooner or later be eating first-time buyers’ cake. A giant power shift from the vendor to the buyer, from the landlord to the tenant, would herald a new era of gazundering… a redistribution of bricks and mortar. Just hold in there; have faith. Except, of course, it hasn’t happened that way.

For Citywire.