It is no wonder that buying a house is such a problem in Ealing, when the average earnings of people in the borough (£30,0000) are less than 70% of London's other local authorities.
New House of Commons Library analysis reveals the true impact of London’s Housing Crisis on first-time buyers.
Fresh research reveals that the average first time buyer in Ealing, saving 7% of their income, would have to wait 16 years (8 years for a couple) until they could save a typical 10% deposit without parental help - that's longer than 60% of London's local authorities.
Tessa Jowell said:
“This is the hard truth about how London’s housing crisis denies the dream of owning your own home to young Londoners.
“We need to build a city where everyone has the chance to live in a decent home and first time buyers aren’t excluded from the housing market - unless they have access to the bank of mum and dad."
"These figures reveal the failure of this Tory-led Government to address London's housing crisis. We need a Labour Government in order to help deliver real opportunities for first time buyers to get on the housing ladder."