You Need Record Income to Afford an Existing London Home

The average home in London now sells for 498,000 pounds after gaining 11.2 percent in the 12 months through March, the data shows, as a shortage of dwellings drives values higher.

Photographer: Simon Dawson/Bloomberg

The average buyer of a existing home in London in the first quarter earned a record 92,000 pounds ($143,000) a year as values neared their previous peak.

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