A typical house in London now costs almost ten times the average local income, as soaring property prices reduce affordability to the lowest level on record.
It comes as the latest figures from the Nationwide Building Society show house price growth in the capital has slowed from 7.4% to 6%.
But with hybrid working and the Covid-era space race still driving many people’s ownership decisions, is it still possible to get a good deal inside the zones?
Research from Savills estate agents shows that a typical flat in zone 4 costs upwards of £610,000, but in zone 2 an equivalent house costs around £364,000.
In New Cross, also in Zone 2, one of the best deals is a flat for around £324,000, and Peckham would be the best value for a terraced house at around £590,000.
But go a little further afield in Zone 3 and East Ham for a flat around £238,000, while in Zone 4 Ilford more savvy buyers can find a flat for around £177,000 and a house terraced Thamesmead for around £337,000.
We find out more about the new factors driving house price growth, whether it’s sustainable, and why the Elizabeth line could be a game-changer for house prices.
There is also an analysis of the latest plans to try and tackle the London cladding scandal affecting flats and why the rental market is once again hot with sealed deals after pandemic restrictions were lifted.
To examine the latest data, The Leader joined Evening Standard editor Jonathan Prynn and Homes & Property editor Prudence Ivey.
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