Halifax +2.6 % MoM

Dan:_4

mewbie wrote: »

Dan - I have sigs switched off. Is it worth me logging off, so I can come back as a guest in order to review your signature? Or shall I not bother? Please bear in mind I will be disappointed if you encourage me to go to that effort, and the figures are not really worth looking at.

Nah, it's nothing you don't already know.

Dan:_4

nearlynew wrote: »

Why?

Would it not back up your argument?

No, the Halifax Report is my source.

nearlynew

Dan: wrote: »

No, the Halifax Report is my source.

According to the halifax figures in your sig, 4 times salary would mean an average salary of 40k

(I take it from some of the recent posts that this has been done to death here already so I'll leave it there)

mewbie_2

nearlynew wrote: »

(I take it from some of the recent posts that this has been done to death here already so I'll leave it there)

Absolutely every angle known to man, plus a few made up ones, have been done to death on here. Yet still we argue.

Dan:_4

nearlynew wrote: »

According to the halifax figures in your sig, 4 times salary would mean an average salary of 40k

(I take it from some of the recent posts that this has been done to death here already so I'll leave it there)

Well, £36,368 actually.

Don't forget the word average - i.e. it will totally differ depending on where you live. And you have to take at least 10%-15% off for the deposit.

the_ash_and_the_oak

Dan: wrote: »

Well, £36,368 actually.

Don't forget the word average - i.e. it will totally differ depending on where you live. And you have to take at least 10%-15% off for the deposit.

this last bit something of a problem for ftbs imo

also pretty sure both these average wage/price stats are nationwide tbf

chucky

the_ash_and_the_oak wrote: »

this last bit something of a problem for ftbs imo

average household income for mortgages is somewhere between £39k and £42k.
with respect to everyone - not everyone can afford this especially on single incomes.

the_ash_and_the_oak wrote: »

also pretty sure both these average wage/price stats are nationwide tbf

they are, just like the house prices indicies.
you can look at the median but then not all house prices are calculated using the median so you can get it skewed very easily.

the_ash_and_the_oak

chucky wrote: »

average household income for mortgages is somewhere between £39k and £42k.
with respect to everyone - not everyone can afford this especially on single incomes.

ah ok...we're saying ave price is 4x household income rather than individual income?

chucky wrote: »

they are, just like the house prices indicies.
you can look at the median but then not all house prices are calculated using the median so you can get it skewed very easily.

no problem with whichever is used, but prefer same is used for both price/wage, for it to make any sense to me at least

lostinrates

chucky wrote: »

average household income for mortgages is somewhere between £39k and £42k.
with respect to everyone - not everyone can afford this especially on single incomes.
.

Isn't it important what national average incomes are as well as average mortgage incomes? If not why not? I understand (and agree) buying will never be for everyone, but then, rent paying will be. (or is housing benefit significnt enough to negate the impact of that on potentil rental yields). None of these are leading questions, just genuine acceptance of lack of knowledge.

chucky

the_ash_and_the_oak wrote: »

ah ok...we're saying ave price is 4x household income rather than individual income?

i think it would have to be - an assumption on my part but i would have thought that most property was bought on two incomes or jointly.

here is the bit that people don't understand the affordability - it's not just about single affordability.

the_ash_and_the_oak wrote: »

no problem with whichever is used, but prefer same is used for both price/wage, for it to make any sense to me at least

use whichever index you like - but don't forget that the Nationwide has a southern England heavy mortgage book and Halifax has Northern England. this sort of reflects in the index value.

you would then need to compare regional salaries.