Average FTB properties for sale now sit at £172,000

14th Nov 2012

The cost of getting into the UK property market for first timers has been increasing over the course of the last few years, with things such as deposits creeping as high as £26,000 on average for this group.

However, it has now been revealed that the average cost of a first home for those looking to take their primary step onto the bottom rung has been growing in recent times, and now sits at £172,000.

This news from the Office for National Statistics (ONS) comes at the same time as it announced that the average cost of purchasing a house rose by 1.7 per cent in the 12 months up until the end of September. While this was good news, it was a drop from the 1.9 per cent increase seen in the year to August.

As expected, the market has been boosted by activity in London, which continues to outperform the entire sector, having risen in final sale value totals by 5.2 per cent across the past 12 months.

It was not all good news though. While three of the four UK nations have seen rises over the last year, it was reported that the average cost of buying a house in Northern Ireland has now dropped by 10.1 per cent annually.

Posted by Staff Writer: ADNFCR-1286-ID-801488137-ADNFCR

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