Today’s ONS house price index has shown that the average house price paid by first-time buyers reached £202,000 in May, marking the first ever occasion that the £200,000 threshold has been breached.
Duncan Stott, director of PricedOut, the campaign for affordable house prices, said:
“It is crazy that ordinary working people are having to pay so much for something as fundamental in life as a home. With over £200,000 needed to secure a first home, young people will now be saying ‘enough is enough’.
“The housing market is the biggest threat to economic stability, so it is simply reckless of the government to allow house prices to rampage so far out of reach. We need urgent action to bring an end to rising house prices.”
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