6 Figure Salary To Buy First Home
8 November 2010, 09:19
A first time buyer in London now needs to earn almost a hundred thousand pound salary to afford the price of an average home.
Even people trying to buy one of the cheapest 25 percent of properties would still need a salary of 50 thousand according to the National Housing Federation.
That's double the average income for someone working in London.
Research has found the average property here is now 363,000 pounds.
There are only eight boroughs in our city where the average property costs less than 250,000 pounds.