House Prices in Ealing

House prices in Ealing are seven times more expensive than the average earnings for the area.

According to figures obtained by the GMB union, average house prices in Ealing stand at £297,887, but the mean gross annual pay for full time employees is £40,313.

John Cope, Acting GMB regional secretary said: "This new analysis shows that house prices in London have yet to fall towards the affordability range as they have done in parts of other regions.

"The sooner house prices return to their long-term affordability range the better and this is likely to happen by a combination of a fall in prices and erosion by inflation while wages catch up.

"The house price bubble has to unwind and that together with the decline in the price of oil, the cut in interest rates and the cut in the VAT rate should mean that there will be more money in the pockets of workers who are able to stay in their jobs.

"Only at that point would there be light at the end of the tunnel, but it is not clear how far away that point is."

For London as a whole, house prices are also seven times the average earnings and the borough of Hackney tops the chart with average house prices costing £341,268 - nearly ten times the average earnings for full-time workers.