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London home price surge hits first-time buyers

With little help likely from parents, they are forced to make huge downpayments, take out large mortgages
Friday, October 24, 2014 - 05:50

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London home values jumped 20 per cent in the 12 months to August, pushing the average price up to £514,000.

London

EVEN the Bank of Mom and Dad can't keep pace with London's spiralling property market.

The average cost of a home in the city has climbed to over £500,000 (S$1 million), forcing first-time buyers to make the largest downpayments as a proportion of their income in at least a

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