FTBs forced to buy elsewhere

Some first time buyers (FTBs) are being forced to live in areas they do not want to be in due to rising house prices.

Website PricedOut says that house prices have increased well above average wages, forcing FTBs out of their preferred locations.

A spokesperson for the organisation revealed that PricedOut does not agree with the view that FTBs are merely being too fussy about where they buy.

"I completely disagree that people are being too fussy, if anything people are being forced to live in places they simply don't want to be," said the spokesperson.

"The public are being fed the idea that house price inflation is a really great thing, where the value of your house goes up, when the fact is they are not better off.

"Very few people are saying that high house prices are an extremely bad thing for everybody, whether you are a home owner or whatever," added the PricedOut source.

The latest figures from Nationwide revealed that house prices increased by 1.1 per cent in October.

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