Buy-buy to reality: House prices up £50,000 in one month

House prices continue to rise even more ridiculously high. Where will it end?

Metro

House prices are stretching further and further out of reach of ordinary families after they soared by as much as £50,000 last month.

The average cost of a home in London has climbed to more than £544,000, up ten per cent since mid-September, new figures suggest.

There has also been a property boom in the city’s commuter belt, with average prices now topping £300,000.

Miles Shipside, an analyst for Rightmove, which compiled the figures, said there was a mismatch between wages and the cost of a home in the capital.

‘It’s unsustainable because most people just can’t afford to pay higher and higher prices. They’ve come to the limit,’ he told Metro.

The latest rises have seen a home in the centre of London now cost an average of nearly £1million. In the outskirts, the figure is £462,000.

Prices are also creeping up in much of the country, although homes in…

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