First Time Buyers Paying Record Prices
The average price paid by first time house buyers breaks the £100k barrier for the first time
4th February 2004
The average price first time buyers pay for their home has risen above £100,000 for the first time last month, representing a price rise of over 22% since the previous January.
The figures come from a report by the Halifax, which also shows that the general housing market saw annual price rises of 16%.
The Halifax concludes that a shortage of older houses on the market is responsible for the first timers' rise, forcing many people to take their first step on the property ladder with a new property.
Read More: Financial Times
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