First-time buyers in the UK face a 61% increase in monthly mortgage payments since 2019, now averaging £1,075.

Rising house prices and interest rates are key factors, with the average first-time buyer property costing £227,757.

The north-west region has experienced a 33% price hike, adding financial pressure on buyers with stagnant wages.

The Bank of England's decision to maintain interest rates at 5.25% has increased borrowing costs for homeowners.

Political parties have proposed measures to assist first-time buyers, including Labour's mortgage guarantee scheme and the Conservatives' permanent stamp duty threshold.

Recent data shows a slight decrease in average salaries in May, indicating a looser labor market with more junior and entry-level job opportunities.

Unemployment has reached its highest level in two and a half years at 4.4%, emphasizing the need for government intervention to address housing challenges.