Harrow homes cost 10.8 times average earnings
The borough ranks among London's less affordable areas for property buyers.
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The average home in Harrow costs £532,000, a figure that is 10.8 times the average local earnings. This calculation places Harrow among the less affordable boroughs in London for those looking to buy property. The data, compiled by MyLondon using figures from the Office for National Statistics, covers the 12 months to August.
Across the capital, house prices in Harrow have seen a decrease of 2.5% over the past year. The average earnings for full-time workers in the borough were recorded at £49,048. This ratio of 10.8 times earnings positions Harrow as the 14th least affordable borough within London.
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London affordability rankings
The analysis reveals significant disparities in affordability across London's boroughs. Bexley and Tower Hamlets are identified as the most affordable, with average house prices at 8.5 times average earnings. In contrast, Kensington and Chelsea presents the highest house-price-to-income ratio in London, standing at 20.6. Average homes in this borough cost £1,204,000, while average earnings are £58,502.
Other boroughs with high house-price-to-income ratios include Richmond upon Thames at 14.5, Camden at 13.8, and the City of Westminster at 13.4. These figures highlight the considerable financial commitment required to purchase property in these areas.
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UK affordability comparison
Nationally, Inverclyde in Scotland is the most affordable place to buy a home, with average prices at £115,000, which is 3.0 times the average local earnings. Burnley is noted as the most affordable place to buy in England, with average prices of £137,000, equating to 3.7 times local earnings.
Questions this report answers
+What is the average house price in Harrow?
The average house price in Harrow is £532,000. This figure was recorded in the 12 months to August and represents a 2.5% decrease compared to the previous year.
+How does Harrow's house price compare to average earnings?
In Harrow, the average house price of £532,000 is 10.8 times the average local earnings of £49,048. This ratio places Harrow as the 14th least affordable borough in London.
+Which London borough is the least affordable?
Kensington and Chelsea is the least affordable borough in London, with an average house price of £1,204,000. This is 20.6 times the average local earnings of £58,502.
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