The Telegraph reports that London house prices are now 14.5 times the earnings of an average Londoner, according to Hometrack, hitting the highest level on record.
This is up from last year's high of 14 times average income,
despite house price growth having slumped in London over the last 12
months. This year's level is 42% higher than the long-term average
over the last 15 years.
The question is, how are people paying for these?
-Non resident investors