First-time buyers told to commute

First-time buyers in London should look to commute into the city in order to save money, according to Hamptons International.

Research from the estate agents has suggested that first-time buyers will get better value for money if they by outside of the capital and commute into it for work.

Dulwich is being touted as a good location to buy, with properties there starting at £235,000 compared to £815,000 for a three-bed flat in London.

The research also revealed that investors and landlords who are looking for property outside the capital can find the highest yields in Brighton and St Albans.

Rob Bruce, research manager at Hamptons International said: "In the context of the current market, this research provides an optimistic signal for long-term buy-to-let investors hungry to build a property portfolio."

He added that despite the increase in the cost of capital, rental levels "continue to escalate above house price inflation, pushing yields higher".

Hamptons International has been established for 130 years.

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