UK house prices: There are now 10 buyers for each property on the market - with first-time buyers hit hardest

 
Emma Haslett
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Help To Buy Scheme Launched To Help First Time Buyers
The government has launched various schemes aimed at helping first-time buyers (Source: Getty)

Thinking of putting your house on the market this year? Now's the time to do it, after new figures suggested there are now 10 prospective buyers for each property on the market.

The National Association of Estate Agents' (NAEA) November Housing Market Report showed the number of house-hunters grew 20 per cent in during the month, with 403 house-hunters registered per branch of estate agents, up from 336 in October.

Meanwhile, while sales as a whole dropped one per cent, sales to first-time buyers "nose-dived dramatically", falling 10 per cent.

That's despite a raft of government measures, including the recently-launched Help to Buy Isa, aimed at helping first-time buyers onto the property ladder.

And it looks like they will continue to feel the pinch: some 53 per cent of NAEA members said they reckon the group will continue to be squeezed out of the market by a lack of affordable housing. Happy new year, and all that...

Figures by Nationwide published at the end of last month showed UK house prices rose by 0.8 per cent between November and December, the largest increase since April.

That means the average UK house price is now at £196,999 - 4.5 per cent higher than this time last year.

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