A portrait of aspirant homeowners in London

The challenge of housing affordability in London is now one of the top concerns of politicians and public alike. While the issue most obviously affects those on very low incomes, middle-income households are also priced out of the market—especially if they aspire to own their own homes. The nominal cost of buying an average home in the capital has risen by more than 600% in the last 15 years, while the proportion of homeowners has fallen from 57% to 51% (the lowest in the country). Crucial workers such as teachers, chefs and doctors but also accountants and creatives for London’s thriving industries who do not manage to buy homes in the capital may simply move elsewhere, diluting the capital’s skills base and weakening its communities and productivity.