A right to buy?

The average house price in England and Wales grew 6.6% annually in the last year, according to a report by Reeds Rains estate agents, making it even tougher for first time buyers to make it onto the property ladder.

Despite the Government’s continued promises that the Right to Buy scheme will make it easier for low-income families and first time buyers to get one foot on the ladder, the current average now stands at £292,077, up £17,963 since December 2014.

Research by KPMG last year revealed that the average first-time buyer required a salary of £41,000 to afford a property and now the latest findings by Reeds Rains continue to reinforce the difficulties facing first-timers.