Wednesday, January 20News For London

Tag: property guardian

‘Affordable housing’ another empty Conservative promise…

‘Affordable housing’ another empty Conservative promise…

Data Journalism, Politics, Video
London’s housing crisis continues to escalate. The reality is with inflated house prices and soaring rents young Londoners are being driven out of the capital. With a new wave of 'generation rent' and controversial social housing issues, more and more Londoners have taken to the streets to express their growing discontent against the government's new Housing Bill. 'Affordable housing' appears a misnomer as new official figures reported that nearly 20 per cent of first time buyers paid record £500,000-plus for the privilege of purchasing a London home. According to KPMG research, first time buyers in London ‘need to earn at least £77,000’ to get on to the London property ladder that is nearly double the UK average salary. Payscale.com highlight the average London salary is £27K-£45K