The average millennial would have to live rent-free with their parents and save for eight years to be able to buy a flat in Richmond.

Considering average rent and mortgage rates in London studies have shown that Richmond is the eleventh most expensive borough for the average starter-home in the Capital at around £450,000.

Research concluded by finder.com that it wasn’t the trending ‘avocado toasts and brunches’ preventing the typical millennial living paycheque to paycheque on an average wage of £23,754 stepping on the property ladder but the steep housing rates.

Jon Ostler, UK CEO of finder.com, said: “For many millennials owning a property in London seems like a distant dream so we analysed all the lifestyle saving tips like cycling to work and skipping brunch!

“But we concluded that finding ways to avoid London’s high rental costs was by far the fastest way to save a deposit.”

The study also showed that despite the steep costs of home-owning in Richmond new homes were still less than the latest London-wide averages of £472,163.

Mr Ostler said: “Living with parents was the top tip to save, depending on how the parents feels about it”.

The data sourced from data.gov.uk and London Datastore took into account all London-style living costs including rent, bills, dining out, coffee take-aways, weekly travelcards for each borough, homemade lunches and reported average deposits for a mortgage from the council of mortgage lenders for first-time buyers.