Posted on Nov 18, 2019
Simon Watson , Realtor, Walnut Creek
What You Need To Earn To Buy A House In London
Nov 18, 2019 – Apr 23, 2020
Who’s ready for a novel, yet still depressing, way of looking at London property prices? All of you? Good! TotallyMoney have released an updated version of the Tube map, which reveals how much you’d need to earn to afford a one-bedroom flat at each stop. The results are, predictably, less than rosy.The study took the median price of one-bed properties within one kilometre of each station, and assumed a deposit based on 10% of your earnings. The bad news is, if you’re making £20,000 or less a year (#millenniallife), you have only three options. Joint cheapest are a couple of spots out along the Central Line, with Redbridge and Newbury Park requiring a median salary of £17,400 to afford a one-bedroom pad. Option 3 is up on the Piccadilly Line, as Oakwood comes in at £17,600. Rounding out the top five are Upney on the District Line (£22,300 average) and Croxley, tucked up in Zone 7 on the Metropolitan, for which you’ll need £25,500 on average.