Asked
What assessment she has made of the potential merits of adjusting the Lifetime ISA property price cap in line with (a) inflation and (b) average house prices.
Reply
Data from the latest UK House Price Index(opens in a new tab) shows that while the average price paid by first-time buyers has increased, it is still below the LISA property price cap in all regions of the UK except for London, where the average price paid is affected by boroughs with very high property values. The Government keeps all aspects of savings tax policy under review.