For most young Londoners, getting on the property ladder in the capital seems like an almost impossible feat.
House price growth might have slowed during the pandemic, but the city still has the highest property values in the country, at an average of £524,000, according to official figures, compared with £278,000 nationally.
Estate agents have reported growing demand from first-time buyers in London recently, many of whom saved up funds during lockdowns.
Those able to buy in the capital want good value for money, but also the ability to buy in desirable areas – where they actually want to live.
To find these first-time buyer hubs, estate agency Savills used a metric ranking boroughs on employment rates, a key indicator for prosperity, and affordability, based on the ratio of house prices to local earnings.
The analysts also found the average value of the cheapest 25pc of properties in the area, the part of the market first-time buyers are most likely to target. These are the best boroughs to purchase a first home in the capital.
Wandsworth was the highest ranking borough for first-time buyers, according to the metric. It has the highest employment rate in the capital, at 77pc, and the cheapest quartile of homes cost an average of £472,348.
Buyers will need more than 14 times their salary to get on the property ladder, almost double the national average. But it is affordable in relative terms when compared to other boroughs in London. Nearby Kensington and Chelsea, for example, has an average ratio of almost 25.