Average Twickenham home costs £400,000: twice the national average

12.27.59pm UTC (GMT +0000) Thu 25th Jan 2007

The latest Halifax survey of house prices for the Twickenham area (including Teddington, Whitton and the Hamptons) shows that there was 11% inflation during 2006, lower than the London (16%) or national (12%) rate. Over a five year period the increase has been 45% (58% in London; 75% nationally).

The level of prices is however much higher: a fraction under £400,000 as against £325,000 for London and £200,000 for the UK. Average mortgages are similarly stretched: £275,000 as against £230,000 for London and £135,000 for the UK.

Vincent Cable said that: "what these figures tell us is, first, that house prices are now way out of reach of people on modest incomes. Even though average earnings are around £35,000 for those in full time work, this would typically command a mortgage of around £100,000 which is hopelessly inadequate."

"Second, the average family is now being sucked into the inheritance tax bracket on the house value alone, let alone if financial savings are considered. The thresholds for this tax have fallen well behind housing inflation."