Only 0.3% of properties for sale in London are affordable for the average working family to buy, according to research.
That’s 86 homes in the whole of London.
Shelter, which crunched the numbers, said 99.7% of homes in London were off limits to a family that could scrape together an 18% deposit – the average for a first time buyer.
The figure rises to 99.9% for buyers who could only afford a 5% deposit.
“The results paint an alarming picture of the capital’s affordability crisis,” Shelter said, adding that the government’s Help to Buy scheme was unlikely to help first time buyers.
In all boroughs except Bexley, fewer than 10 affordable homes were on the market.
In 10 boroughs covering for almost a third of London, including Camden, Sutton and Waltham Forest, there were no affordable homes for sale at all.
Here’s the full table:
Tweet me your thoughts @robynvinter
Leave a Comment