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London’s housing market is as shambolic as it is horrendous. And while most of us are stuck in flat shares, some Londoners are lucky enough to escape the hellscape of renting and get a foot on the property ladder. Now the most popular areas for first-time home buyers in the Big Smoke have been revealed.
With renting becoming increasingly unaffordable, it makes sense that city dwellers are looking to take on a place of their own. According to new figures from Hamptons estate agency (reported in the Telegraph) the proportion of homes bought by first-time buyers hit record levels this year, with first timers making up a third of all property purchases.
Newham in east London is officially the most popular place for buying your first home in London. In Newham, first timers made up 77 percent of all property purchases in the first half of 2024, with buyers coughing up an average of £388,170. The most affordable homes were in East Ham, Beckton, Upton Park and Barking, while the most popular streets in the area were Earlham Grove (Stratford), Silvertown Way (Canning Town) and Gallions Road (Beckton).
Not far behind Newham was Barking & Dagenham, where the average house price was £309,530. The third most popular spot was Thurrock, which although is technically in Essex, it borders the London Borough of Havering.
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