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The estate agent found that London was home to the smallest first-time buyer discounts, with first-time buyers spending, on average, 4.3 percent more than other buyers.
In Newham, the discount was just 5.4 percent, while Tower Hamlets, Waltham Forest, and Hackney also offered a small first-time buyer discount.
Managing Director of Barrows and Forrester, James Forrester, said: “While a red hot market has been heralded as a sign of economic success during the pandemic, the steep increase in house prices won’t be so warmly welcomed by the nation’s struggling first-time buyers.
“Despite talk of an interest rate increase, we look set to see further upward growth and so the outlook is a little bleak for those scrimping and saving for a mortgage deposit without the financial security of an existing home to sell.
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