London home 'needs £93,000 wage'

PasturesNew

The average house is probably the 3rd buy between a couple.

Single FTBs rarely buy an average house.

LittleMissAspie

My parents' first house was in greater London. 3-bed end of terrace. They bought it purely based on my dad's salary, he was a manual worker. Mum was working but her salary didn't count for the mortgage.

May 2008, the house next door to the one above (mid terrace) sold for £323k.

So what my unqualified blue-collar dad did in the 1960s would take a lawyer's salary to do today.

lostinrates

Harry_Powell wrote: »

What a miserable life

Weekending not so much, daily commute of that length, I agree, its would be hav to be a preety good payoff to convince me!

carolt

LittleMissAspie wrote: »

My parents' first house was in greater London. 3-bed end of terrace. They bought it purely based on my dad's salary, he was a manual worker. Mum was working but her salary didn't count for the mortgage.

May 2008, the house next door to the one above (mid terrace) sold for £323k.

So what my unqualified blue-collar dad did in the 1960s would take a lawyer's salary to do today.

Exactly the same - my dad also bought on max 3 times loan of his salary, and was also at that point a manual worker. (My mum's salary could not be taken into account.)

House then - £2000 - 3 bed semi in Finchley - same house at peak - 500K ish.

Ooops. Something clearly quite barmy there. :eek:

carolt

lostinrates wrote: »

No, its relevant, but so are the property prices of outside London! ( But also, we've gone back to needing to separate the issue of meaning Londn not the City).....I have no idea what proportion of people in th City commute in from outside London, or Greater London, for example...does anybody know?

(It would be intersting to know, also, how the statistic availablity of Council accomodation and HA accomodation stood., as an aside, both in the City and in London)

My guess is there are fewer owner occupiers amoung the working population of London. Much fewer if you look at say, the under forties, or under 35s.

Yes, I saw some figures a couple of years back. IIRC, it was under 50% OO.

Harry_Powell

lostinrates wrote: »

Weekending not so much, daily commute of that length, I agree, its would be hav to be a preety good payoff to convince me!

I think I'd hate being away overnight more than a 4 hr daily commute. I cant imagine taking any job that would require me to be away from my gf all week, every week. What would be the point of being together?

lostinrates

Harry_Powell wrote: »

I think I'd hate being away overnight more than a 4 hr daily commute. I cant imagine taking any job that would require me to be away from my gf all week, every week. What would be the point of being together?

I think, like many things, its matter of personal choice and circumstance. No right or wrong. Just as I would feel it hard to be the wife of someone in the services, away for months at time, but services families obviously are committed to each other and maake it work, and I'm sure see the point in their relationships. I'd prefer to go to bed with DH every night I think, but that wouldn't hppen if we did live together. People's relationships all work differently, but they pretty much all have point. The ones that work, anyway.

Harry_Powell

Sorry LiR, I didn't realise you were speaking from experience re: weekend wife. As you rightly say, everyone is different and what works for one person doesn't necessarily work for another. I suppose I just baulk at the idea (personally) of putting a job or even money before being with my gf.

lostinrates

Harry_Powell wrote: »

Sorry LiR, I didn't realise you were speaking from experience re: weekend wife. As you rightly say, everyone is different and what works for one person doesn't necessarily work for another. I suppose I just baulk at the idea (personally) of putting a job or even money before being with my gf.

I don't feel put second, lol, The money is for us, not him, and I'd feel pretty shabby if we lived together and he was not stretched intellectully. But thats us. I don't think nyone is truley in position to make judgements about what is right in other people's arrngements because we're all so different Its lso worth saying I think I'd fel differently bout living part with some men I might have been in relationship, and they might hve about me in the past too....:D

Harry_Powell

lostinrates wrote: »

I don't feel put second, lol, The money is for us, not him, and I'd feel pretty shabby if we lived together and he was not stretched intellectully

I guess that money is just not my lodestone as it is with other people. Each to their own. I know it's a hackneyed cliche' but I really do believe in the "Work to live, not live to work" principle. I suppose that's why I was attracted to MSE; a way to make more of the money we have rather than impacting our lives by scrabbling about to make more.

I appreciate what you're saying about how people in the military have relationships, but according to the BBC, the divorce rate amongst military personnel is double that of civilians. I'd imagine that rates are also higher amongst people who work away all week or have long commutes.

I don't follow your 'intellectually stretched' bit?