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 (2069 views) Add Comment

5 Comments

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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