Halifax +1.1% (YoY -12.1%)

Charlton_King

I'll tell you what's supporting the housing market.

I have a mortgage broker friend who tells me that over half of the new enquiries he's getting are from new immigrants from Eastern Europe.

They've worked hard, saved hard, lived ten to a rented house... and are now buying homes for themselves at reasonable prices.

Somewhere in there there's a moral to be learned by the f eckless inhabitants of the mortgages forum who moan about not being able to put up a 10% deposit on a £100k starter home after 10 years of being in work...

ad9898_3

chucky wrote: »

it's average salary vs average house price cue another discussion

So are we saying that the average salary is no 40k ?, or have the rules changed for the graph halfway through so that it's now household income is 40k (i.e.two wages instead of one).

Graham_Devon

ad9898 wrote: »

So are we saying that the average salary is no 40k ?, or have the rules changed for the graph halfway through so that it's now household income is 40k (i.e.two wages instead of one).

Last time we argued about this, the average wage for the Halifax came in at 38k.

This was single income, and only included male wages.

Not sure if this graph is based on that or not.

EDIT: Just read this on HPC alongside that very same graph...

"According to the Halifax, average wages fell between June and July, from £37,018 to £36,576. The P/E ratio now stands at 4.36."

chucky

ad9898 wrote: »

So are we saying that the average salary is no 40k ?, or have the rules changed for the graph halfway through so that it's now household income is 40k (i.e.two wages instead of one).

as you know that is a totally different discussion and has run it's course a million times...

there was a trend of falling house prices there is now and a trend of increasing house prices not just one month.

if you want to argue against that trend please do, i haven't seen you tell me why it shouldn't be rising. i'm simply showing what the data is saying that in some areas affodability is lower than the historical average

chucky

Graham_Devon wrote: »

Last time we argued about this, the average wage for the Halifax came in at 38k.

This was single income, and only included male wages.

Not sure if this graph is based on that or not.

the national average wage is not 38k.

and it's a household income it's based on - that obviously could be single or joint.

ad9898_3

Graham_Devon wrote: »

Last time we argued about this, the average wage for the Halifax came in at 38k.

Oh ok, I must have missed that, 38k though ?, amazing.

Charlton_King

And if what I've mentioned in post 22 is correct, most of this 'affordability' stuff goes out the window.

Graham_Devon

chucky wrote: »

the national average wage is not 38k.

and it's a household income it's based on - that obviously could be single or joint.

If you read my edit, I have taken the info from elsewhere. Last time we were in argument about it, it certainly wasn't household income, as Halifax did not count female wages.

I can't remember who posted up the stuff direct from the Halifax about how they calculate it. But it's clear above it says average wage, not household income.

Been in so many arguments with ISTL on this one!!

ad9898_3

chucky wrote: »

the national average wage is not 38k.

and it's a household income it's based on - that obviously could be single or joint.

Ah ok, so the 4x average is based on household income now, which is not necessarily a single wage, fair enough.

chucky

ad9898 wrote: »

Ah ok, so the 4x average is based on household income now, which is not necessarily a single wage, fair enough.

i've always thought of is a household income. of course it can be single or joint.

Graham_Devon wrote: »

If you read my edit, I have taken the info from elsewhere. Last time we were in argument about it, it certainly wasn't household income, as Halifax did not count female wages.

I can't remember who posted up the stuff direct from the Halifax about how they calculate it. But it's clear above it says average wage, not household income.

Been in so many arguments with ISTL on this one!!

i'm happy to be proved wrong

however, ISTL may be talking about something else when talking about average wage not referring to Halifax or Nationwide.

it goes back to the average household vs average salary argument