First-time buyers born today could be paying £1.2m for a foot on the ladder

February 25, 2019

The latest research by one of London’s largest independent letting and sales agents, Benham and Reeves, has looked at the current struggle facing the nation’s first-time buyers (FTBs) and how this could increase over the next 34 years for those born today.

Benham and Reeves looked at the historic FTB property price data from the Land Registry and how this had changed month to month across each UK region and London borough, before projecting these monthly price changes forward 34 years to see what the average first-time buyer house price could hit for those born today.

With the average FTB now 34 years of age and today’s average FTB house price in England at £207,526, those born today could be looking at an average of £1,214,381 to get on the ladder in 34 years’ time.

This is, of course, much higher in the capital and despite the current market slowdown, the average FTB house price in London is now £412,679, although this could increase to a huge £4.5m over the next 34 years.

The data shows the average FTB house price would also top the £1m mark in the East of England and the South East, where the average house prices are currently £241,259 and £259,567 but could hit £1.9m by 2052.

The cheapest area to buy for FTBs born today would be the North East with a predicted price of £210,739, up from £110,645 today.

Looking into London, Kensington could be toppled as the capital’s most expensive borough, from an FTB perspective anyway. Despite the much higher price of property today, the slower rate of growth in FTB property prices in the last seven years means that Waltham Forest could overtake the PCL borough with an eye-watering average house price of £11.5m by 2052.

Kensington would still rank second with an average FTB house price of just under £8.4m, with Hackney (£6.8m), Westminster (£6.8m) and Haringey (£6.6m) all home to some of the highest prices when getting on the future ladder.

Hounslow has seen the slowest rate of growth in FTB house prices historically and ranks as the most affordable for an FTB born today, but even then they would need a whopping £2.8m to get on the ladder in 34 years’ time.

Benham and Reeves Director, Marc von Grundherr, commented:

“This research considers the ups and downs of the first-time buyer market historically and how things could play out for the generation of first-time buyers being born today if these trends were to repeat themselves. 

Of course, it’s impossible to predict the future of the UK property market, particularly given the current turbulence caused by wider economic and political factors, however, this research acts as a warning of what could happen if we continue to fail in the delivery of affordable starter homes.

Not only does it show the huge jump in prices over previous years but how this could worsen further down the line. 

While we hope that prices won’t reach these dizzying heights, we’ve certainly seen stranger things happen across the UK property market in the last 34 years, so who knows what the next 34 may bring.”

Region
Average FTB House Price
Jan-12
Dec-18
Dec-52
London
£256,169
£412,679
£4,562,327
East of England
£159,417
£241,259
£1,909,148
South East
£173,993
£259,567
£1,907,352
South West
£155,722
£210,977
£945,789
East Midlands
£114,714
£162,200
£898,665
West Midlands
£120,179
£166,881
£826,933
Yorkshire and the Humber
£108,443
£141,520
£519,388
North West
£105,748
£138,288
£514,293
Wales
£109,838
£139,487
£443,639
Scotland
£101,906
£121,331
£290,006
North East
£97,313
£110,645
£210,739
England
£145,361
£207,526
£1,214,381
 
Borough
Average FTB House Price
Jan-12
Dec-18
Dec-52
Waltham Forest
£214,718
£419,083
£11,565,911
Kensington and Chelsea
£810,493
£1,207,159
£8,378,019
Hackney
£311,042
£523,280
£6,825,031
Westminster
£603,575
£895,636
£6,819,146
Haringey
£284,508
£478,903
£6,627,641
Merton
£264,034
£447,387
£6,086,550
Lewisham
£208,529
£366,680
£6,069,420
Barking and Dagenham
£157,097
£287,108
£5,620,292
City of London
£555,616
£809,007
£5,465,194
Redbridge
£215,044
£370,373
£5,428,181
Bexley
£175,586
£310,631
£5,264,108
Lambeth
£278,869
£453,022
£5,251,664
Greenwich
£210,418
£352,939
£4,677,804
Camden
£488,702
£706,879
£4,575,705
Enfield
£213,313
£352,056
£4,308,058
Havering
£186,160
£312,903
£4,251,056
Richmond
£348,635
£528,510
£4,247,587
Hammersmith and Fulham
£437,937
£641,542
£4,245,412
Southwark
£284,136
£446,372
£4,233,466
Hillingdon
£208,684
£341,413
£4,030,421
Bromley
£216,935
£353,448
£4,005,025
Croydon
£182,269
£302,758
£3,987,306
Newham
£211,778
£342,734
£3,919,806
Sutton
£194,578
£320,221
£3,899,370
Ealing
£273,773
£426,620
£3,860,887
Kingston
£265,393
£409,397
£3,682,426
Barnet
£294,548
£446,786
£3,585,976
Tower Hamlets
£275,938
£415,189
£3,484,293
Islington
£413,846
£582,156
£3,409,486
Harrow
£251,169
£386,293
£3,350,252
Wandsworth
£359,897
£521,095
£3,318,529
Brent
£274,150
£406,390
£2,960,547
Hounslow
£232,753
£353,076
£2,847,158
London
£256,169
£412,679
£4,562,327

 

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Estate Agent Talk

The Future of Urban Real Estate: Trends and Predictions for 2026

Affordability pressures, hybrid work arrangements, and steep borrowing costs are heavy influences on urban real estate for 2026. We’re seeing an increase in mixed-use development and a renewed focus from investors on markets with a steady demand. Markets that can balance housing access, transportation, lifestyle amenities, and flexible workplaces will come out on top. Major…
Read More →
Estate Agent Talk

London’s prime residential market isn’t falling — it’s repricing

By Daniel Austin, CEO and co-founder at ASK Partners London’s prime residential market has looked subdued by global standards, but framing current conditions as a decline overlooks the more important underlying dynamic. The market is undergoing structural repricing driven by higher interest rates, shifting tax policy and a more volatile geopolitical environment. This is not…
Read More →
Breaking News

Foxtons Lettings Market Index – April 2026

Market activity strengthens with applicant demand recovering and supply remaining ahead of last year   After the implementation of the Renters’ Rights Act, April provides the final snapshot of market conditions ahead of implementation, offering a clear benchmark for how the sector is positioned entering this new regulatory environment. The lettings market strengthened through the…
Read More →
Breaking News

Five hidden costs catching home buyers out

FIVE hidden costs that’re catching home buyers out, AFTER they put their offer in, says expert • Buyers often focus on deposits and mortgages, but overlook thousands in extra costs • Delays, surveys and legal fees can quickly inflate budgets • Unexpected gaps in funding are becoming increasingly common A lot of home buyers think…
Read More →
Breaking News

Housing Insight Report: March 2026

Buyer activity and sales agreed picked up this month as the housing market entered the spring season, with increased stock levels giving consumers more choice despite ongoing affordability pressures. Meanwhile, the rental market remained highly competitive, as tenant demand continued to outstrip supply and concerns over future regulation weighed on landlord confidence. Sales 1. The…
Read More →
Breaking News

Renters’ Rights Act risks leaving the tenants it set out to protect with fewer options

Fewer than a third of landlords are fully aware that the Renters’ Rights Act bans advance rent payments of more than one month, according to new research from LRG. The survey of 650 landlords and tenants across England and Wales found that 43% know the rules have changed but remain uncertain of the details, while…
Read More →