There was a time when buying a home in London felt within reach—even for the average worker. In 1986, the typical house price in the capital was £55,000, and as Peter Apps notes in his new book Homesick, it was common for people on modest incomes, such as builders and nurses, to become homeowners.
Today, in 2026, the average London home costs £660,975, and private rentals now make up 30.1% of properties—the highest proportion since 1971. It’s clear that times have changed dramatically, painting a bleak picture for lifelong Londoners who simply want a place to call their own.
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Exclusive data from Zoopla reveals just how much you need to earn to buy a house in each London borough—and the situation is as dire as you might imagine. Topping the list is Kensington and Chelsea, where a gross annual salary of £199,300 is required to afford the average house price of £1,120,900—a figure far beyond the means of most Londoners.
This towers over the UK average salary of £37,430 (according to the Office for National Statistics), marking a staggering difference of £161,870. The situation is scarcely better in Westminster, which comes second with a required salary of £166,600 for an average house priced at £936,900.
These calculations assume a 20% deposit and a mortgage loan set at 4.5 times household earnings—the income multiple typically used by lenders. The earnings can be joint or individual, meaning a solo buyer would need to meet the full amount alone, while couples or friends could combine incomes to reach the required figure.
But what about the most affordable borough?
Barking and Dagenham requires the lowest combined earnings in London: £59,600 for an average house price of £335,500. For first-time buyers in the area, this could be seen as positive news—especially since the required income was slightly higher (£63,620) as recently as February, despite a lower average house price at the time. However, falling prices are less welcome for those looking to sell or make a future profit.
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It’s worth noting that the salary needed in Barking and Dagenham aligns relatively closely with the national average—provided you’re buying with another earner, each making around £37,430. For single buyers, the path remains much tougher, not to mention the challenge of saving for a deposit, which can take years without support from generational wealth.
For those seeking semi-affordable options within London, Croydon also stands out. The average house price here is £393,300, requiring earnings of £69,900 and a 20% deposit of £78,700. Though once dubbed the capital’s “most depressing area” (and 12th nationally), Croydon has its appeal—from being the hometown of Stormzy to boasting a massive IKEA, a network of green trams, and a popular Boxpark.
Here’s the full list of required salaries and average house prices by borough:
- Kensington and Chelsea: £199,300 (avg 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)
Source: Zoopla
