First-Time Buyers Need Four Times Salary to Buy in Cheapest Borough

Evening Standard - London › March 17, 2004

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Summary

THE full crisis faced by first-time house buyers is shown in new research today.

Figures from the Halifax show that even in London's cheapest borough - Barking and Dagenham - the average first-time buyer would have to borrow almost four times their salary to secure a home.

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Extract

First-Time Buyers Need Four Times Salary to Buy in Cheapest Borough

In the most expensive area - Kensington and Chelsea - a buyer would have to borrow more than 10 times their salary, putting them at serious risk of ...

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