LONDON — Stagnant salaries and skyrocketing house prices mean that many women in London are having children later than the national average, according to research from industry analysts Expert Market.
Analysis of ONS figures released in October last year found that women in London are worst off when it comes to house price to salary ratios, with the average female London salary equating to just 7.15% of the average cost of a home in the capital.
At the same time, house prices are outstripping salary growth, which is driving up the average age at which women have children in the capital.
The average age for a mother to have a child in the UK is now 30.3, a figure which is 13% higher than the 1975 average. In London, that figure is being pushed even higher. Take a look at this chart:
It shows that 63% of women living in London have children past the age of 30, a significantly higher figure than any other part of the country. So what’s happening?
1. Stagnant salaries
Salaries in the capital are rising more slowly than house prices. Consider the chart below:
Wages among the 22 to 29-year-old demographic have risen the least, rising by just 23.52%. Most London mothers were found to be in the 30-34 age bracket, allowing for longer to accumulate savings needed to buy a house in London.
2. Rocketing house prices
House prices in London have increased faster than any other part of the country over the past two decades, although there are signs of a slowdown in the market. Average house prices are still far higher than any other part of the country, as this chart demonstrates:
In the North East, the average salary represented 20.55% of the average house price, the smallest disparity in the UK. That correlates with the region having the youngest mothers of any region, with just 43.78% of mothers giving birth over 30. That compares with the 63% of women living in London have children past the age of 30.