The top London hotspots for first-time buyers: a decade makes all the difference as buyers in their twenties flock to Crystal Palace and thirtysomethings head for Isleworth

First-time buyers in their thirties, on higher pay and with heftier deposits, spend an average of £64,000 more on their first home than those in their twenties.
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Ruth Bloomfield21 July 2017

First-time-buyers in their twenties spend an average of £316,000 on their home. Those in their thirties spend £380,000. New research from estate agents Bairstow Eves and Countrywide shows the difference a decade can make when it comes to entering London’s property market.

One in four homes in south London’s Crystal Palace, with its slightly alternative vibe and burgeoning café culture, is sold to younger first-time buyers who spend £330,000. Sidcup, 10 miles further east and on the fringes of Kent, is their second choice, with the average first-timer spending almost £257,000.

Woodford, on the cusp of London and Essex, also attracts hefty numbers of first-time buyers who spend just over £372,000 — which allows them to skip the flat stage altogether and move straight into a family-size home.

The most popular central London option for twentysomething first timers with a bit of help from Mum and Dad is Battersea, where the average spend is £404,000. Peckham, Stratford and Acton are also popular choices.

First-timers in their thirties, on higher pay and having had more time to save a deposit, are most likely to buy in Isleworth — near the Thames and Kew Gardens, and more affordable than neighbouring Richmond. They spend about £428,000, and represent four in 10 buyers here. “Sales to first-time buyers in the capital are on the up,” says David Fell, research analyst at Countrywide and author of today’s report.

“This year they make up the highest proportion of buyers since 2001.”

FIRST TIME BUYERS IN THEIR TWENTIES

Postcode Area Sales to first time buyers in their 20s Average price paid by first time buyers in their 20s
SE19 Crystal Palace 25% £330,000
DA14 Sidcup 24% £256,917
E18 Woodford 23% £372,156
CR7 Thornton Heath 21% £328,333
SW11 Battersea 19% £404,000
UB6 Greenford 18% £317,990
RM7 Romford 17% £308,773
W3 Acton 17% £410,000
E15 Stratford 16% £406,661
SE15 Peckham 15% £338,500
All first time buyers in their 20s 9% £316,032

FIRST TIME BUYERS IN THEIR THIRTIES

Postcode Area Sales to first time buyers in their 20s Average price paid by first time buyers in their 30s
TW7 Isleworth 39% £428,167
SE16 Rotherhithe 36% £473,100
CR8 Purley 32% £361,150
HA6 Northwood 30% £297,000
SW12 Balham 29% £455,000
N21 Winchmore Hill 27% £485,000
NW10 Willesden 25% £503,500
N10 Muswell Hill 24% £414,000
SW9 Brixton 22% £375,000
W13 West Ealing 22% £583,000
All first time buyers in their 30s 18% £380,546

Source: Countrywide/Bairstow Eves