Aspiring home owners in 13 English cities may find themselves locked out of the property market by Help to Buy regional price caps, analysis by Money.co.uk suggests.

The website compared the average cost of buying a new-build property in different cities with the level at which the government is planning to cap purchases through its Help to Buy loan scheme when support is scaled back next year.

The research found that there were 13 English cities in which the price caps come in below the average cost of a new-build home.

For London as a whole, the average new build comes in below the £600,000 price cap for the capital at just over £555,000.

However, within the capital, there were eight boroughs in which the average cost of a new-build home exceeds the £600,000 London cap.

These were Kensington and Chelsea, the City of Westminster, The City of London, Hackney, Hammersmith and Fulham, Wandsworth, Merton and Camden.

Kensington was unsurprisingly the least affordable location with average new-builds costing around £1.2m according to Office for National Statistics data – or in other words £584,000 more than the proposed regional price limit for Help to Buy in the capital.

But even in Hackney, which was once a more affordable borough, the average new build comes in at £648,322 – or close to £50,000 more than the Help to Buy price cap.

Outside the capital, Homebuyers in Cambridge are likely to face the biggest shortfall, with average new builds costing £606,151, compared to the regional price cap of £407,400.

The other English cities in which the price of new builds outstrip the planned regional caps are: Ripon, York, Bath, Winchester, Exeter, Hereford, Newcastle, St Albans, Chichester, Leeds, Sunderland and Leicester.