Housing affordability - London

FHBs are having a tough time in London too:

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Sorry. It was linked via my FB.

Here is an extracts:

Yet how expensive is too expensive? Here at the FT, we have mapped the UK capital to show how affordable London boroughs are for first-time buyers. For a person in their twenties who earns the median income, the prospect of affording a place of their own is daunting. In parts of the capital, homes for first-time buyers might be 20, 30 or even more than 40 times their salary.



( for full article google the title ... "london housing has become too hot for young buyers" )

 

The average price in London is about 800k AUD for apartments or $1.1 million for a semi/terrace house. The overall average is $1 million AUD

 

Actually you can still buy a flat for under 600k...in some less desirable areas ...it will take you about 30 min to get to the key city stations..

 

Yep, that's just the average. In Sydney it's 700k for units so it makes London look like good value