FTBs facing new challenges

New homeowners are being forced into areas they do not want to live in out of desperation, a lobby group spokesperson has said.

Priced out of ''nice'' areas, first-time buyers are choosing properties they can afford that are in less-than-desirable locations in order to get on the property ladder, the spokesperson for Priced Out suggested.

She described how £100,000 could no longer buy a property in London while five years ago it could have bought a semi-detached house in a "reasonable area".

"The public are being fed the idea that house price inflation is a really great thing, where the value of your house goes up, when the fact is they are not better off," she added.

"The government should never have allowed this to happen."

Priced Out campaigns for affordable housing and aims to raise awareness of the lack of it while pushing for change.

The September Financial Times house price index showed that the national housing market slowed markedly.

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