Saving up seven decades

17th February 2017

Single buyers earning an average London wage will spend anything from five to 68 years saving for a deposit, according to a new report. It compares average house prices and wages for every London borough, and found that in Kensington & Chelsea, it would take 68 years to save for a deposit, as wages average £38,000 and homes sell for an average of £1.3m. Barking and Dagenham comes in at London's most affordable borough, where prices average £289,000 and the typical wage is £28,000.

Evening Standard (14/02/2017)