London’s salary to house price averages revealed

Jessica Nangle

June 23, 2017

Those living in Brent, Waltham Forest and Hackney are least likely to afford to buy a house, findings from sellhousefast.uk reveal.

The City of London, Kensington and Chelsea and Westminster are the most affordable where house prices are relative to earnings.

These statistics come as recent ONS reports indicated that house prices in the capital are averaging £533,068, whilst the average wage is £49,140.

This means homes in London are 11.37 times more the average earnings of Londoners.

Robby Du Toit, managing director of Sellhousefast.uk, said: “With the property market in London excruciatingly expensive and unattainable for many, this research shows the disparity between earnings and houses prices across the different boroughs is widening.

“More needs to be done to bridge the gap and make the property market one for all, rather than attainable for those individuals in just the prosperous boroughs.”

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