Those people hoping to get on to the UK housing ladder are facing record asking prices, as calm returns to the sector after last autumn’s mini-budget spooked the markets.
Rightmove, the property portal, reports that the average asking price of properties popular with first-time buyers – those with one or two bedrooms – has hit a record price of £224,963 in the last month. That is 2% higher than a year ago, even though higher mortgage rates have made homes less affordable.
