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Turns Out Millennials Are Right to Complain About London Home Prices

  • Two thirds of 25 to 34-year-olds can’t afford to buy a house
  • Property prices rising faster than salaries led to situation
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Turns Out Millennials Are Right to Question London's Property Prices

Even the cheapest London homes are beyond reach for most young adults.

Two thirds of 25 to 34-year-olds can’t afford to buy a property in the U.K. capital, even with a 10 percent deposit and a maximum mortgage of 4 1/2 times their salaries, the Institute for Fiscal Studies said in a report Monday. Just two decades back, the proportion unable to get onto the housing ladder was just one in 10.