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Less Than One In Ten Able To Buy

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Less than one-in-ten Londoners able to buy

By Laurie Osborne, Editor

Published 27th Mar 2006, (a Monday) at 09:00AM

Buying an average-priced property in London now requires an income of nearly £82,000, a sum earned by fewer than one in 10 Londoners, report the London Housing Federation.

Responding to recent figures from Rightmove.co.uk which showthe average house price in London broke the £300,000 barrier for the first time this month, the Federation expressed serious concerns about the impact of high house prices on a huge swathe of Londoners.

London’s average house price - £300,790 – now stands at 11.5 times average individual earnings, which are £26,000. Assuming that a couple both earned this amount, the largest mortgage they could reasonably afford would be £182,000.

London’s average house price - £300,790 – now stands at 11.5 times average individual earnings, which are £26,000. Assuming that a couple both earned this amount, the largest mortgage they could reasonably afford would be £182,000.
Berwyn Kinsey, head of the London Housing Federation, said: "Some Londoners will applaud the news that house prices have broken the £300,000 barrier, but for many more this is evidence that the housing nightmare is getting worse.

©In2perspective Limited

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Yeah, but there's loads of couples on 40K. If they give up on any foolish ideas of having children, going on holiday, and generally having a life, then they can easily get on the ladder.

Young people expect so much these days. When I was young I worked 12 hours a day digging holes with my bare hands, before selling my nubile young body on the streets for 9 hours a night, for 15 years (!) before I was able to build up a deposit to buy my first bedsit in Dagenham. But by god it was worth it...

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The Standard Lite had a brief article today about 18-40 year olds having it harder than their parents (see thread). Is the media starting to accept that things really are not as rosey as many (often homeowners) believe?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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