Chancellors Speech - Darlington Building Society Comment
29 January 2025
"It's encouraging to see the Chancellor announce the plans for Oxford and Cambridge to build 'Europe's Silicon Valley' which includes the building of new homes. It's vital that as a nation we address the chronic shortage of housing stock across the UK to enable not only first time buyers to buy their own homes, but also to give a shot in the arm to the purchase market generally. In our heartland, we've seen the average price paid by first-time buyers rising to £123,000 in November 2024 which was 7.8% higher than the average of £114,000 in November 2023 and so we hope this is the start of many such initiatives across the UK to make more affordable homes available."
Christopher Blewitt, Head of Mortgage Distribution, Darlington Building Society
