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Median house prices in London the median house now cost up to 12 times the median London salary. In 1995, the median house price was £83,000, 4.4 times the median income. By 2012–13, the median income in London had increased to £24,600 and the median London house price had increased to £300,000, 12.2 times median income [8]
A flophouse (American English) or doss-house (British English) is a place that has very low-cost lodging, providing space to sleep and minimal amenities. [1]
People on median incomes who work in central London often live in the outer suburbs of London and the commuting towns of South East England. [68] In 2023, rental costs in England are found to be 25.4% more affordable than owning a property with a mortgage, marking the first time this has occurred since 2010.
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[10] [11] The relative wealth of the various places has changed slightly. Whitechapel Road is now the cheapest (as opposed to Old Kent Road) but Mayfair remains the most expensive; in 2016 an estimate by loan provider West One showed the average house price on each was £590,000 and £3,150,000 respectively. [12]
According to TripIndex by TripAdvisor, five of ten cheapest cities in the world are located in Asia, with four of them located in ASEAN/South Asian countries. The research is based on costs of a one-night stay in a four-star hotel, cocktails, a two-course dinner with a bottle of wine, and a taxi transport (two return journeys of about 3.2 kilometres each).
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