Wednesday, Feb 24, 2016

Londoners need 266% pay rise to buy home in the city, National Housing Federation claims

Independent: Londoners need 266% pay rise to buy home in the city, National Housing Federation claims

The value of a typical London home is now at £526,085, more than 16 times the £32,838 average salary of the ordinary worker, according to figures by the National Housing Federation (NHF), which represents affordable housing providers.

Posted by becky @ 01:29 PM (2510 views) Add Comment


1. libertas said...

Assuming of course that everybody lives where they work, which has not been the case in London for over 100 years. Of course, folk take a train up to an hour from where they work and Crossrail will make that even easier.

Wednesday, February 24, 2016 11:38PM Report Comment

2. techieman said...

Ibby... but then the crossrail areas should become relatively more expensive .... and likely have been. Buy Maidenhead , sell westminster.

oh but its ok.. johnny foreigner is gonna buy Westminster right... except erm..

Of course the maidenhead / westminster spread may reduce exposure rather than eliminate it. Until 1/4 the jury is out. My view? Sell into strength, echos of the longs may last for a short time but then the emperor might get more than a bit chilly after that.

Thursday, February 25, 2016 04:35AM Report Comment

3. techieman said...

Anyway don't think too many oligarchs live in Darg-en-ham. Oh yes silly me thats essex... er innit though?

Thursday, February 25, 2016 04:37AM Report Comment

4. mombers said...

Clearly Londoners are not working hard enough?

Thursday, February 25, 2016 10:30AM Report Comment

5. libertas said...

Yes, that is why the average couple is buying studio and one bed flats. The vast majority of folk buying these 500k houses have a 200k deposit due to their one bed flat soaring to over 300k with them having paid down a large part of their mortgage over the proceeding 5yrs. Many are swapping their 1 bed flats for proper houses in the shires once kiddies start bouncing around, hence places like Luton soaring in value.

I am afraid that these folk simply do not understand the housing market. In a bull market, higher prices feed higher prices. Unless liquidity dries up or immigration patterns reverse, there will not be a crash. I still pen it to 2026.

Tuesday, March 1, 2016 09:44PM Report Comment

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