First time buyers to pay £1m for house in 17 years

Data from the building society shows UK first time buyers could pay £1m in 2024 if house price growth trends continue. The £1m starter home would hit buyers sooner in already expensive areas. Buyers in Greater London could pay £1m in 11 years, the South East 15 years and the South West in 16 years. Prices have risen the most rapidly in Northern Ireland. Stroud & Swindon’s 2006 data estimated first time buyers would pay £1m in 2025 but the building society’s updated research shows the country’s prices could reach £1m in 2018. Stroud & Swindon has also brought its predictions forwar...