First time buyers: richer and... younger?
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Figures out yesterday showed that the cost of buying a home in London rose on average £28,000 last year. That’s a yearly rise equivalent to the average London income. No wonder renters feel that the dream of home ownership is out of reach.
The Land Registry data also indicates another trend: younger first time buyers.
Across England and Wales the number of properties sold for under £200,000 fell by 7% over the last year, while the number of properties sold for over £1 million increased by 14%.
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