One thing we wish we could have left behind in 2025? London\u2019s extortionate house prices.\u00a0But, unfortunately, as we enter the new year buying a house in the capital remains a pipe dream to many.\u00a0So, here\u2019s\u00a0a bit of bleak news to kick start your 2026: how much you need to earn to afford a house in every London borough, including a full list at the end.\u00a0\u00a0<\/p>\n
New data from Zoopla \u2013 reported in Metro<\/a> \u2013\u00a0has revealed the average salary needed to afford the price of the average house in each borough in the capital.\u00a0The salaries were calculated assuming the buyer would\u00a0save a deposit that was 20 percent of the property value, plus a mortgage loan amounting to 4.5 times the buyer\u2019s household earnings.\u00a0<\/p>\n Not surprisingly, London\u2019s priciest borough for buying a house was Kensington and Chelsea, where the average house according to Zoopla costs an eye-watering \u00a31.12 million. To afford a 20 percent deposit and then to pay the mortgage you would need to be on a salary of \u00a3199,300 or higher.\u00a0<\/p>\n Westminster wasn\u2019t much cheaper, with the average house costing \u00a3936,900 and requiring a salary of at least \u00a3166,600. In Camden you\u2019d need to be able to cough up\u00a0\u00a3764,600 for your abode, meaning you would have to earn\u00a0\u00a3135,900.\u00a0<\/p>\n The cheapest borough was Barking and Dagenham, where\u00a0the average house cost a much more modest (compared to Chelsea, at least)\u00a0\u00a3335,500. In B&D you\u2019d need to be on a salary of\u00a0\u00a359,600, which is still much higher than the UK average salary of\u00a0\u00a337,430, according to the Office for National Statistics.<\/p>\n The average price of a house for all of London was\u00a0\u00a3559,161, meaning that the average London would need to earn \u00a399,406 to buy a house in the capital. Better start saving now.\u00a0<\/p>\n The average salary\u00a0needed to buy a house in every London borough in 2026<\/p>\n
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\n<\/ul>\n You can read\u00a0Metro\u2019s full study on the salaries needed to buy property in London boroughs here<\/a>.<\/p>\n Not buying? Here’s\u00a0how much it costs to rent in every London borough<\/a>.<\/strong><\/p>\n The London borough that is the most expensive place to rent in Britain<\/a>.\u00a0<\/strong><\/p>\n Get the latest and greatest from the Big Smoke \u2013 from news and reviews to events and trends. Just\u00a0follow our Time Out London WhatsApp channel<\/a>.<\/strong><\/p>\n
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