Individual Savings Accounts
The question
To ask the Chancellor of the Exchequer, pursuant to Question 7286 answered on 15 June 2026, what assessment she has made of the adequacy of the metric used to assess the £450,000 Lifetime Isa limit for first time buyers; and whether she has made an estimate of the number of first time buyers leaving areas of high house prices to buy property.
Answered by Rachel Blake
The UK House Price Index is an official statistic produced jointly by HM Land Registry, the Office for National Statistics and other government departments. Information on the methodology used to calculate house prices and averages is available at: About the UK House Price Index.
Published UK House Price Index data shows that the cap remains above the average price paid by first-time buyers in all regions of the UK except London, where average prices are influenced by boroughs with particularly high property values.
The Government does not hold data on the estimated number of first-time buyers leaving areas of high house prices to purchase property elsewhere.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →