The earnings a first time buyers need to to get on the property ladder in a UK city has increased by £8,000 over the last three years.
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Category Archives: London House Prices
Average house prices in London fall -3.1% in August as sellers try to secure quick sales dragging down the UK property market.
The price per square metre for London properties stalls and is the lowest in Great Britain stalling for the first time in eight years.
Regional cities have higher house price growth and narrowing the gap with London as the capital struggles to make progress.
Growth in house prices fell to its slowest pace with ongoing pressure on household budgets and subdued economic growth.
UK house prices in the country remains steady with the largest annual price growth recorded in Scotland rising 6.7% for the year.
It cost double to purchase your home if you are a first time buyer in London compared to anywhere else in the country.
The average price for a flat has increased by £75,074 in just five years and rising faster than any other property type in the country.
Over the past decade the number of homes sold for more than a million pounds has increased by 73% even with depressed market demand.
Homeowners desperate to sell their property are marking down the price by an average £24,947 from the original asking price.