Properties for Auction London

Additionally they say a first-time buyer buying their house this year could have spent a mean on rent in 900 of GBP52, their lifetime.

These figures are based on the people moving from their parents homes at the typical and also 18 first-time buyer being 31.

In addition they found two-fifths of renters do not believe they’ll ever be able to buy.

“The north south divide we are now seeing in the UK is an obvious example of this.”

Those buying a property for the first time this year will have spent an average GBP31,300 on rent. In London the typical buyer may have spent more than double that, . 300 at GBP68,

He average expense of a home in more than 50% of London postcodes has hastened to new figures.

142 (51%) of 279 postcode districts in Greater London had the average price of at least GBP500,000.

Whereas, 99.4% of postcode districts outside London in the remainder of England and Wales were found to have an average price of less than GBP500,000 so buying property at Property Auctions Scotland could be your best buy.

The research is founded on Land Registry figures for data from estate agents and costs.

In the SE15 and E1 in the East End which includes Shoreditch and Whitechapel in Peckham, typical prices have reached 900 GBP501, GBP503,000 and respectively .

The most expensive place to buy is West London with postcodes starting with W commanding an average cost of GBP1.2m.

On the flip side, E postcodes in east London have a typical price of GBP434,000.

Costs in every borough of London have gone past GBP300,000 and appear to be increasing most quickly in the least , that were expensive areas the Land Registry has revealed. In Dagenham & Barking and Hillingdon prices increased by more than 15% in 2015.