First-time buyers in London four years older than in north | Money | The Guardian

First-time buyers in London four years older than in north | Money | The Guardian

The average first-time homebuyer in London is now 32, four years older than the average across northern England, Wales and Scotland, demonstrating the growing divide in prices.

The average across the UK is 29, the Halifax said in a report published on Saturday, which revealed wide regional variations. In Harrow, in north-west London, the average first-time buyer is 34, while in Selby in Yorkshire, the average age is just 25.

The national average first-time buyer age of 29 has only risen by one year since 1983, despite Land Registry figures showing property prices in England and Wales rose by 161% between January 1995 and July 2011 alone. Halifax said a sharp rise in parental support to help people buy their first property had kept the average age down.