First-time buyers face £150,000 average price

First-time buyers have to pay an average of £150,000 to plant a foot on the property ladder, according to a Halifax report. The research shows that the cost of properties for first-time buyers is beyond the reach of many potential homeowners. A buoyant housing market has left the number of first-time buyers at a 26-year low of 315,000 in 2006, down 7% from last year. The average price paid by a first-time buyer increased 11% this year to £151,565, almost twice the £77,914 figure in 2001. References: Financial Times page 1 30/12/06, Daily Telegraph page 1 30/12/06, The Times page 1 30/12/06, The Guardian page 26 30/12/06