House price boom

The average house price in the UK has topped the £100,000 mark - find out more and get advice on buying a home

Every town in the UK has an average house price above the £100,000 mark for the first time ever, new research reveals.

Halifax said the cheapest British town in terms of property is Lochgelly in Fife, where the typical home passes hands for £104,738.

It compares to five years ago when 200 towns surveyed reported average prices below the £100,000 barrier.

Pricey London

In England, a north-south divide has re-emerged when it comes to house price rises, Halifax said.

Southern regions have seen the pace of inflation accelerate over the last ear, while across northern England it has eased - with year-on-year change in ingle digits in the three northern English regions.

London has seen the biggest prices rise in England over the last 12 months, set at 14.9%.

This compares to the North, where the typical property has increased by 5.6%.

Top tips

But if you're struggling to purchase your first home, these are the top ways for first time buyers to get on the property ladder:-

Shared Ownership - Buy part of a property and pay rent to the co-owner. There are three options:

• New Build HomeBuy - buy a share of a property from a housing association, typically 50 per cent, and pay rent on the rest.
• Open Market HomeBuy - you buy 75 per cent of a property and the remaining 25 per cent with the help of an equity loan from a specified lender.
• Social HomeBuy - social housing tenants can buy their home outright or as a minimum share of 25 per cent, with the housing association or council offering a discount on the remaining 75 per cent.

Joint Ownership - Buying with friends, family or a co-investor means you can maximize borrowing and share the deposit, other expenses and living costs.

No deposit - Some mortgage lenders offer 100 per cent mortgages but this may result in a higher interest rate because of the risk that the lender is taking, and if the value of the property falls, you may find yourself in negative equity. A few lenders may "lend you a deposit" as part of the mortgage.

New housebuilders - All sorts of incentives are being offered to first-time buyers - stamp duty paid, furnishings, white goods, cash-back, shared equity etc.

Parents - They can give a small sum, help with purchasing costs, take out a joint mortgage - or "gift" a home. Almost half of first-time buyers now seek help from their family.

Auction/Reverse Auctions - Houses can go for 40 per cent less than High Street prices but repossessions can be in poor condition or bad area. Alternatively, there are online "reverse auctions" - where the lowest single bid wins.

Lodgers - You can look at larger properties and take revenue into account with a mortgage. Up to £4,250 is tax free under the Government's "rent a room" scheme.

Right to buy - Council tenants can buy their own home for less than the market value based on the length of time they've lived there.

We want to know what you think. Are you struggling to get on the property market? Do you think house prices are out of control? Or have you managed to get on the ladder by buying with friends? Get in touch now using the email form below, text GMTV on 81189 (cost 25p + network rate) or send us a video message on 07739672673 (cost 50p + network rate).

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Find out if you could qualify for a mortage by clicking on the article below