A new report from the Liberal Democrats has revealed that first-time buyers in the UK are facing an average house price increase of £4,000 in just one year. This is a significant jump in house prices, which has been attributed to a lack of affordable housing and a rise in demand for properties.
The report, which was released on Wednesday, showed that the average house price for first-time buyers had increased from £182,000 in 2018 to £186,000 in 2019. This is a rise of 2.2%, which is significantly higher than the 1.2% increase in house prices across the UK as a whole.
The report also highlighted that the number of first-time buyers had decreased by 8.1%, from 333,000 in 2018 to 305,000 in 2019. This is likely due to the fact that many potential buyers are being priced out of the market due to rising house prices.
The report concluded that the current housing market is not working for first-time buyers, and that more needs to be done to make housing more affordable. The Liberal Democrats have called for an increase in the number of affordable homes being built, as well as a reform of the Help to Buy scheme to make it more accessible to those who need it.
The findings of this report are concerning, as they demonstrate how difficult it is for first-time buyers to get onto the property ladder. It is clear that more needs to be done to make housing more affordable and accessible for those who need it most. The Liberal Democrats have put forward some proposals which could help to address this issue, and it is now up to the government to act on these proposals and ensure that everyone has a fair chance of owning their own home.