Property prices in the UK climbed up by 0.4% in May, according to the latest figures, bringing the average cost of a home in England and Wales to £167,912.
One in eight newly-weds are starting their married life saddled with more than £3,000 in debt, as the cost of creating their perfect day climbs to an average of £18,244.
The 0.3% upturn in the economy in the first quarter of the year has been matched by a marginal 0.1% increase in consumer spending, according to the latest figures from the Office of National Statistics (ONS).
Brits living the country life have proved to be savvier savers than their city-dwelling counterparts, setting aside an average of £8,060 more for a rainy day.
Spending on debit and credit cards increased by 3.6% in April in a year-on-year comparison. The research was conducted by Barclaycard and suggests that consumers may have a renewed confidence in the UK economy.
With would-be buyers still facing a number of financial stumbling blocks to getting on the housing ladder, the government has introduced a new scheme to get the UK’s property market on the move.
With buy to let lending taking up an increasing share of the mortgage market, up from 12.9% in the last quarter of 2012 to 13.4% in the first quarter of 2013, it seems that more and more buyers are keen to enter the rental market.
With the latest figures from the Council of Mortgage Lenders (CML) revealing that first-time buyer numbers increased by 20%, it seems that many are keen to get on the first rung of the property ladder, despite some of the financial hurdles involved.