PROSPECTIVE homeowners require a salary of almost £100,000 to buy the average priced home in London, a survey by the National Housing Federation finds.
Even if buyers opt for one of the cheapest 25 per cent of properties, they would still need to earn more than £50,000, almost double the average income in the capital.
Belinda Porich, head of the Federation’s London region, said: “The report shows that buying a house is not a realistic prospect for the vast majority of Londoners.”
She added: “This is especially bad news for London’s ordinary hardworking families. Many of them are already fearful of having to leave their homes next year due to the government’s planned housing benefit caps and cuts.”