First-time buyers paying more despite falling London house prices

First-time buyers in London are still paying more despite falling house prices, according to a new report. A Gatehouse Banks analysis shows house prices in popular areas with first buyers has risen 4.3% despite house prices dropping by 1.9% across the capital on average. Average London property values have been falling on an annual basis since March last year, but affordable areas such as Barking, and Dagenham have seen a rise in the average price paid by first-time buyers by 2.91% - up from £276,701 to £284,751 in the same period. Other parts of the capital to see a rise were Richmond Upon Thames at 2.12% and the City of London up to 16.24%.

East London Guardian (13/07/2019)