9th May 2009 - Radio Bracknell - View Article

Housing Prices in the South East force resident into creative thinking

26 year old recent University graduate Peter Bisset, a resident of Maidenhead in Berkshire, has taken a unique approach to tackling his increasing frustration at the inaccessibility of the housing market in the South East.

Despite the current economic climate, house prices in the South East still present a formidable barrier for young people, particularly those who have been to University and have no personal savings. A recent fall in prices has been offset by an increase in the percentage deposit demanded by mortgage lenders. Peter Bisset stated “Although the average total cost of properties in the South East has fallen, the credit crunch has meant that mortgage lenders are being more cautious about lending money. In some cases I have been asked to put down a 20% deposit, which would mean even for an extremely modest £200,000 property I would have to outlay £40,000.”

With many graduates starting on wages of less than £20,000 a year this presents a considerable barrier. In an effort to get him on the property ladder Peter has had to employ his entrepreneurial skills and to this end has invested a considerable amount of time and effort in developing the new online classified ads website PoundAd.co.uk. Peter stated “I have a decent job and am earning more than the average graduate, but this still isn’t enough. When it takes off, PoundAd will hopefully give me the opportunity to get on the property ladder. What’s more I can give something back to the property market by offering people a cheap yet effective way to advertise their home.”

Not only does PoundAd offer a cheap way to advertise property for sale, but also cars, jobs, local businesses, events and many other items. Peter said “at the moment everyone is looking for ways to earn a few extra pounds, so what better time to get online and start selling your unwanted goods.”

Radio Berkshire - http://www.radiobracknell.com