First time buyers need five years' savings

Research by Stroud & Swindon indicates first time buyers in London need to save for an average of seven years and five months to afford their first property, compared with three years eight months in the East Midlands. House prices in the Greater London area have risen unrelenting in the past year and many observers have noted that the London market has not slowed down with recent interest rate rises. Increases across most of the UK were small, with most regions seeing a rise of just one month, but in the London area the average saving time required grew by two years. Commenting on th...