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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]
Despite their association with the working class and Victorian Britain, terraced houses remain popular. In 2007, a report by Halifax Estate Agents showed prices of terraces had increased by 239% over the previous ten years, with an average price of £125,058. [8] By 2013, the average price for a terraced house had exceeded £200,000. [30]
The median multiple indicator, recommended by the World Bank and the United Nations, rates affordability of housing by dividing the median house price by gross (before tax) annual median household income). [18] A common measure of community-wide affordability is the number of homes that a household with a certain percentage of median income can ...
The consequence of this is seen in the high price for top-end dwellings. The most expensive home ever sold in the UK was 2–8a Rutland Gate, Hyde Park, which sold for £280 million in 2015. [62] The most expensive street in the UK is Kensington Palace Gardens, London, where the average price of a home is approximately £42 million. [63]
A pre-regulation terraced house is a type of dwelling constructed before Public Health Act 1875 (38 & 39 Vict. c. 55). It is a type of British terraced house at the opposite end of the social scale from the aristocratic townhouse, built as cheap accommodation for the urban poor of the Industrial Revolution.
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China is also experiencing a gap between housing prices and affordability as it moves away from an in-kind welfare benefits system to a market-oriented allocation system (Hui et al. 2007). Most urban housing prior to 1978 in the planned-economy era consisted of nearly free dwellings produced and allocated by the unsustainable single-channel ...
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