In London, the answer is £87k, according to the National Housing Federation. The average London home costs £408,384. £87,511 gets you a 75% mortgage. You'll need to find £100,000 for the deposit. Of course, that's treating the average house as a starter house... most people looking at this kind of property are trading up, with some equity already in bricks and mortar. Now, this isn't - for a single moment - the Rat and Mouse suggesting there's anything sane about those figures. Other insanity in the NHF report (entitled Home Truths):

• Only Barking & Dagenham, Bexley, Newham and Waltham Forest have average properties that cost under a quarter of a million pounds.
• To even buy a property in the bottom 25% of values, buyers need an average salary of £46k.
• Private sector rents are up 30% on 2008 levels.
• The average price to earnings ratio in the London property market is 15:1. Unaffordable? I think it's safe to say that.

Download your own copy of the report here.

Technorati Tags: property, real estate