“While homeowners will be pleased, the 6.4 per cent year-on-year increase in the average price paid by first-time buyers is a slight cause for concern as the pace of property price rises outstrips that of salary growth.
“However, it is important to note that this should be viewed against a backdrop of mortgage affordability which is positive when compared with historical levels, and first-time buyer lending in 2015 was at its highest annual level since 2007. Nevertheless, while 2016 should see a lower annualised rise in house prices, we can expect the upward trend to continue as long as supply pressures continue to put constraints on the market.”
For further enquiries, journalists can contact:
Johnathan Priestley, Cicero Group
Phone: 0207 297 5954
Rachael Snelling, Aldermore
Phone: 0208 1853 102
Notes to Editors:
For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page.