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I agree - it should be possible, although you may question whether it is worthwhile putting in the work required to earn 80k just to own a moderate house/flat in London (i.e. probably not big).
Plus all these sums work now while interest rates are low. Whether the bank will think you meet affordability tests to lend money to you is a different question - as they are required to check that you can meet certain stress tests (including could you afford it if interest rates went up)
andyfallsoff
I think there's two different conversations here. Many of the recent posts have concerned the specific scenario of someone earning £80k a year trying to buy a £550k home:-
from: https://www.lfgss.com/comments/14995800/
Which, due to the miscalculations, didn't seem possible but is. If you're earning £80k then you're more than likely able to save for a £50k deposit in a few years to then borrow ~£500k for a £2200/mo mortgage payment to buy the average London house (~£550k).
But that leads into your/the bigger point. If only the top 5% earners of the country are in a position to be able to do so for the "average" London house then, as we all know, it's all fucked.
If I put the cart before the horse and worked out I could scrape to a £2200/mo mortgage payment whilst covering all essentials (food, bills, etc) then that's all fine and dandy, but if I'm left with a £100/mo disposable income then I'm fucked for trying to save for the deposit to buy the place. Trying to save £50k at £100/mo isn't going to get very far.