Londoners can't afford houses in their own borough

That house prices are extremely high in London is by now no secret. But recent figures from the National Housing Foundation show that the gulf between average earnings and average house prices in the British capital is perhaps even larger than some would have suspected.

Assuming the average Londoner would like to buy a house in the borough they currently reside in, the percentage increase in earnings required to get an 80 percent mortgage range from 105 percent in Bexley to a completely unattainable 653 percent in Kensington and Chelsea. Even for those who are realistic enough to have given up on the dream of owning a piece of prime real estate in Kensington, the average earning London resident (£32,838 p.a.) would need a pay increase of 266 percent to get a mortgage on the average abode - priced at £526,085.

This infographic featured recently on the i100.

Description

This chart shows the increase in earnings required for a mortgage on the average house price in London, by borough.

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Annual income required for an 80 percent mortgage in London in 2017/2018, by area (in GBP)
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Average house price and percentage change from the previous year in London (UK) in July 2026, by borough (in GBP)
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Average price of housing bought with a mortgage and percentage change from the previous year in London (UK) in July 2026, by borough (in GBP)
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Ratio of house prices to incomes across London, England, in 2022, by area
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Average flat price and percentage change from the previous year in London (UK) in July 2026, by borough (in GBP)
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Median house price to income ratio in London, United Kingdom (UK) from 2021 to 2022, by borough

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