First-time buyers defy the doubters to drive house prices higher - Telegraph.co.uk

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First-time buyers defy the doubters to drive house prices higher – Telegraph.co.uk

An online version of a British newspaper reports that buyers of homes for the first time borrowed a record amount of money last year. In 2016, these buyers borrowed 53.6 billion pounds, thirteen and a half per cent more than they did in 2015. This borrowing drove up the prices of homes. The average price of a home is now 220,000 pounds, an increase of 3,000 pounds. Experts in the field forecast a continued hike in the prices of homes.