The UK property market has been busy for quite some time, with house prices increasing at a rapid rate each month. The average price of a house is now £368,614, according to Rightmove, which is a new all-time high.
As interest rates continue to climb and the cost of living crisis worsens, it is becoming more and more difficult for first-time buyers to get onto the property ladder. New homeowners are now having to save up an even bigger deposit and have higher earnings to be able to buy a home.
It is therefore no surprise that in order to get a foot on the ladder, people are now having to wait longer to be able to purchase their first property.
