The figures show that annually house prices have risen again, now rising at 3.1% - that figure was 2.7%, so annual house price inflation is accelerating.
This means nearly £5,000 piled on to the price of an average (£165,515) home.
He’s 28 and is living with his wife in his parents’ house, while they attempt to save for a deposit. Andy’s brother and his partner are in the same situation and also living in the house. He says:
We would love to be able to buy somewhere when we’re in our 30s, but with house prices as high as they are and so few homes we can actually afford, even this is looking pretty much impossible. If you’d asked me when I was 21 and graduating, I’d certainly be expecting to own some sort of property within a few years. It’s sad that even though we’re living with my parents and saving as much as we can, this is still so far out of reach.
How did we get in this mess?
This excellent post by Daniel Knowles explains.