First-time buyers in London pay double to buy home

The London housing market has seen some rapid changes take place recently. People want to buy a new home and avoid some stiff fees. It is expected that London home buyers will want to pay double on their own. First time buyers in London are pleased with the selection that they find. But the price tag may push them out of the market in the future. They can pay double to buy homes in time.

Key Takeaways:

  • Average housing prices for first time home buyers in London is 64 percent higher than 5 years ago.
  • The initial deposit for a home in London is double that compared to the rest of the country.
  • It is still cheaper to buy than rent in London.

“Despite the recent slowdown in London house prices, the average amount a FTB will pay for a home in the capital has now increased to a whopping £420,132.”

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