THE average house price across the Cumberland Council area for first-time buyers has risen by a fifth over the past five years, new figures show.

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 the Cumberland Council area, which takes in an area from the Scottish Border to Millom, were paying an average of £141,900 for a house in April.

It was up 21 per cent from an average of £117,700 five years earlier.

Overall house prices in the Cumberland Council area have also jumped 21 per cent over five years, reaching £166,000 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".

The Conservatives' manifesto says the party will make the temporary stamp duty threshold of £425,000 permanent for first-time buyers and promises a new help-to-buy scheme for those with small deposits.

Meanwhile, Labour says it would extend the current mortgage guarantee scheme, which supports banks to offer 95 per cent home loans.

Propertymark, a membership organisation for estate agents, said surging interest rates and inflation have impacted the housing market "with force".

Nathan Emerson, chief executive, added the organisation is keen to see targeted support for first-time buyers at the first opportunity from any incoming government.

"The potential of home ownership should never be a prospect that is ever out of reach for people," he said.

"As inflation is now back within the range initially targeted, we are optimistic to see the base rate cut as soon as realistically possible, which would be very welcome news for people stepping onto the housing ladder when it does happen."

The most recent Land Registry figures also show a significant drop in housing sales compared to five years prior, with over 26,600 sales across Great Britain in February this year compared to 66,000 the same month in 2019.

In the Cumberland Council area, there were 152 sales in February this year – down from 325 five years earlier.