House prices rise again

HOUSE prices have risen for the seventh month in a row and interest rates were kept at a record low of 0.5 per cent - as homeowners were given a double boost today.

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PARENTS PAY UP FOR KIDS

10th July 2009

EIGHT out of 10 first-time buyers rely on cash from their parents for a deposit on a house.

A study out yesterday, as the Bank of England kept interest rates at 0.5%, found a record number of under-30s cannot raise the cash on their own.

The average first-time buyer put down a deposit of almost £32,000 during May, just below the current average annual salary of £32,840.

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