United Kingdom · Europe · Population: 9,000,000
London is a challenging market for first-time buyers, with steady growth in property values. The city has one of the most expensive rental markets. At $680,000 average home price in United Kingdom, buyers should consider the 12.5x price-to-income ratio when planning a purchase.
| Average Home Price | $680,000 |
| Price per sqm | $15,000 |
| Price-to-Income Ratio | 12.5x |
| Mortgage Rate | 4.5% |
| 1-Year Price Change | +1.2% |
| 1-Bedroom Apartment | $2,800/mo |
| 3-Bedroom Apartment | $4,500/mo |
| Rent-to-Income Ratio | 45% |
| Median Household Income | $54,000/year |
| Years to Buy (at median income) | 12.5 years |
| Local Currency | GBP |
With a price-to-income ratio of 12.5x, London is one of the most expensive cities for homebuyers. Consider renting or exploring nearby cities for better value. Home prices have increased 1.2% in the past year.
Cities worldwide with home prices closest to London
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
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