Increase The Lifetime ISA House Price Cap to Reflect Inflation

Background

The LISA house price cap of £450,000 set in 2017 does not reflect the current financial landscape, with inflation adjusting this sum to around £625,000. I believe the cap should be adjusted to this figure, and re-adjusted annually or bi-annually, in line with trends of inflation.

Additional details

This change would allow more FTBs to benefit from the scheme, reducing a barrier to entry in the housing market and encouraging home ownership.