Adjust the Lifetime ISA house price limit to reflect current market values, allowing first-time buyers in high-cost areas access to homes under this program.

We think the £450,000 limit, set in 2017, no longer reflects housing affordability. UK house prices have risen by around 25%, with London’s average now around £525,000. We believe many first-time buyers are unable to use the Lifetime ISA to purchase in high-cost areas, limiting access to government assistance for young buyers. We think an updated limit would help bridge the gap in today’s housing market.