First time buyers in London are paying double what their counterparts in the rest of the UK are to get on the property ladder, according to the latest figures from Lloyds Bank.
The average price of a first-time buyer home in the capital has risen by two thirds over the past five years to hit £420,132, versus an average of £210,515 in the rest of the country.
The average deposit paid by London-based first-time buyers has also gone up 62% since 2013 and is now £92,833, the lender revealed.
