London's average house price is currently $960,000 (and over a million for what's being sold), pandemic be damned. And that's for the smallest average housing in the West (25% smaller than the Japanese even).
https://www.zoopla.co.uk/house-prices/london/
It'll take a nuclear strike to maybe dent the fecking market. When I lived 25 miles from the centre my workmate could still put down a deposit for a flat, with a shop assistant job. 12 miles further in and a doctor's wage still can't afford the same.