Stipendium, which was quoting the house price index released by the Office for National Statistics last month, said the average price paid by the nation’s first-time buyers has increased at the same level, 12 per cent, as those already on the property ladder.
The value of the home bought by the average first-time buyer is around 71 per cent of the price paid by existing homeowners.
In some areas of the market, they are paying a far similar level in order to secure their first home.
In Tower Hamlets and Newham, the average price paid by a first-time buyer equates to 95 per cent of the average price paid by existing homeowners, with Waltham Forest and Hackney at 89 per cent, Islington at 88 per cent and Barking and Dagenham at 87 per cent.
Around Britain prices were also steep for first-time buyers, in Blaenau Gwent in Wales they were 87 per cent of the average price paid by existing homeowners. This was followed by Hull 85 per cent and Stoke-on-Trent at 84 per cent.
In Elmbridge, the average first-time buyer house price was £452,057, which is 56 per cent of the wider price paid by existing homeowners at £802,880.
Christina Melling, chief executive of Stipendium, said: “The task of securing that first foot on the ladder remains unsurpassable for many and it’s easy to see why.
“Not only has the average price paid by a first-time buyer kept pace with the wider market during a period of unprecedented house price growth, but the cost of a first home remains extremely high and is some 70 per cent of the price paid by second and third rung buyers.
“In some areas, the average price of a first-home is almost on par with the price paid across the rest of the market, but first-time buyers are at a significant disadvantage as they don’t have the financial foundation of an existing home to sell.”