A HOUSEHOLD income of more than £61,000 is needed in order to buy an averaged-priced house in Waltham Forest, according to a survey published today.
The National Housing Federation (NHF), which represents housing associations, commissioned the survey as part of its call for more affordable housing.
The average house price in the borough for 2008 is £239,500, and the average household income is £24,331.
The NHF therefore calculates that a salary of £61, 586 is needed for a 90 per cent mortgage, the third lowest total in London, behind only Barking & Dagenham and Bexley.
The average gross income needed to buy a house in London was £92,294, dwarfing the average for England as a whole, which was £56,651.
The survey calculates that an income of £72,478 is needed to buy a house in neighbouring Redbridge, £82,060 in Hackney while the figure for Newham is comaprable to Waltham Forest at £62,319.
The average for London as a whole is £93,294, a figure described as “astronomical” by NHF London region head Belinda Porich.
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