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Jump in sales to first home buyers

Increase in sales to first home buyers

There's been an increase in the number of first time buyers entering the London property market. Marsh & Parsons' latest London Property Monitor shows they account for 28% of purchases in the three months to March 2015, up from 21% in the previous quarter. Investors account for 29% of sales. It also found one-bedroom properties have risen in value by £75 a day over the past year.

Londoners feeling the housing crisis

London buyers feeling the housing crisis pain Credit: Yui Mok/PA

London home buyers are feeling the housing crisis more sharply than anywhere else in Britain. The Chartered Institute of Housing found that 76 per cent of people in the capital believe there is a housing crisis in their local area. 81% of Londoners said there is a housing crisis in Britain.

"As our poll shows, this sense of crisis is most strongly felt by people in London, where prices are highest. Many areas are well on the way to becoming out of bounds to all but the very wealthiest households - if things carry on as they are ordinary people will simply not be able to afford to live in many areas of the capital."

– CIH chief executive Grainia Long
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