For me this question is not a difficult one to answer the in the past years the property prices areas in the UK are rising.  With the costs of mortgages going up, it is quite simple that buying a property in an area that has already reached the 1 million mark would be a risky investment. 

The choice really is yours, perhaps it’s just a case that you have lived in the Capital since a young age and have family, friends that are all in the London area. In this case you can be excused. The very idea of moving away from your family and friends, the area in which you grew up could be daunting.

In which case it’s better that you try and find a property in your home town. Nowadays a lot of youngsters are chipping in, and instead of renting they pay towards the mortgage. If you have a friend that is reliable and you can trust then this would be the perfect option. However taking out cash with friends is a risky situation and you would have to make sure that the paper work is made in the hands of a legal professional.

Whatever the case may be, having just one property in the London area as a pose to a cheaper property in other areas of the UK you really are risking putting yourself out of financial freedom. Consider if the market ever did fall then you would have a big problem.

If the property values dropped you could find yourself risking the chance of paying a loan back that is higher than the price your home is worth.  This would be a real downfall for you; in fact an unwise move such as this would put you into debt.

Every ones aims to get onto the property ladder however if you are a first time buyer it is highly recommended that you do your homework before buying a property in London. Areas such as Manchester, Sheffield and Chester are proving to be more popular property hot spots.