The latest House Price Index shows how first time buyers
are being screwed over by the market. The
average cost of a first time home now stands at over £400,000 in London, with
house price inflation at nearly 13%. So, at the end of 5 years of saving for
your deposit with the Help to Buy ISA that was the Chancellor’s offer to first
time buyers, the average cost of a first time home will be over the £450,000
threshold. With rents also on the rise there is even less chance of saving for a
deposit. Read more on the Generation
Rent website.
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