Typical wage £20K. Typical house £150K

CLAPTON

Max_Headroom wrote: »

Fine if you never want babies...

I'm a little confused as to what point you are making.

Basically I'm simply stating an obvious fact... not necessarilly how in my ideal world I would like it, but simply what seems to be what actaully happens in practice.
So comparing a typical house with a single typical wage isn't a realistic comparison.

Now if you want reduce the price of property we need to

-build more houses

-ration mortgages in some way (we used to do this by not allowing single females to get mortgages and only allowing a small part of their salary to be accounted for in affordabilty calcualtions)
(this of course wouldn't increase the supply but would decrease the price.

Interesting that the Sunday Telegraph is running a story about the '27 towns battle to save Green Belt' (i.e. stop houses being built). Conservative spokesman says the (use of green belt) is a shocking betrayal...etc.

PasturesNew

Looking on RM at your area Max, ignoring the one priced at £39,950 that a 'developer' has obviously got half way through and abandoned, the entry point for a 1-bed flat there is £44,950. That's for a 1-bed flat "ready to go" and with parking. That is affordable. However, I always like to look at the 3rd one up, price wise, so the next two are a 2-bed at £55,950 and a 1-bed at £59,950. So not too shabby.

PasturesNew

HAMISH_MCTAVISH wrote: »

20K is not considered a "pretty decent" wage anywhere. It's well below the average median wage of all people, let alone the average median wage of actual house buyers, or the average income of a dual income household.

It is a bl00dy good wage where Max lives.

HAMISH_MCTAVISH

PasturesNew wrote: »

It is a bl00dy good wage where Max lives.

Where's that then....

We can check average income by area easily enough.

And as has been pointed out, a singleton on 20K can easily afford the 45K flat....

A couple on 40K joint can easily afford the 150K house, particularly with a decent deposit after a decade of equity building in their starter flat.

PasturesNew

I had a quick peek, 2-3 bed family homes start a smidge under £100k. One advertised at £100k is a repossession with an £87k offer on it.

PasturesNew

HAMISH_MCTAVISH wrote: »

Where's that then....

We can check average income by area easily enough.

Can't say ... but I'll look up the figures on the spreadsheets I have... unless you have one specific link you want me to use.

HAMISH_MCTAVISH

PasturesNew wrote: »

Can't say ... but I'll look up the figures on the spreadsheets I have... unless you have one specific link you want me to use.

No, any reputed national data source will do.

ONS regional or city series full time male mean would be great (as thats the one the haliwide use), and full time male median for interest.

PasturesNew

From statistics.gov - figures for 2007 (rounded for some privacy)

Median wage for all: £15,900
Mean wage for all: £19,000

Median male wage: £20,000
Mean male wage: £23,300

Median female wage: £13,400
Mean female wage: £16,600

Median full-time wage: £19,400
Mean full-time wage: £23,700

Median male full-time wage: £21,300
Mean male full-time wage: £25,000

Median female full-time wage: £18,300
Mean female full-time wage: £22,800

PasturesNew

HAMISH_MCTAVISH wrote: »

...full time male mean ...and full time male median for interest.

Median male full-time wage: £21,300
Mean male full-time wage: £25,000

HAMISH_MCTAVISH

PasturesNew wrote: »

Median male full-time wage: £21,300
Mean male full-time wage: £25,000

So 50% of male earners earn MORE THAN £21,300. (sort of blows a hole in the 20K is a good wage theory....)

And flats start at 45K, and houses start at under 100K?????

Sorry, I'm not seeing why he's moaning about it.