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Evening Standard
Evening Standard
Business
Cat Olley

Solo buyers: the average salary, deposit and mortgage required for a first home in every London borough

London Borough Nicholas Mendes Kinleigh Folkard Hayward The Stow Brothers

Buying a first property with a partner, sibling or friend is no picnic — doing it solo is something different altogether.

Data compiled for Homes & Property by London agents Benham and Reeves shows that a single buyer currently needs to earn a salary of £75,556 to buy a £400,000 first home, assuming a 15 per cent deposit of £60,000 and a mortgage loan 4.5 times income.

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