[Will.]

Nearly a quarter of all homes in London are set to exceed £1m in value by 2030, making the capital so unaffordable that inheritance will provide the only way to ownership.

A little more than 300,000 homes in the capital were worth more than £1m in 2015, but research from the London School of Economics and Santander predicts this figure will more than treble by the end of the next decade.

http://www.ft.com/cms/s/0/561a2c28-d...#axzz40Y5Clkuk

[Kizzy]

Wow, that's crazy money :/

[Crimson Dynamo]

surely by 2030 £1million wont be worth that much?

[Will.]

Originally Posted by LeatherTrumpet

surely by 2030 £1million wont be worth that much?

That's what there hoping, all depends how much wages increase by 2030.

[Will.]

The median UK wage was 20K in 1999.

And in 2014 it was 29K.

Couldn't find the figures specifically for London but most people have normal jobs so there's probs very little difference.

So it's not a big increase considering the average London house price was 150K in 1999 and in 2014 it was 500K.

[Alf]

World war III will be on by then.

[Cherie]

Plots early retirement... and diamond shopping

[Kizzy]

Originally Posted by LeatherTrumpet

surely by 2030 £1million wont be worth that much?

I'm guessing it will be worth about £1 million

[smudgie]

Thank heavens we live on the right side of the North/South divide.

[Cherie]

Originally Posted by Kizzy

I'm guessing it will be worth about £1 million

Oh

[waterhog]

this is all adding to the rich poor divide and as they are cutting so much ie social housing only the rich will live in London eventually and the poor driven out.

[DemolitionRed]

Originally Posted by LeatherTrumpet

surely by 2030 £1million wont be worth that much?

Depends on inflation but regardless, those £1million properties will be worth £2million by then.

[UserSince2005]

Lucky I have millions then