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Debate House Prices


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Who should be able to buy property?

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Comments

  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Everyone with a full time wage
    IveSeenTheLight wrote: »
    I find it interesting when people talk about the house price - earnings ratio

    If you look at this link, Q1 09 was showing a house price - earning ratio of 4.35 while the long term average is 4.02.

    The highest was 5.86 (on average for the UK), therefore it simply is not the case that the ratio has bnever been so out of sync.

    http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp then click the affordability option under other housing research

    Incidently the mortgage repayments as a percentage of income is currently 30.56% with the 26 year average being 37.29%.
    The highest percentage was in Q2 90 when it was 65.54% :eek:

    On false average wages :)

    You should really pop that in to your posts so I don't have to kep saying it :p
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Other - please describe below
    Graham_Devon wrote: »
    On false average wages :)

    You should really pop that in to your posts so I don't have to kep saying it :p

    :wall:
    :wall:
    :wall:
    :wall:
    :wall:
    :wall:
    :wall:
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Other - please describe below
    Graham_Devon wrote: »
    On false average wages :)

    You should really pop that in to your posts so I don't have to kep saying it :p

    You never do bother to look up the facts do you?
    The data is taken from the ONS which you were pro in another thread

    Look at the latest release

    http://www.lloydsbankinggroup.com/media/pdfs/halifax/280409FTBAffordabilityReview2009Q1Final.pdf

    It states
    The second quarterly Halifax First-Time Buyer (FTB) Affordability Review tracks housing affordability in 297
    local authorities (including 31 London boroughs) across the UK    . A local authority (LA) is classified as
    affordable if the average house price for an FTB is lower than the price someone on average earnings in
    the area can pay based on the historical average house price to earnings ratio of 4.0     (see Editors' Notes for
    details). The calculation is based on a single income and is, therefore, conservative. The review is based on data
    from the Halifax's own extensive housing statistics database and ONS data on average earnings.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Harry_Powell
    Harry_Powell Posts: 2,089 Forumite
    Surely not everyone gave false wage information in 1990, did they?

    Why the lying b'stards!!! :angry:
    "I can hear you whisperin', children, so I know you're down there. I can feel myself gettin' awful mad. I'm out of patience, children. I'm coming to find you now." - Harry Powell, Night of the Hunter, 1955.
  • mewbie_2
    mewbie_2 Posts: 6,058 Forumite
    1,000 Posts Combo Breaker
    Everyone on average wages or above
    ISTL has been talking about house price affordability ever since I joined. I believe the averages must have got better as prices have dropped, and presumably will get better still as they continue dropping. So he will be able to carry on promoting the message of affordability. I do believe one day he will be right.
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Other - please describe below
    mewbie wrote: »
    ISTL has been talking about house price affordability ever since I joined. I believe the averages must have got better as prices have dropped, and presumably will get better still as they continue dropping. So he will be able to carry on promoting the message of affordability. I do believe one day he will be right.

    Only been showing facts mewbie and backing it up with links for others to see for themselves

    Sorry you dont like these facts ;)
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 25 June 2009 at 8:27PM
    IveSeenTheLight wrote: »
    The highest percentage was in Q2 90 when it was 65.54% :eek:
    That ties in with a post I made earlier on the AD thread and certainly doesn't surpise me.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Harry_Powell wrote: »
    Surely not everyone gave false wage information in 1990, did they?

    Why the lying b'stards!!! :angry:

    No interest rates had just doubled from 7.5% to 15% on top of property prices doubling :eek:
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Graham_Devon wrote: »
    On false average wages :)

    You should really pop that in to your posts so I don't have to kep saying it :p

    Not quite with you there, are you saying they are telling lies?
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    edited 25 June 2009 at 8:43PM
    Everyone with a full time wage
    IveSeenTheLight wrote: »
    Only been showing facts mewbie and backing it up with links for others to see for themselves

    Sorry you dont like these facts ;)

    Your select facts? While when someone disputes it, you make up some nonsense about them which cannot even be proven?

    Nearly as desperate as this site:
    http://www.mortgageguideuk.co.uk/blog/house-prices/house-prices-income/

    In 2008 Average income was about £38,302 (1) Average house price =£197,000 (BBC)
    Therefore house price to income ratio about 5.1
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