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London house prices reach equivalent of 10 times the average salary

house for sale in Croydon

According to the latest research (London Housing Commission), the price of an average London home is now 10 times the average salary of an individual.

This new data emphasises the sheer magnitude of the housing crisis that the UK is currently experiencing. Rents are rising, not enough houses are being built, and demand is increasing day by day. These trends in the market are therefore having a huge impact on the quality of people’s lives when trying to live in the City.

Shockingly, house prices in London are now 44% higher than they were in 2008, prior to the financial crash.

Predictions for 2016 suggest that rents will continue to dwarf average incomes, increasing by 16% over the last 5 years.

It is also no secret that home-ownership has fallen, prompting the government to assess what needs to be done to resolve such pressing issues.

At Inspired, we work tirelessly and closely with the most important people to ensure that you can actually own your own home in London.

We provide affordable luxury via high tech and high spec apartments based in Croydon, Epsom, Sutton and Crawley. We offer stunnning studios, one and two bedroom apartments, each ingeniously designed around open plan interiors, the latest efficiencies in heating, the UK’s fastest hyperoptic broadband, hardwood flooring and granite worktops.

To find out more, contact our team on 020 8688 6552.

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