(MENAFN) 24 year-old Jake Olenick, used to rent a London apartment for more than two thirds of his take-home income prior to getting on the property ladder in 2021.
He was able to acquire a share of a flat in Kilburn because of a recent employment, brutal saving, and "lucky familial circumstances." Jake was not the only one who had the ability to score a footing on the property ladder last year.
Despite surging property costs and deteriorating affordability, Halifax data claims that there was a massive number of first-time home purchasers in the previous year. Hence, Jake’s case would be one of the many new first-time purchasers.
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