London house prices grow at twice the UK average

[Martin@AS Financial]

"In the first quarter the capital’s average house price reached £362,699, an 18.2 per cent increase on the first quarter of 2013, when the average price was £306,919."

Bearing in mind that buyers will need to put down between 5-10% as a deposit and that banks lend around 5 x income, buyers are going to need to earn at least £65,000 to purchase in the capital.



(Taken from Mortgage Strategy)

London house prices grow at twice the UK average | News | Mortgage Strategy

[Old Greg]

"In the first quarter the capital’s average house price reached £362,699, an 18.2 per cent increase on the first quarter of 2013, when the average price was £306,919."

Bearing in mind that buyers will need to put down between 5-10% as a deposit and that banks lend around 5 x income, buyers are going to need to earn at least £65,000 to purchase in the capital.



(Taken from Mortgage Strategy)

London house prices grow at twice the UK average | News | Mortgage Strategy

Isn't that what they need to earn to purchase an average property rather than just "to purchase"?

[Martin@AS Financial]

Isn't that what they need to earn to purchase an average property rather than just "to purchase"?

Scary isnt it. It's only a matter of time before being able to buy in London under the stamp duty mark of £250,000 is soon to be a thing of the past.

[ZARDOZ]

Russian Oligarchs laundering the proceeds of their crimes.

Russians pour money into London property - Telegraph

[AtW]

Russian Oligarchs laundering the proceeds of their crimes.

Russians pour money into London property - Telegraph

Them fooking dirty Ruskies...

[Peoplesoft bloke]

That's what you get if want to buy a house in a tuliphole.

[AtW]

That's what you get if want to buy a house in a tuliphole.

London residents don't want to live in London, they simply HAVE TO ...

[Martin@AS Financial]

London residents don't want to live in London, they simply HAVE TO ...

I don't know. It takes me an hour to get to Holborn from where I live in Ealing every day. My brother used commute from Brighton to Farringdon and it really didnt take that much longer.

The cost of travel is obviously more expensive than a 1-3 oyster card but is offset by his smaller mortgage.