Lack of supply pushing up prices

the_ash_and_the_oak

Sir_Humphrey wrote: »

But the average figure is way out of whack even taking into account these factors.

The average first time buyer would be in his 20s/30s and not be at peak earning potential, so that point also cuts both ways.

Personally, I think you need to do this comparison borough-by-borough as there is a huge variation in incomes across London.

Well basically you have to compare like w like imo. ave salary w ave price, or ave ftb salary w ave ftb house (not quite sure how the latter would be done tho)

There's also the question of filtering out the salaries of non-buyers (tho with each decade think this becomes less of an issue as owner-occupancy stats rise)

LydiaJ

Nikkster wrote: »

Only becuase it covers some ground mentioned in this thread (e.g. London, multiples of income etc.)... and because I'm too scared of you lot to start a new thread (!):

http://newsvote.bbc.co.uk/1/hi/england/london/8306120.stm

Thanks for the link. Welcome to the board. Don't be scared - the agressive posters mostly take out their frustrations on each other. If you post pleasant and polite things, you're unlikely to get shot down in flames. There are some lovely people in here too, and I've learnt a lot about the economy and the housing market since I've been frequenting this board.

One word of advice though... just ignore all the stuff about who is whose sock-puppet. There are plenty of more interesting posts to read.

That's all from me but my daughter (who's 6) has just come over and wants to add some smilies:

:A:T:rotfl::j:beer::A:T:rotfl::j:beer:

penguine

Really2 wrote: »

I think at 3 years old you get 15 hours a week funded by the government (or some thing like that). You may be able to cheer your friends up with that news.

Currently 12.5 hours per week, rising to 15 hours per week in 2010.

It's nice but it doesn't make a huge difference, especially if you have a 2nd child.

Really2

penguine wrote: »

Currently 12.5 hours per week, rising to 15 hours per week in 2010.

It's nice but it doesn't make a huge difference, especially if you have a 2nd child.

I think for us it will work out around £60-70PW saving.