Respite for first-time buyers as house prices show 6 months of stability

The latest data from the Office for National Statistics shows that the average first-time buyer house price at the end of 2014 was £208,000. This means that house prices were broadly stable throughout the second half of 2014.

Duncan Stott, director of PricedOut, the campaign for affordable house prices, said:

"While six months of stable house price brings some welcome respite for first-time buyers, most people simply can't afford the average first-time buyer price of £208,000. House price stability provides a chance for wages to catch up with the UK's unaffordable housing market, so we must not go back to seeing prices rocketing ever further out of reach.

"With housing likely to be a key issue to younger voters, we hope that all parties will be supportive of this period of house price stability. We need to see an ambitious long-term housing plan from our politicians to bring affordability back to the market."

ENDS

PricedOut is a pressure group representing would-be first-time buyers and advocates a housing market that is affordable to all working people.

The ONS reported that the average price paid by first-time buyers were the following amounts in the second half of 2014:

July £209,000

Aug £210,000

Sep £209,000

Oct £208,000

Nov £208,000

Dec £208,000


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