It’s no secret that London is bloody expensive. In fact, our city is officially one of Europe’s least affordable places to live alone. And that’s just when you’re talking about renting. It’s arguably even worse when you consider buying, particularly when you look at the average salary needed to afford to buy a property in London.
Metro recently reported on the bleak state of London’s housing market, using information provided by Zoopla. They covered the average house prices for each London borough, as well as the average salary needed to afford a property – assuming a 20% deposit and “a mortgage loan amounting to 4.5 times the buyer’s household earnings”. And let’s just say it’s not great news for most of us…
The most expensive place to buy in London
Coming as no surprise to anyone, the most expensive place to buy property in London is Kensington and Chelsea. Here, the average house prices go well above a million, at £1,120,900. And to afford those properties, you’d need a salary of £199,300.
Compare that to the UK’s median salary, which was £39,039 in April of 2025, according to the Office for National Statistics. It’s quite a stark difference!
Wesminster came in 2nd on the list of most expensive boroughs in London to buy, with average house prices of £936,900. It’s almost a relief to be under the million-pound mark! But to afford these properties, you’d still need a salary of £166,600.
The least expensive place to buy in London
But what about London’s cheapest areas? Surely it’s better elsewhere? And yes, there are much cheaper areas to buy, but most people are still priced out. This is especially true if you’re looking to purchase your own home by yourself and not with a partner or a friend.
The cheapest borough in London is Barking and Dagenham. Here, you’d need to earn just £59,600, thanks to average house prices of £335,500. Following close behind as the 2nd most affordable place to buy property in London is Croydon. This should come as no surprise, given it was also recently named the cheapest place in London to rent. But it looks like we’ll still be renting for a while. Average house prices in Croydon are £393,300, requiring an annual income of £69,900.
Average salary needed to buy in London
Here’s how much you’d need to earn in each London borough, on average, to buy property:
- Kensington and Chelsea: £199,300
- Average house price: £1,120,900)
- Westminster: £166,600
- Average house price: £936,900
- Camden: £135,900
- Average house price: £764,600
- Richmond upon Thames: £135,200
- Average house price: £760,700
- City of London: £130,800
- Average house price: £735,700
- Hammersmith and Fulham: £128,700
- Average house price: £723,900
- Islington: £117,100
- Average house price: £658,700
- Wandsworth: £116,900
- Average house price: £657,700
- Hackney: £105,900
- Average house price: £595,700
- Haringey: £101,800
- Average house price: £572,600
- Kingston upon Thames: £101,700
- Average house price: £572,000
- Barnet: £101,000
- Average house price: £567,900
- Merton: £100,300
- Average house price: £564,400
- Lambeth: £98,900
- Average house price: £556,500
- Bromley: £92,000
- Average house price: £517,300
- Southwark: £91,800
- Average house price: £516,300
- Brent: £91,700
- Average house price: £516,000
- Ealing: £91,600
- Average house price: £515,500
- Harrow: £90,800
- Average house price: £510,600
- Waltham Forest: £90,100
- Average house price: £507,000
- Redbridge: £84,500
- Average house price: £475,300
- Tower Hamlets: £84,200
- Average house price: £473,600
- Hounslow: £82,400
- Average house price: £463,400
- Hillingdon: £80,700
- Average house price: £454,000
- Lewisham: £80,100
- Average house price: £450,600
- Sutton: £79,200
- Average house price: £445,200
- Enfield: £78,300
- Average house price: £440,300
- Greenwich: £75,300
- Average house price: £423,800
- Havering: £75,200
- Average house price: £422,700
- Newham: £71,600
- Average house price: £403,000
- Bexley: £71,200
- Average house price: £400,800
- Croydon: £69,900
- Average house price: £393,300
- Barking and Dagenham: £59,600
- Average house price: £335,500
It’s certainly not fun to look at these numbers and compare them to my own paltry (by comparison) salary. And let’s not even broach the subject of savings and the initial upfront deposit required. The reality is that I might never be able to buy a house, or even just a flat, in this city.