Gone are the days when buying a home in London felt within reach for the average worker. A stark new analysis for 2026 reveals the formidable salaries now required to get a foot on the property ladder in each of the capital's boroughs, painting a challenging picture for aspiring homeowners.
The Dramatic Shift in London's Property Landscape
In 1986, the typical London house price stood at a modest £55,000, a time when professions like builders and nurses could realistically aim for homeownership. Fast forward four decades, and the landscape has transformed beyond recognition. By 2026, the average property price in the capital has soared to £660,975, with private rentals now making up 30.1% of homes—the highest proportion since 1971.
This seismic shift has fundamentally altered the dream of owning a home for countless Londoners. Exclusive data provided by Zoopla, analysed for this report, lays bare the exact household income needed to purchase a property in each area, based on a 20% deposit and a mortgage loan set at 4.5 times annual earnings.
London's Priciest and Most 'Affordable' Boroughs
Topping the list as the most expensive locale is the borough of Kensington and Chelsea. Here, prospective buyers face an average house price of £1,120,900, necessitating a gross annual salary of £199,300. This figure towers over the UK's average salary of £37,430, highlighting a gulf of £161,870.
Westminster follows as the second most costly, with a required income of £166,600 to afford a typical home priced at £936,900. The figures represent a formidable barrier, particularly for single buyers who must shoulder the entire financial burden alone.
At the other end of the spectrum, Barking and Dagenham emerges as the most accessible borough for buyers. The average local house price of £335,500 requires combined household earnings of £59,600. This marks a slight improvement from earlier in the year and brings it closer to the national average salary, assuming a purchase with a partner.
The Challenge for Singles and Deposit Savers
The data underscores a particularly difficult journey for single people, who must meet the full salary requirement independently. Beyond income, there remains the significant hurdle of accumulating a deposit, a task that can take years without assistance from family or inherited wealth.
Other relatively promising areas include Croydon, where the average house price is £393,300, demanding earnings of £69,900 and a deposit of £78,700. The borough, home to the renowned BRIT School and areas like Thornton Heath, offers more than its sometimes-unfair reputation suggests.
The full list of required salaries and corresponding average house prices for every London borough in 2026 is as follows:
- Kensington and Chelsea: £199,300 (average house price: £1,120,900)
- Westminster: £166,600 (£936,900)
- Camden: £135,900 (£764,600)
- Richmond upon Thames: £135,200 (£760,700)
- City of London: £130,800 (£735,700)
- Hammersmith and Fulham: £128,700 (£723,900)
- Islington: £117,100 (£658,700)
- Wandsworth: £116,900 (£657,700)
- Hackney: £105,900 (£595,700)
- Haringey: £101,800 (£572,600)
- Kingston upon Thames: £101,700 (£572,000)
- Barnet: £101,000 (£567,900)
- Merton: £100,300 (£564,400)
- Lambeth: £98,900 (£556,500)
- Bromley: £92,000 (£517,300)
- Southwark: £91,800 (£516,300)
- Brent: £91,700 (£516,000)
- Ealing: £91,600 (£515,500)
- Harrow: £90,800 (£510,600)
- Waltham Forest: £90,100 (£507,000)
- Redbridge: £84,500 (£475,300)
- Tower Hamlets: £84,200 (£473,600)
- Hounslow: £82,400 (£463,400)
- Hillingdon: £80,700 (£454,000)
- Lewisham: £80,100 (£450,600)
- Sutton: £79,200 (£445,200)
- Enfield: £78,300 (£440,300)
- Greenwich: £75,300 (£423,800)
- Havering: £75,200 (£422,700)
- Newham: £71,600 (£403,000)
- Bexley: £71,200 (£400,800)
- Croydon: £69,900 (£393,300)
- Barking and Dagenham: £59,600 (£335,500)
The figures, sourced from Zoopla, present a clear snapshot of the capital's housing affordability crisis. While falling prices in some areas may offer a glimmer of hope for first-time buyers, they present a concern for those looking to sell or build equity. For many lifelong Londoners, the goal of owning their own four walls remains a distant prospect.
