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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

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


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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