The UK Land Registry today released its latest report on house prises, showing the ticket-cost of an average home in England and Wales down 2.2 per cent to £177,299 in September from a peak of £181,324 in November 2007. No, that still doesn’t mean that underpaid Westminster interns can afford to buy a home in central London. Per the Land Registry, average house prices in the capital rose 18.4 per cent since this time last year.
Cue the New York Times with an opinion article composed by a young writer, cavilling about the matter:
‘Without capital, those of us who do not own property resign ourselves to running in an exploitative rat race. . . . I live two boroughs away from where I was born [in east London], yet I’ll never be able to afford a home.’
Life is hard for young writers following their passions in one of the world’s most expensive cities.
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