Research for Mayor of London Sadiq Khan shows first time buyers in the capital are losing out to overseas investors acquiring property.
The number of first time buyers increased by 30% in the last month with demand expected to continue with attractive mortgage deals.
The number of first time buyers relying on the bank of mum and dad has reached a historic high and the trend is set to continue.
Home buyer borrowing in London reduces 5% or £310 million in the final quarter of 2016 continuing the downward trend for the capital.
Latest data from Moneyfacts shows the amount of cashback offered by lenders to first time buyers with small deposits is lower in the last two years.
The rise in property values for the East of England are leading the market with new-build homes seeing a 32% price increase in the last year.