See how long it’ll take you to save for a deposit in your east London postcode
PUBLISHED: 11:10 26 April 2018 | UPDATED: 11:10 26 April 2018
It will take people in Stratford 45 years to save for a deposit on a home, new data shows.
Online tool Deposit Hotspots shows people how long it’ll take to put down a deposit, based on their average salary and average house prices in the area.
The map below shows how long, on average, it’s predicted people will need to put down for a property in east London based on their postcode.
Those just outside of Newham, in E10 postcodes, fare the best with 31 years to wait, while Forest Gate residents will take an average of 48 years to save.
On average, it’ll take 42 years for those living across E1 to E16 to save for a property.
In January, it was revealed that house prices in Newham are rising faster than any other London borough, with the average home now costing £402,781.
To see the Deposit Hotspots tool, created by interior designers Hillarys, visithillarys.co.uk/static/deposit-hotspots.
If you value what this story gives you, please consider supporting the Newham Recorder. Click the link in the orange box above for details.