UK Property Market

London’s Brent is UK’s most unaffordable place to buy

Recent research from Woolwich Mortgages analysed the ratio between household income and mortgage payments in different locations all over the UK. The study revealed that all top five least affordable property areas for first-time buyers are found in London. The continuous rise in UK Home prices over the last years has led to mortgage buyers paying up to 152 per cent more than five years ago.

In three London Locations first-time buyers give up almost half of their income to pay their mortgage – 48 per cent in Brent, 46.7 per cent in Ealing, and 45 per cent in Haringey. The most expensive place to buy outside London Is Brighton, where first-time buyers are paying well over 40 per cent of their household income on mortgage.

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