Is London's housing market set to soar?

House prices across the country have risen 14% since the last general election

Updated: 
Is London's Housing Market Set to Soar?

House hunting in London can be an absolute nightmare with horror stories revealed daily of tiny properties on sale for astronomical prices.

The couple looking to buy a house in this video are not actually a couple at all - they've only met a handful of times but are looking to invest in a property together all the same.

This is thanks to a new solution that will lend a helping hand to young people looking to buy a property in the capital.

Propertybuyersmatch.co.uk is an online service that matches like-minded people who are looking to buy their first home.

This may be the answer that young people all over London have been looking for.

Ross says: "I've been really keen to get onto the property ladder, which is obviously a huge challenge for anyone my age. It's a really big consideration but something that I'm really keen to do."

Katie says: "For a deposit size you're looking at 15 to 20%."

House prices across the country have risen 14% since the last election and it was a key point in the campaign, although the London property market has slowed in recent months.

Wages during the same period of time have remained broadly flat however, and UK properties now cost as much as five times the average first-time buyer's salary.

Statistics in the video show that it could take 29 years just to save up the deposit.

Iain Hawthorn and Emma Leicester developed the Property Buyers Match site together.

Emma told The Mirror: "My partner and I developed this idea after recognising there was a Facebook generation who lives and work in London," Emma told The Mirror.

Adding: "We asked ourselves, if we didn't have the help of our parents to get on the property ladder, how would we do it? Wouldn't it be great if you could co-buy?"

But she also says they advise those co-buying should run through a set of questions before they enter into an agreement, asking: "How long is this for? What are your plans? What are my plans? Do you intend to travel? Would you want to rent out your place?"

Cosy studio properties

Cosy studio properties

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