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Houses now cost up to 17 times the average salary in London

LONDON — The average London house price is now 12 times greater than that of the average London wage, and in some boroughs up to 17 times higher, according to data from the Land Registry and ONS.

The data, compiled by online estate agent eMoov, found that the average London house price is £474,704, which is 12.05 times the average house price of £39,400.

The east London borough of Hackney has the widest gap between wages and house prices of any area in the country. The average house price there is £575,511, which is 17.03 times greater than the average wage of £33,800.

Here is how the figures break down by London borough:

eMoov

Russell Quirk, chief executive of eMoov, said: “When London is thrown into the spotlight in terms of the unaffordability of its property market, many are quick to highlight that the wages on offer are higher in the capital.

“The gap between what hopeful London buyers are earning and what they are having to pay for a property is still way out of kilter and climbing,” he said.

House price growth in the capital has stalled this year after decades of runaway growth, with mortgage affordability, political uncertainty, and tax changes all weighing on buyer sentiment.

More from Thomas Colson:

• Britain’s most famous fund manager is bullish on Brexit and thinks ‘investors have become far too pessimistic about the UK economy’
• Britain’s builders are shaking off Brexit uncertainty and reporting booming demand
• Brexit uncertainty is one of the reasons why Britain’s housing market is grinding to a halt
• These are the City of London’s General Election priorities for Brexit, fintech, and job growth
• The 17 richest people in Europe

NOW WATCH: JAMIE DIMON: Trump’s economic agenda is the right agenda

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Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.

✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

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LONDON — The average London house price is now 12 times greater than that of the average London wage, and in some boroughs up to 17 times higher, according to data from the Land Registry and ONS.

The data, compiled by online estate agent eMoov, found that the average London house price is £474,704, which is 12.05 times the average house price of £39,400.

The east London borough of Hackney has the widest gap between wages and house prices of any area in the country. The average house price there is £575,511, which is 17.03 times greater than the average wage of £33,800.

Here is how the figures break down by London borough:

eMoov

Russell Quirk, chief executive of eMoov, said: “When London is thrown into the spotlight in terms of the unaffordability of its property market, many are quick to highlight that the wages on offer are higher in the capital.

“The gap between what hopeful London buyers are earning and what they are having to pay for a property is still way out of kilter and climbing,” he said.

House price growth in the capital has stalled this year after decades of runaway growth, with mortgage affordability, political uncertainty, and tax changes all weighing on buyer sentiment.

More from Thomas Colson:

• Britain’s most famous fund manager is bullish on Brexit and thinks ‘investors have become far too pessimistic about the UK economy’
• Britain’s builders are shaking off Brexit uncertainty and reporting booming demand
• Brexit uncertainty is one of the reasons why Britain’s housing market is grinding to a

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These are the City of London’s General Election priorities for Brexit, fintech, and job growth

The 17 richest people in Europe

NOW WATCH: JAMIE DIMON: Trump’s economic agenda is the right agenda

Please enable Javascript to watch this video

Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.

✍ Sumber Pautan : ☕ Business InsiderBusiness Insider

Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2qcxlwl

(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!

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