Earlier quoted context omitted.
What? No that will not allow you to buy "most houses in London in cash after saving for 5 years" unless you live far out of town in a tiny place and eat plain rice for 5 years, and even then it'll be long odds. First, you'll take home slightly over half of that net of various taxes and deductions, but let's be generous and say your take-home is 200k. You live very frugally, don't go out, don't really buy anything and…
What are you smoking? The median house price in London is 500k. At 750k you can afford 77% of houses and at a million you are in the top 10%. 50k per year is also a preposterously high expenditure. Rent will be your leading expense by probably a factor of 10. You could put aside 3k a month for rent (again, totally preposterous number) and not touch the sides. The only thing I can think of that would even come close t…
'Inner London' and it goes up to £876K