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GOOD NEWS ON HOUSE PRICES: "Deposit for first home in London hits all-time high of £64,000"

Link to Evening Standard

"The average deposit for first-time buyers in London has hit an all-time high of £64,000, figures reveal today.

"Rising prices and lenders’ refusal to advance 'high-risk' mortgages means they are being forced to find ever more cash to own a property.

"The hurdle has not stopped a flood of first-timers returning to the housing market with £2.5 billion worth of mortgages advanced in the spring, up by almost half on last year.

Property experts said buyers have been encouraged by record low mortgage rates, schemes such as 'Help to Buy' and a fear of being left behind by a rising market."

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