David Bexon, managing director, SmartNewHomes.com, commented: “Homeownership is fast becoming a privilege for the wealthy with reports that average house prices in London have broken the £300,000 barrier. This brings more bad news for the capital’s first-time buyers and young families, both of whom are facing a continuous uphill struggle.
“With average prices in the South East also reported as being in excess of £250,000 there appears to be little reprieve for those looking to step onto the housing ladder in the UK’s most expensive regions. As a result, we have been calling for Government to scrap stamp duty for first-time buyers – offering them a lifeline to get out of rented accommodation and onto the housing ladder.”
