100% of London 'unaffordable' for first-time buyers

London property deemed unaffordable for first-time buyers Credit: REUTERS/Toby Melville

All local authority districts in London have been deemed "unaffordable" for first-time buyers, according to Halifax.

It has found 100% of London, the South East, the South West and the East of England are out of reach for people taking their first step on the property ladder.

In contrast, Halifax found 75% of districts in Wales were affordable, as well as 70% in the North West and 52% in the East Midlands.

Yorkshire and the Humber was found to be the region with the biggest percentage of local authority districts which were affordable to first-time buyers, at 76%.