House prices 10% higher for first time buyers

Apr 15, 2014 11:09 AM

This morning, the Office for National Statistics revealed the latest miserable house price index. People who want to buy their first home must now pay 10.5% more than they would have a year ago - a figure that rises to 17.5% in London.

Alex Hilton, Director of Generation Rent, said:

“Two thirds of private renters would rather be living in a home they own than paying off their landlord’s mortgage. Double digit house price inflation is miserable news and wipes out government efforts on affordable housing. For 9 million renters, higher prices only means even higher rents as new landlords try to make a return on their increasingly expensive investments.” 

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