{"id":328,"date":"2015-10-13T12:00:12","date_gmt":"2015-10-13T12:00:12","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/london-now-less-affordable-than-2007-for-home-buyers\/"},"modified":"2018-10-05T10:51:33","modified_gmt":"2018-10-05T10:51:33","slug":"london-now-less-affordable-than-2007-for-home-buyers","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/london-now-less-affordable-than-2007-for-home-buyers\/","title":{"rendered":"London Now &#8216;Less Affordable&#8217; Than 2007 for Home-Buyers"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<div>A report published by Estate Agency, Hamptons International, has found that buying a <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >home<\/a> in <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/london\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/london;http:\/\/sws.geonames.org\/2643743\/;http:\/\/rdf.freebase.com\/ns\/m.04jpl;http:\/\/yago-knowledge.org\/resource\/London;http:\/\/dbpedia.org\/resource\/London\" >London<\/a> is now less \u2018<a class=\"wl-entity-page-link\" title=\"Affordable housing\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/affordable-housing\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/affordable_housing;http:\/\/rdf.freebase.com\/ns\/m.09jvc1;http:\/\/dbpedia.org\/resource\/Affordable_housing\" >affordable<\/a>\u2019 than it was at the beginning of the economic downturn in 2007. The <a class=\"wl-entity-page-link\" title=\"Estate (law)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/estate-law\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/estate_law;http:\/\/rdf.freebase.com\/ns\/m.038t85;http:\/\/dbpedia.org\/resource\/Estate_(law)\" >estate<\/a> agent\u2019s \u2018affordability index\u2019 showed that the capital is now a real struggle for buyers, especially when compared with the relatively rosy picture elsewhere in the country.<\/div>\n<div>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">The report looked at the combination of pressures from cost of living and rising house prices to produce the \u2018affordability\u2019 measure and discovered that \u2013 based on buyers having a 15% deposit \u2013the affordability of buying a home has improved everywhere but London. \u00a0These findings seem to confirm again the disparity between the London <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> <a class=\"wl-entity-page-link\" title=\"Market (economics)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/market-economics\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/market_economics;http:\/\/dbpedia.org\/resource\/Market_(economics)\" >market<\/a> and the rest of the country.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">Current low <a href=\"https:\/\/www.thehouseshop.com\/mortgages\" title=\"mortgage rates\">mortgage rates<\/a> have eased the pressure on buyers; however the report also discovered that the amount of disposable income left each month after paying the mortgage and essentials (utility bills, food, childcare etc.) is significantly less than at the start of the economic downturn. A household with 2 full-time workers and children had an average of 66% of their income left after mortgage payments and essentials, whereas a household with 1 full time and 1 part time worker could expect to have 42% of their income leftover. First time buyers were the group to have the largest chunk of their income eaten up \u2013 with just 38% left after mortgage payments and essentials. <\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">So with less money left in our pockets at the end of each month, is there any good news for prospective buyers in London? Hopefully, yes. House prices are finally beginning to stabilise and the market is cooling down, therefore the poor \u2018affordability\u2019 ranking in the capital should begin to improve. However, the impact of the impending interest <a class=\"wl-entity-page-link\" title=\"Rates (tax)\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/rates-tax\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/rates_tax;http:\/\/rdf.freebase.com\/ns\/m.03hnzm;http:\/\/yago-knowledge.org\/resource\/Rates_(tax);http:\/\/dbpedia.org\/resource\/Rates_(tax)\" >rates<\/a> rise could offset some of this <a class=\"wl-entity-page-link\" title=\"Land improvement\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/land-improvement\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/land_improvement;http:\/\/rdf.freebase.com\/ns\/m.0gjvr_;http:\/\/dbpedia.org\/resource\/Land_improvement\" >improvement<\/a>, so the road ahead is far from smooth.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">On the upside, Fionnuala Earley from Hamptons International has said that \u201cFor most parts of the country it would take a significant rise in mortgage rates for the ability to buy to deteriorate to 2007 levels\u201d. So perhaps buyers will start considering a longer commute and looking outside of London for truly affordable homes.<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">\u00a0<\/span><\/p>\n<p class=\"MsoNormal\"><span style=\"font-size: medium;\">Franki Chaffin-Edwards<\/span><\/p>\n<\/div>\n[vc_row][vc_column][vc_separator][vc_column_text]\n<h2>Find Properties for Sale in London and the Surrounding Area:<\/h2>\n[\/vc_column_text][vc_row_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]\n<ul>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/barnet\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Barnet<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/bexley\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Bexley<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/brent\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Brent<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/bromley\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Bromley<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/camden\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Camden<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/chelsea\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Chelsea<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/croydon\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Croydon<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/ealing\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Ealing<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/enfield\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Enfield<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/fulham\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Fulham<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/greenwich\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Greenwich<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hackney\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hackney<\/strong><\/span><\/a><\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hammersmith\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hammersmith<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/haringey\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span>\u00a0<span style=\"color: #f58350;\"><strong>Haringey<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/harrow\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Harrow<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/havering\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Havering<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hillingdon\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hillingdon<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/hounslow\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Hounslow<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/islington\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Islington<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/kensington\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Kensington<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/kingston\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Kingston<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/lambeth\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Lambeth<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/lewisham\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Lewisham<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/london\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>London<\/strong><\/span><\/a><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column_inner][vc_column_inner width=&#8221;1\/3&#8243;][vc_column_text]\n<ul>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/merton\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Merton<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/newham\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Newham<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/redbridge\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Redbridge<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/richmond\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Richmond<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/southwark\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Southwark<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/sutton\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Sutton<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/tower-hamlets\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Tower Hamlets<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/waltham-forest\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Waltham Forest<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/wandsworth\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Wandsworth<\/strong><\/span><\/a><\/li>\n<li><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\/greater-london\/westminster\"><span style=\"color: #1e3b5d;\">Property for Sale<\/span> <span style=\"color: #f58350;\"><strong>Westminster<\/strong><\/span><\/a><\/li>\n<\/ul>\n[\/vc_column_text][\/vc_column]\n","protected":false},"excerpt":{"rendered":"<p>A report published by Estate Agency, Hamptons International, has found that buying a home in London is now less \u2018affordable\u2019 than it was at the beginning of the economic downturn in 2007. The estate agent\u2019s \u2018affordability index\u2019 showed that the<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/london-now-less-affordable-than-2007-for-home-buyers\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":3584,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[15,17],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2014\/10\/london.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/london_now_less_affordable_than_2007_for_home-buyers","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/328"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=328"}],"version-history":[{"count":5,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/328\/revisions"}],"predecessor-version":[{"id":18239,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/328\/revisions\/18239"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/3584"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=328"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}