Homes becoming too expensive
Homeowners who have invested in a bespoke lean-to conservatory in the hope of increasing the value of their property may be interested in the latest comments from PricedOut.org.uk.
The firm suggested that rising house prises could be "causing misery" for millions of Brits and that only those with well-paid jobs or rich parents can access the market for the first time.
Recent statistics from findaproperty.com show that the average asking price for entry-level homes has increased steadily over the past four months.
The average first-time buyer property is listed at £155,677, which represents a 1.2 per cent year-on-year rise and means the figure has reached its highest level since February 2009.
PricedOut.org.uk spokeswoman Kay John explained that levels of home ownership in the UK are at record lows.
"We desperately need to see house prices stabilising and gradually adjusting to more affordable levels over time," she said.
Ms John added that the government has a big part to play in doing this, suggesting that it scraps tax breaks for "property speculators".
Posted by Cheryl Stevenson
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