LONDON (CU)_House prices have been surging at a record level across the United Kingdom over the recent years. Many first-time buyers are finding themselves pushed out of the market as a result, having to save for longer before they can afford their own home.
This has led to an increase in the average age for joining the property ladder in Britain, with the national average reaching 32 last year, from 29 a decade earlier. For every region, this figure was about 30 in 2021, according to UK’s biggest mortgage lender. Despite a record growth in first-time buyers in the UK last year, Halifax noted that rising average house prices are forcing potential buyers to wait longer to become a homeowner than in previous generations.
At 33, the average age was…
