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Lloyds Bank have published data that suggests house prices for first time buyers in London have risen by an average of 67%. Some areas of the capital have seen even greater increases; including the top performing area Waltham Forest at 93% growth from £212,629 in 2012 to £409,491 in 2017.Subsequently, Newham is up 92% and Greenwich is up 91% but all three of these high performing, neighbouring areas had prices significantly below the London average five years ago showing that they are simply levelling out with the rest of the market with such strong growth.Westminster was the worst performing area for price growth since 2012 – an increase of 28% has been recorded taking the average price to £595,568 and posting figures of less than half of the gain across the capital; the numbers are also significantly lower than the national average of 50%.It is believe that the sharp increases to monthly mortgage payments and deposits have made it much more difficult for younger property buyers. Lloyds Bank themselves saw a 5% decline in first time purchases in 2016 as a product of these financial increases.The average mortgage taken out by first time buyers in London has soared since 2012 by 71% - up from £185,538 to £317,253 and the average mortgage in the capital is almost double the average for the rest of the UK at £168,296.There is major variation in the monthly payments made by first time buyers depending on the area of London they choose to invest in as Westminster sees monthly payments of £2,017 on average where Barking and Dagenham cost £1,055 on average, per month.For the rest of the country, the average mortgage payment is now £735 from £555 in 2012 but this still pales in comparison to the London average of £939 in 2012 to £1,386 at present – a startling £447 increase over the last five years.Deposits are also highest in London as the average is now £30,000 more than at this time in 2012. £57,393 in 2012 has increased to £87,852 in 2017 – more than double the deposit sum for first time buyers across the rest of the country at £37,570.It should come as no surprise that the London first time buying market is waning as prices continue to grow beyond the means of the average buyer. The capital will always be an incredibly expensive place to get onto the property ladder but the levels of increase are starting to hamper the market overall.The first time buying market is essentially the grassroots of the property ladder and lenders, such as Lloyds Bank, must support this facet of the property market. With declining numbers of first time buyers in London; incentives and support from lenders is anticipated to ensure the market flourishes through 2017.