House prices for first-time buyers in Burnley have risen by nearly a third since 2019

It comes as property website Rightmove said the typical mortgage payment for first-time buyers has increased by £400 a month and called on the next government to support those buying their first home.

The latest figures from the Land Registry's house price index show first-time buyers in Burnley were paying an average of £97,700 for a house in April. It was up 29% from an average of £76,000 five years earlier.

Overall house prices in Burnley have also jumped 29% over five years, reaching £108,000 in April 2024.

Tim Bannister, Rightmove’s property expert, said reduced mortgage rates would help first-time buyers in the short term, "more so than election housing promises".

It comes as the property website said the average mortgage payment for a typical first-time buyer in Great Britain has risen by 61% over the past five years – from £667 a month in 2019 to £1,075 currently.

Mr Bannister added: "As rates have increased over the last five years, the amount that a typical first-time buyer is paying each month on a mortgage has outstripped the pace of earning growth.

"Some first-time buyers are looking at extending their mortgage terms to 30 or 35 years to lower monthly payments, or looking at cheaper homes for sale so that they need to borrow less."

He said: "We hope that the next government can support first-time buyers with well thought out policies, which address the difficulties of saving up a large enough deposit and being able to borrow enough from a lender."