Yes, for perspective relatively modest 3 bedroom houses in London are going up in price, every month, by more than the average person in the UK as a whole takes home.
You can be in the top 1% by income in London and still simply not be able to afford a small family home.
All the income from people in London is extracted by those owning the land, because you need to live somewhere to earn that money. It's basically monopoly, doesn't matter if you pass go and collect £200 or £2000, all that happens is the people owning the properties around the board take it until you run out (or if they want to extend the game
You can be in the top 1% by income in London and still simply not be able to afford a small family home.
Home equity wealth inequality in crippling.