FTB house prices rising

The task of getting on the property ladder has got even harder after it was revealed house prices for first time buyers increased by 1.4% in December. According to the Department for Communities and Local Government, property prices for first time buyers rose by 6.8% during 2009. For properties bought by former owner occupiers, the annual growth was just 1.4%. In terms of the market overall, December prices were 0.8% up on November, the eighth consecutive month on month rise, and 2.9% higher for the year as a whole. England (3.0%), Scotland (3.8%) and Wales (1.0%) all recorded price rises during 2009, although Northern Ireland suffered a 6.0% drop.