The number of mortgages granted to first-time buyers in the third quarter of this year is at its highest level since 2007, according to new figures from the Council of Mortgage Lenders (CML). 

Location is one of the most important considerations for home buyers when it comes to deciding on a new house, and many purchasers are prepared to pay a premium to secure their ideal setting.

House prices across the UK increased by 7.7% on average on an annual basis in September, taking the average property value to £217,888. On a monthly basis, average prices rose by 0.2% compared to August.

New research from Bank of Scotland has revealed that Scottish parents are prepared to pay a premium of as much as £80,000 on average to live in the catchment area of a top performing state school.

Recent research into attitudes towards housing tenure has found that home-ownership is still the nation's overwhelming preference and aspiration - and not purely for financial reasons.