First-time buyers 'need house prices to level out'

Posted: 21 Jan 2010 10:40:17 GMT

First-time buyers in the UK need house prices to level out in the long term so that properties can become more affordable, according to one expert.

Katy John, spokesperson for PricedOut.org.uk, says that high house prices "are not good for young people".

She adds that rising property values should not be welcomed as a sign of the nation coming out of the recession.

"Because house prices are so high, many couples are finding that even on two decent incomes they are unable to afford a property," Ms John states.

Her comments come in response to recent research from housing charity Shelter, which revealed that 18 per cent of 18 to 44 year olds are putting off starting a family because of the high cost of housing.

Ms John goes on to suggest that the situation in the UK has got so bad that many young couples are even moving to different countries in the hope of being to afford a property overseas.

According to Rightmove, the average asking price currently stands at £222,261.

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