There were 310,000 first time buyers in 2015 according to the Halifax with an increase in the number taking 35 year mortgages.
Property prices are up 9.5% in the year and a further decline in the number of homes for sale will keep the an upward pressure on prices.
UK house sales were 8% lower in 2015 over the year with London and majority of towns leading the way.
New research by the Resolution Foundation finds the average first time buyer takes 24 years to save enough deposit to buy their home.
Extra powers could be handed to the Bank of England to limit buy-to-let landlord borrowing to maintain financial stability.
A study produced by the CEBR for estate agent associations shows UK house prices are expected to rise by 50% in the next ten years.
Homebuyers in London are to benefit as the government improves Help to Buy and removes restrictions for Shared Ownership scheme.
People struggling to buy their first home are given a helping hand with the Help to Buy Isa free from tax and up to 4% interest.
Landlords of buy-to-let properties must pay much higher stamp duty land tax following the chancellor’s Autumn Statement.
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