First-time buyers struggle in London property market

Kensington and Chelsea have been named as the most expensive area to buy property in London, according to a new survey. The National Housing Federation has released its Home Truths survey which details the top ten most expensive borough's within the capital and the top five most affordable. Average prices in Kensington and Chelsea top the £1 million mark, the data shows. The three most affordable boroughs in London are Barking & Dagenham, Bexley and Waltham Forest. Belinda Porich, head of London region at the National Housing Federation, said that the statistics show how unaffordable property in London is for first-time buyers. "With average house prices of over 20 times the average income in some areas of London, it has become increasingly difficult to get onto the property ladder," she said. "Housing associations across London are working hard to help combat the housing crisis but need continued government investment to build new homes."