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Here's what it'll cost to get on the London housing ladder in 2030

Average house prices in London are set to pass £1m by 2030.

Credit: eMoov

New figures by online estate agents eMoov show if you want to live in the capital in 2030, the best bet for getting on the ladder is Barking and Dagenham with the lowest average house price.

However, by 2030 the definition of affordable is considerably different to today, as the average property in Barking and Dagenham will cost you over £450,000, compared to £246,000.

Getting on the London ladder is already out of reach for the majority and the picture painted by this research gives little hope for those aspiring to do so in the future. London will always drive the UK market in terms of value and so an increase in prices is inevitable.

However, when you consider that in 15 years the price of property could almost double, it makes for a worrying outlook for the majority.

This research highlights that the current mix of high demand, easily obtained credit and low supply are a volatile mix to be fuelling the UK and London markets with and what the outcome could be if it continues.

– Russell Quirk, Founder & CEO, eMoov.co.uk