Your dream of buying your first home may just be too difficult to fulfil. Research reveals that first-time buyers who are trying to buy one of the government's new starter homes will have to have an income of £100,000, as well as raise a deposit of £96,000 in many areas of London.
The study noticed 11 boroughs in the capital where starter homes were out of most young families' reach.
It is said that the cost of the homes out of the capital will be £250,000, while costing £450,000 in London.
The Commons library figured out that in order for a family to purchased a £450,000 property, they will need an annual salary of £100,000 in order to afford the mortgage payments, as well as save for a deposit of nearly the same value.
