New research from property buying website Zoopla has revealed the areas in London where properties earn as much as their owners.
With the South East borough of Bromley seeing the average property cost £545,800 but became more lucrative with value increasing by £67,300 since the beginning of the pandemic.
Making it the equivalent of £85 extra per day according to the data from Zoopla.
That means that the rise sees homeowners in the Bromley make more on their property than they earn.
The median salary for the area is set to be £33,595 according to ONS data.
Whereas in London’s cheapest boroughs of Barking and Dagenham the average house price is £374,000 and saw homeowners make almost as much as their salaries on their homes.
After house prices increase by nearly £50,000 from February 2020 alongside a medium salary of £26,700.
The report saw a similar thing in Bexley, Havering, Waltham Forest and Redbridge where homeowners made close to their wages on properties.
The rise in property values in the outer London boroughs are said to be reflective of the national trend, with UK prices increasing by 15 per cent during the pandemic.
But the capital has seen property growth at its slowest with homes increased by just seven per cent in value, making it less than half of the national average.
With some inner London homes losing value as working from home impacted the demand for a central location.
As more than 200,000 inner London homes see values decline by five per cent or more, which is largely affecting properties in Westminster, Kensington, Hammersmith, Tower Hamlets, Chelsa and more locations.
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