FTB affordability constraints have been understated says CML

The CML, which is hosting a conference today on the first-time buyer market, says its research reveals many FTBs are in fact what it calls ‘returners’ – people who have previously owned property but temporarily left owner occupation and come back. It says ‘returners’ have different characteristics to FTBs. In particular, they may have higher deposits and may also tend to be older than "true" FTBs, says the CML. The fact they are included within FTB data probably means affordability constraints facing "true" FTBs are understated within the available surveys, it adds. CML research pred...