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Shelter finds just 43 'affordable' homes in London

The 'average' family has very little choice when it comes to buying a home, according to Shelter Credit: Yui Mok/PA Wire/Press Association Images

A snapshot survey by the housing charity Shelter has found just 43 homes for sale in London which could be afforded by families earning an average income of 30 thousand pounds. It examined thousands of properties on the market but found very few where an average family could pay the required mortgage.

Sharpest increase in private rent prices in London

Sharpest increase in private rental prices are in London Credit: Yui Mok/PA Wire

Private sector tenants are facing the steepest increases to their rents seen in more than a year and a half, according to Office for National Statistics figures.

Across Britain, private rental prices paid by tenants increased by 2.1% in the 12 months to March; the fastest annual rate of increase recorded since August 2013 - and within England, the sharpest annual rate of price growth was in London, at 3.2%.


Half of London businesses struggling to recruit

More than 50% of businesses in the capital have struggled to recruit new staff in the last three months.

Research by the London Chamber of Commerce and Industry also found 26% of firms felt under pressure to increase wages.

It is urging government to make it easier for businesses to employee people from overseas.

"For the second successive quarter, businesses have told us that they are facing significant issues recruiting staff with the right skills. This means that increasingly, businesses need to look outside of the domestic labour market for the staff they need. "Making it easier for businesses to recruit from overseas is critical, we must see a reduction in the red tape associated with recruiting non-EEA workers and exempt foreign students from the net migration target, restoring their right to work in the UK after graduating."

– Peter Bishop, Deputy Chief Executive of London Chamber of Commerce and Industry

Sellers urged not to list property at unrealistic prices

Credit: Reuters

41% of homeowners in London would try to sell their property for a higher price than their estate agent quoted.

New research from online estate agency eMoov has warned that people could see their homes failing to sell for months because they have listed their properties way over their real value.

Its survey also found 31% of Londoners say getting the highest price is the most important factor when selling a home.

While only 3% would list their property at a lower price than they've been quoted by the estate agent.

Across the UK, it found the average home sold for £180,252 according to the latest Land registry report yet the average asking price on property website Rightmove is £279,000.

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