Will Labour help Londoners get on the property ladder, as they promise to build 1.5 million new homes?

London is the most expensive area for first-time buyers - (Shutterstock / ZGPhotography)

The deposit needed for a first-time buyer to purchase a home in London versus the rest of the country hit record levels in October, as housing affordability worsened in the capital.

A typical first-time buyer must now amass a 30 per cent deposit of around £142,588 to get on the ladder in the capital, about two-and-a-half times the amount needed anywhere else in Britain (£58,000).