London home 'needs £93,000 wage'

lostinrates

Its confusing, because the impact of wages in not confined to the City -as the ask and the oak explains-, nor (patches of) London, but the ''stockbroker belt'' too.

the_ash_and_the_oak

The population of the City is around 8,000 imo

Really2

the_ash_and_the_oak wrote: »

So you would only really be removing prices not wages if you did that imo?

So only the mega rich in the city it's self then.

So £350K is around the average house price down there then.:eek:

the_ash_and_the_oak

Really2 wrote: »

So only the mega rich in the city it's self then.

So £350K is around the average house price down there then.:eek:

I really don't know who lives in the 'actual City' (very few actual places obv) - if even city workers. As for the impact of city wages I think as stated just prior - this is probably felt across the southeast rather than specifically in London itself

The_White_Horse

Really2 wrote: »

So only the mega rich in the city it's self then.

So £350K is around the average house price down there then.:eek:

350k is about right for an average house in and around London.

For a decent house in a decent area - 450-650k

For a very nice detached family house in nice ares 550k-850k ish.

Very very nice home 850K and beyond. near me, 2-3m.

Welcome to London. And even if you spen 2m, you will have a council block/estate within 5 minutes walk.

Really2

So I suppose the next point is that town wages and prices are really a bit false.

I used to live in a town where the average wage was around £18K but the average property was over £200K.

The reason for that was that no one really worked in the town, it was a very nice commuter town but had no way of supporting prices other than it's looks and it's locality to well paid jobs.

inspector_monkfish

the_ash_and_the_oak wrote: »

I really don't know who lives in the 'actual City' (very few actual places obv) - if even city workers. As for the impact of city wages I think as stated just prior - this is probably felt across the southeast rather than specifically in London itself

i understood really2 to be talking about the actual entire City of London, rather than just the financial district, known as 'The City'

because as you say, their aren't many actual places to live around there, and those that are there will just be company appartments above offices

unless i've got the wrong end of the stick

lostinrates

I have very low paid worker friends who live in the City: in flats above bars etc. (rented.) The mega rich don't just live in the City Really, the London centric ones live in other Londn lacations, others come in from ''Posh'' home county locations. The point is there is no one place you can isolate this wage to.

Ah, then seen Monkfish's post. Yes, the distinction is needed Really...:) (although the problem is mitigated but not resolved by refering to London as opposed to the City imo.)

the_ash_and_the_oak

inspector_monkfish wrote: »

i understood really2 to be talking about the actual entire City of London, rather than just the financial district, known as 'The City'

because as you say, their aren't many actual places to live around there, and those that are there will just be company appartments above offices

unless i've got the wrong end of the stick

This would make more sense (just looked, over half the popn of The City live in the barbican complex). But then what do we mean? Remove city workers salaries and the houses they live in? But how do we do this? the former is easy but is the latter? (and what proportion of city workers live outside London and in commuterbelt?)

inspector_monkfish

the_ash_and_the_oak wrote: »

This would make more sense (just looked, over half the popn of The City live in the barbican complex). But then what do we mean? Remove city workers salaries and the houses they live in? But how do we do this? the former is easy but is the latter? (and what proportion of city workers live outside London and in commuterbelt?)

yep, and alot of those barbican flats are company owned, or 2nd homes for people that work in the city, but commute from far out