First-time buyers flood back to London

In 2023, first-time buyers have made a significant comeback in London, purchasing 48% of homes sold in the first half of the year, up from 41% last year. The average price for first-time buyers in London reached £443,550, reflecting a £39,360 increase from the previous year. While wealthier buyers are opting for larger homes in desirable areas, those with tighter budgets are still being pushed to the suburbs. The trend indicates a shift in the market, with many first-time buyers returning to London after years of being priced out.

The Guardian (26/08/2024)   The Times (26/08/2024)