How can people afford to buy London houses when they're so expensive?

The average home price in London is £482,800 while the average annual wage is £33,720. This means that the average house price in London is now 14 times the average income, the highest it's ever been, accordingly ITV News.

So this basically means that if your an average or even above average earner, you will still struggle to live in London. You'd have to bring up your kids in A cramped flat instead of a nice terraced Edwardian house in somewhere like Wandsworth.

I need to start saving up now for my deposit!

The average home price in London is £482,800 while the average annual wage is £33,720. This means that the average house price in London is now 14 times the average income, the highest it's ever been, accordingly ITV News.

So this basically means that if your an average or even above average earner, you will still struggle to live in London. You'd have to bring up your kids in A cramped flat instead of a nice terraced Edwardian house in somewhere like Wandsworth.

I need to start saving up now for my deposit!

High unaffordable house prices in places like London are the failings of the capitalist system. In the 1970s you could buy a 3 bedroom house in London for less than £25k, Or as little as £12k in the East End.

Then the Tories refused to build anymore council houses, that then put a lot of rental housing in to the private sector. Greedy and idle landlords bought up huge numbers of houses and flats greatly reducing supply to those who wanted a home of their own, prices rose dramatically.

People left with no choice but to rent are held to extortion by landlords charging what they like.

Not helped either by council tower blocks built in the 1960s being given over to real estate, and idle buy to invest property tycoons leaving their apartments empty while they gain in value.

Meanwhile as prices rise the Tory capitalist government had put in a housing benefits cap and HB can no longer stretch to pay for rent in London, as a result the poor are being forced to leave the city and live elsewhere hundreds of miles from friends and family where they were born. Bit like the woman on 'I Daniel Blake'

That's how the Nasty party treats normal people. Social cleansing.

Vote Jeremy Corbyn!

We need Corbyn to win the election and bring fairness back to society for everyone not just the idle rich..

I know you socialists are incontinent when it comes to money, but it doesn't actually grow on trees.

I think you meant to say incompetent, but honestly, I prefer your version.

No, I meant incontinent - they just splurge it out everywhere.

Fact is if you don't have wealthy parents who can chuck you a couple of hundred thousand, or already own property in London, or are going to inherit it, then most people on average to good wages simply can't afford to buy in most of London. It's utterly crazy. I can't believe that it will continue like this, but for the moment that's how it is. The Help to Buy equity loan doesn't help either - an overpriced house is an overpriced house, no matter who you're borrowing the money from.

Blame wealthy foreign cash buyers, and blame London itself for being the success it is.

Yeah, but the rest of the analogy doesn't flow as poetically as it could if you'd kept up the pissing theme.

This is why we need a labour government. Corbyn would remove the benefits cap so that HB can cover all rents. We need a mansion tax so the idle rich pay their way more. We need to stop council tower blocks in London being given over to real estate, and we need more council house building. I mean how would the rich like it if we built social housing in the middle of Mayfair? Well we don't like social cleansing either.

London is facing a housing crisis. We need a general election to put labour and momentum in power!
6 years of the Tories is too long we need change now! Corbyn will bring that change!

I think you put only need to put £10,000 deposit into a mortgage to start with then after you start earning a salary, you put a certain amount as agreed.

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I feel like you meant to say incompetent, but honestly, I prefer your version.

socialists are incontient with money they can;t control the flow, when it stops ot starts and their management leaves a nasty smell and puddles ...

High unaffordable house prices in places like London are the failings of the capitalist system. In the 1970s you could buy a 3 bedroom house in London for less than £25k, Or as little as £12k in the East End.

Then the Tories refused to build anymore council houses, that then put a lot of rental housing in to the private sector. Greedy and idle landlords bought up huge numbers of houses and flats greatly reducing supply to those who wanted a home of their own, prices rose dramatically.

People left with no choice but to rent are held to extortion by landlords charging what they like.

Not helped either by council tower blocks built in the 1960s being given over to real estate, and idle buy to invest property tycoons leaving their apartments empty while they gain in value.

Meanwhile as prices rise the Tory capitalist government had put in a housing benefits cap and HB can no longer stretch to pay for rent in London, as a result the poor are being forced to leave the city and live elsewhere hundreds of miles from friends and family where they were born. Bit like the woman on 'I Daniel Blake'

That's how the Nasty party treats normal people. Social cleansing.

Vote Jeremy Corbyn!

We need Corbyn to win the election and bring fairness back to society for everyone not just the idle rich..