CITY AM  – Britain’s new favourite lender  

Housing: 60 per cent of first time buyers couple up to buy a home

CITY AM SAYS Nearly two-third of first time buyers are entering the property market with someone else, a new report by Halifax has found. 

Over 60 per cent of mortgages taken out by first time buyers between January and December last year were taken out in joint names. 

House prices for first-time buyers remain over £132k more expensive than ten years ago, with the cost of a home coming in at around £288k last year. 

Despite prices being five per cent lower than the prior year, the overall number of first-time buyers fell by 21 per cent  to 293,339 in 2023. 

Catch up on all the business pages here