Home owners wanting to take their second step on the property ladder face some of the toughest market conditions ever seen, a study has said.
The cost for a "second stepper" to trade up to their next home is 4.7 times annual average earnings - the second highest ratio since records began 25 years ago. The situation has improved on a year ago, when the ratio stood at 5.2, according to Lloyds TSB's home movers review.
The study raised concerns that the high hurdles still faced by this sector are creating a "bottleneck" in the housing market, by limiting the choice available to first-time buyers and creating a greater scarcity of potential home buyers higher up the chain.
More top news
A 62-year-old woman has been found alive more than a week after she vanished while on a hiking trip.
The first African American actor to play the lead role in Les Misérables on Broadway has died, aged 21.
Crisis talks are to be held on the future of curry houses as cheap supermarket deals and immigration rules threaten the £4 billion industry.