The Real Price of a London Apartment Has Sunk 22% in the Last Decade
London’s property price premium over English homes as a whole has shrunk to its lowest in 14 years, according to data by Hamptons.
Photographer: Chris Ratcliffe/BloombergFor years, Britain’s young professionals have faced a dilemma: the best job opportunities are in a city that has some of the world’s most exorbitant house prices.
At the peak in 2017, the cost of an apartment in London was more than 12 times the median annual employee earnings, even though workers in the capital get a substantial pay premium compared with the rest of the UK. Scraping together a deposit required a very well-paid job, family wealth or both.