Someone’s redesigned London’s Tube map to show what salary you need to afford a flat at any station
Have you ever wondered how much you’d need to earn to buy a flat in London?
Then fear not – Totally Money has redrawn London’s Tube map to help you on your way – or entirely crush your home owning dreams, more likely.
Read more: Millennial home ownership slides as affordability crisis worsens
Even if prices in the capital are waning, they’re still far more than the average first-time buyer can afford.
Assuming a 10 per cent deposit, a 25-year mortgage, and 40 per cent of earnings going on repayments each month, the credit comparison firm has listed how much it would cost to live in a one-bedroom flat within 1km of each Tube stop.
A flat in Covent Garden would require a £140,800 salary, while prestigious Knightsbridge tops the list with a £248,600 salary requirement, followed closely by Hyde Park Corner at £230,000.
Down the other end of the scale, you’d only need a wage of £17,400 to afford a room of your own in Newbury Park, or £27,300 to live in green, suburban Wanstead.
Here are the 10 most expensive places in London to live.
Station |
Salary Required |
|
Moorgate |
£158,700 |
|
Cannon Street |
£162,300 |
|
Bank |
£165,300 |
|
Bank |
£165,500 |
|
Blackfriars |
£168,000 |
|
St. Paul’s |
£170,900 |
|
Bond Street |
£173,400 |
|
Mansion House |
£176,100 |
|
Hyde Park Corner |
£230,000 |
|
Knightsbridge |
£248,600 |
Read more: House prices are falling on each one of London's top 10 priciest streets
And here are the 10 cheapest.
Station |
Salary Required |
|
Newbury Park |
£17,400 |
|
Redbridge |
£17,400 |
|
Oakwood |
£17,600 |
|
Upney |
£22,300 |
|
Croxley |
£25,500 |
|
Chigwell |
£26,400 |
|
Hornchurch |
£26,400 |
|
Wanstead |
£27,300 |
|
Dagenham East |
£27,300 |
|
Dagenham Heathway |
£28,000 |
But take a look at the map below (or via this link) and discover how much you need to earn in any area of London to afford your own one bed flat.