Dec 08

Which London boroughs saw house prices rise by more than David Cameron’s salary?

Westminster and Kensington & Chelsea, the boroughs of the rich and famous, saw house prices rise by more than Prime Minister David Cameron’s £142,000 annual salary.

Twenty of London’s 33 boroughs saw average house prices rise by more than £35,316 between April 2013 and April 2014, according to figures from the National Housing Federation.

The figures showed that 17 London boroughs saw a rise in house prices that was more than the average salary of a police officer (£45,653) and a paramedic (£40,922).

House prices in Camden, Wandsworth, Hackney and seven other areas grew by £70,840 – that’s the average salary of a London solicitor.

David Orr, chief executive of the National Housing Federation, said: “It’s no secret that house prices are way beyond the reach of pay packets of hard-working Londoners, but these figures show just how absurd and unfair the housing crisis has become.

“The housing market is clearly broken when house prices are rising by amounts larger than the entire salary of a nurse, teacher or firefighter. What chance have our core workers got of ever owning a home in London?

“This isn’t a matter of choice in where you live. We need nurses, teachers, firefighters and plumbers in every city. Therefore we need to build homes that they can afford,” he said.