What You Need to Earn to Buy in L38

The median home in L38 sold for £340,000. To buy at that price you'd typically need a household income of about £64,000 — based on a 15% deposit and a 4.5× income multiple. Prices are down 6.2% on the previous year.

Deposit needed to buy in L38

Deposit %	Deposit £	Mortgage needed
5%	£17,000	£323,000
10%	£34,000	£306,000
15%	£51,000	£289,000
25%	£85,000	£255,000

A typical mortgage on the £340,000 median (85% LTV, 4.5% over 25 years) costs around £1,606/month. Based on 66 Land Registry sales.

Common questions about buying in L38

What salary do you need to buy a house in L38?

The median home in L38 sold for £340,000. With a 15% deposit and a typical 4.5× income multiple, you'd need a household income of about £64,000 to buy at that price. Higher-multiple lenders can reduce the income required — check your own figure with the affordability calculator.

How much is a typical mortgage payment in L38?

Borrowing £289,000 (85% of the £340,000 median) at 4.5% over 25 years works out at roughly £1,606 a month on a repayment basis.

How much deposit do you need to buy in L38?

On the £340,000 median price, a 5% deposit is £17,000 and a 10% deposit is £34,000. A larger deposit usually unlocks lower rates.

Are house prices in L38 rising or falling?

Based on the latest Land Registry sold prices, prices in L38 are down 6.2% on the previous year, across 66 recorded sales.

Can you afford to buy in L38?

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