Average London property price to hit £500,000

Sarah Coles
London flats
London flats

Anyone looking for somewhere to live in London would be forgiven for thinking that things are as bad as they can get. The average home in the capital costs a staggering £383,000, so unless you have an enormous deposit or a spectacularly well-paying job, the prospect of home ownership is a distant dream.

And the bad news is that things are set to get far, far worse. A leading think tank has said that the average property price will hit £500,000 by the end of the decade. But why, and is there any solution for wannabe-buyers?%VIRTUAL-SkimlinksPromo%