FTB’s pay record prices to get on property ladder according to Halifax

July 4, 2017

Recent news release from Halifax headlines ‘First-time buyers paying record prices to get on to property laddder’.

Average first-time buyer house price is now £207,693 which is highest on record, first-time buyer average house price in London is now close to £410,000.

First-time buyers account for almost half of all mortgage financed house purchases.

Martin Ellis, Housing Economist at Halifax, said: “Although the number of first-time buyers grew at a slower rate in the first half of the year compared to 2016 the levels remain healthy and the market is achieving record average house price for first-time buyers.

“For the third time in four years the numbers getting on the housing ladder have exceeded 150,000 – a level of momentum not seen since before the financial crisis.

“High levels of employment, low mortgage rates and government schemes such as Help to Buy have also helped these numbers remain robust, as first-time buyers continue to form a fundamental part of the UK housing market.”

Read the Halifax press release 1st July 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

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