House Price Crash, can it happen?

Average price paid by a first time buyer now above £150,000

New Halifax research shows that the average house price paid by a first time buyer (FTB) pushed through the £150,000 barrier for the first time in 2006. The average price increased by 11% in 2006 to £151,565 from £137,122 in 2005. Over the past five years the average house price paid by a FTB has almost doubled, rising by 95% from £77,914 in 2001.

In 2006 the average FTB house price in each region of the UK was more than £100,000 for the first time. The average FTB property price was lowest in Scotland (£108,922) and the North (£109,243) with both these regions seeing a rise in the average FTB price above £100,000 during the year. Five years ago, in all regions of the UK, bar London and the South East, the average FTB paid less than £100,000.

Average first time buyer in London is now liable for 3% rate of stamp duty

Number of first time buyers at a twenty six year low of 315,000 in 2006

Read all the grim details:-