Londoner would need to earn nearly £90k to get on housing ladder

A Londoner could need to earn as much as £87,000 – triple the current average salary in the capital – to buy a property in London, according to a new report by the National Housing Federation. 

Home Truths London shows that the average property costs £408,384 and the average income is £27,128.

A salary of £87,511 would be needed to obtain a 75% mortgage, while the borrower would also need to provide a deposit of over £100,000.

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