With the average London house costing £438,000, the capital gain was worth £38,729. The average London household post-tax wage, however was of £38,688 in 2011 (apparently the last year for which the ONS has statistics).
Now, there are some issues with cross comparison and the FT freely admits that it hasn't factored
"London houses don’t sleep or take holidays, and earned £4.42 every single hour of the year to July."Perhaps it is time to add hard-working houses to the political lexicon.
