That old chesnut of the FTB house

IveSeenTheLight

edgex wrote: »

what sort of average is that though?

£25k is realistically nowhere near what most people earn
you can get qualified accountants for £20k!


i would base it on 3X £20k = £60k
not £87.5k+

wacking 31% less

The mean average of all employees, thats part time, full time, male, fe-male is £26,020.
If you look at full time only, the mean average is £31,323

Seems a lot of people earn more than you think

LilacPixie

Mr_Matey wrote: »

All this accountant talk is making me sleepy...

me too and i am one

Graham_Devon

IveSeenTheLight wrote: »

The mean average of all employees, thats part time, full time, male, fe-male is £26,020.
If you look at full time only, the mean average is £31,323

Seems a lot of people earn more than you think

Y'see, this is what I cannot correlate with.

Ok, so I live in the South West, home to low wages. However, basing that on an 8 hour day, 5 days a week, thats £15.05p per hour, and thats meant to be average.

Just driving around today, advert for bus driver on back of bus, £8.34 per hour. Advert for courier drivers on back of courier van, £10.30 per hour. These are "average" jobs right? Or are these really low down the food chain jobs?

On seeing your post, and having my local newspaper right next to me, I flipped to the jobs page, one full page of jobs, most of them care based, granted, but there is 11 "proper" jobs.

Highest paying one is £19,890. Thats in the council., 36 hour week. £10.60 per hour. And this is for someone with experience in management (what else in the council!).

So, I thought perhaps its just because of the extreme locality. So I thought I would try a city, so used Exeter. Just clicked search, so I would get all jobs.

25 jobs listed.... 6 jobs out of 25 on the first page come back with roughly 35k jobs. However, 4 of those are actually job shares and paid pro rata, so not actually 35k. So we are down to 2 jobs at or above 35k. Out of 25.

I realise this is hardly any form of proper research. It's just a point that when I see these figures used, of £31,000 being just "average" it simply does not correlate into reality for me.

So I put "Westminster" in as the location. Just 18 jobs came back. BUT, 15 of those 18 were 30k or over.

To be honest, I no longer have a clue what I am trying to say! Just seems the average is always too high, for me, at least.

michaels

Thought I might revive an FTB thread. My house 2/3 bed terrace commuter town outside London is for sale at 324,950. So far I have had 2 viewings and 2 offers, both from 'FTBs' with big deposits, mortgage in principle etc currently in rental, offers over 300k - so those who think 160 is hard for an FTB may be need to raise their sights?

lostinrates

michaels wrote: »

Thought I might revive an FTB thread. My house 2/3 bed terrace commuter town outside London is for sale at 324,950. So far I have had 2 viewings and 2 offers, both from 'FTBs' with big deposits, mortgage in principle etc currently in rental, offers over 300k - so those who think 160 is hard for an FTB may be need to raise their sights?

Congratualtions! Are you accepting one of those offers?

michaels

More tricky as I think I have lost the one I was looking at to buy and to date there have been very few suitable properties available in the rather small catchment area I am looking in so it may be tricky to hold on to a buyer while I find something, especially at this time of year (not a typical time for families to think about moving) - time to turn fully bear and STR?!

lostinrates wrote: »

Congratualtions! Are you accepting one of those offers?

lostinrates

michaels wrote: »

More tricky as I think I have lost the one I was looking at to buy and to date there have been very few suitable properties available in the rather small catchment area I am looking in so it may be tricky to hold on to a buyer while I find something, especially at this time of year (not a typical time for families to think about moving) - time to turn fully bear and STR?!

Oh, I'm sorry about the one you wanted: consider though that it might not yet be gone!

re FTB, it IS regional, and you expect FTB in SE, particularly in pocket of SE like yours, to have among the very highest incomes.

Thrugelmir

Ultimately property prices will reflect what FTB's can afford on a regional level. Local property prices will reflect local wages. Towns with a a high dependancy on a particular factory for example. Will have a lot of people on very similar wages within a band.

Taking my locality in Swindon. Honda employs 3,500, the NHS 3,000 and Nationwide 2,500. How many of these 9,000 people earn over £25k ? A small proportion thats a certainty. An average admin temporary job pays between £8.50 and £13 per hour. A lot of companies here now work on contract rather permanent staff. There's no sick pay for temporary staff either.

I was born and lived all my younger years in Reigate, Surrey. To buy my first property I moved to Selsdon. As there was no way that I could afford even the first rung of the ladder.

silvercar

Is it too obvious to say that the average salary of a FTB is always going to be higher than the national average salary?

silvercar

My take on the reason 80% of FTBs get family help.

Previous generation benefitted from free tuition at university and maintenance grants, so many left with little or no overdrafts. Nowadays house prices are so much high relatively and our little darlings are saddled with student loans. So the natural thing is to offer to help reduce their loans. But loans are backed by the government and charge no interest (actually negative in some cases) plus lenders don't consider student loans as real debt as they are paid back out of salary at minimal rates. Plus there are no 100% mortgages. So parent may as well give the money they were going to pay off the student debt as a house deposit. That way the younger generation have a house deposit, a loan that diminishes in real terms with no pressure to repay and can get a decent mortgage rate by a lower LTV.