House prices continue their upward trajectory – albeit at a slower pace. The UK House Price Index, which is for completed transactions in February, shows that annual house price growth is well below its 2016 figures, while other indices point to a narrowing of the north-south divide and a pick-up in demand from first-time buyers.
More than 259,000 people have bought a home using one of the government’s Help to Buy schemes, while 868,240 have opened a Help to Buy Isa (H2B Isa), which offers bonuses of up to £3,000 to buyers saving cash for their first home, according to official government data.
Almost half of consumers (49%) expect house prices to rise over the next 12 months, while just 10% expect them to fall, according to new industry data. And this has led to worries about how they will afford to buy a property.
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