Is Newham the last remaining London area with affordable property?

A landlord came in to our office earlier this week to discuss the affordability of property in Newham. The best advice I can give to those looking to invest in property is our secret trick of the trade. You can judge the affordability of a district is by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.
When we put this to the test, we found that Plaistow, E13 currently has an average property value of around £345,700 with the average salary being £24,526. This is a respectable ratio of 1 to 14.10. Meanwhile in East London the average ratio of property values to salary is 1 to 19.02, which suggests the properties in Plaistow are on average 34% more affordable than the average East London Property.
This could mean that now is a brilliant time to invest in Plaistow’s property market, while the average value of property is low compared to the average salary. If you would like to talk to us about your potential investment, please come into our offices.
Do you have a property question or need some advice? Email me.
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