First-time buyers need £100k salaries

20th November 2015

A study by the House of Commons library shows that some of the first-time buyers hoping to buy one of the government's new starter homes in London will have to earn £100,000 and offer a deposit of £96,000. Eleven boroughs including Camden, Hackney, and Southwark will require a six-figure salary, with average prices reaching caps on values within a decade. Across the country, buyers will need an average deposit of £47,000 and an income of £55,000.

The Times (19/11/2015)