First-time buyer mortgages up in London

London has attracted a growing number of first-time buyers, despite a decline in other parts of the country. The capital recorded 9,960 first-time buyers' mortgages completed in the second quarter, up 1.2% on a year ago, UK Finance figures show. Economists said that the sharper drop in property prices in London may help to explain why first-time buyer interest had grown in the city. Analysts noted that affordability was still stretched and that overall lending to first-time buyers in the capital was still well below the national average.

The Times (20/08/2019)

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