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

Dolphin v Beauchamp Estates v Hudsons – Elite Apartment Rental Options in London SW1

London has long been known as a potpourri of diverse cultures, lending it a whimsical charm while being a major global hub. Renowned for its juxtaposition between modernity and royal heritage, it’s a unique blend of ancient landmarks and contemporary living. You’ll find avant-garde architecture sitting comfortably alongside historic streets and vibrant neighbourhoods. While the…
Read More →
Christmas Decorations - Good or Bad for Selling
Breaking News

Stay secure this Christmas: Home security tips for high-value homes

High value home insurance specialists, Stanhope, are warning homeowners to be especially careful this Christmas. “It’s a busy time for everyone, including burglars,” says Director, Matthew Ashton, who highlights why high value homes are particularly vulnerable and what to do about it. “High value homes are easy to identify thanks to tell-tale signs of wealth…
Read More →
Letting Agent Talk

Six months on: How the new anti money laundering regulations are reshaping the lettings market

Six months have passed since the anti-money laundering (AML) rules came into effect, bringing mandatory financial sanctions checks into every area of the lettings market. When the changes were first introduced, many landlords were surprised by the breadth and immediacy of the requirements. Half a year on, the sector is now seeing how the industry…
Read More →
Breaking News

Private rent and house prices, UK: December 2025

Main Points Average UK monthly private rents increased by 4.4%, to £1,366, in the 12 months to November 2025 (provisional estimate); this annual growth rate is down from 5.0% in the 12 months to October 2025. Average rents increased to £1,422 (4.4%) in England, £820 (6.1%) in Wales, and £1,012 (3.3%) in Scotland, in the…
Read More →
Breaking News

Breaking Property News 17/12/25

Daily bite-sized proptech and property news in partnership with Proptech-X. How to get Proptechs from MVP to EXIT Reporter Zara S. Proptech has spent years trying to prove its relevance to the property industry. New platforms appear daily, capital flows in cycles, and “disruption” is promised more often than it is delivered. What is far less…
Read More →
Estate Agent Talk

Why Real Estate Pros Should Care About the RoHS Directive in Smart Home Tech

Some of the tasks that real estate pros perform nowadays include negotiating and posting, and checking houses on property listings. You also have to deal with buyers who expect “smart-everything,” landlords who want long-term reliability, and tenants who care about safety and sustainability. In the middle of these expectations, there’s rohs directive. Why should you…
Read More →