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Latest Housing Stats.....

HAMISH_MCTAVISH
Posts: 28,592 Forumite


From dclg..... Most are England only, a few are UK wide.
http://www.communities.gov.uk/documents/statistics/pdf/1400509.pdf
Some excerpts.....
• The average declared income for first time buyers buying a property with a mortgage in the UK in 2008 was £41,000. This compares with £62,000 for former owner occupiers (Table 5.5);
• Annual change in house prices had been coming down from 2007 through to Q1 2009 according to all the major house price indices as published by CLG, Land Registry, Halifax and Nationwide but since has levelled out (Chart 5.9);
• On average during 2008 first time buyers had mortgage advances which were 3.25 times their declared income. This compares with 2.94 times for former owner occupiers (Table 5.10);
• First time buyers in the UK during 2008 paid on average 22.7 per cent of their declared income on mortgage payments and had to pay a deposit worth 21.8 per cent of the property price.
This compares with 19.4 per cent of a former owner occupiers income being spent on mortgage payments and former owner occupiers paying an average deposit of 36.6 per cent of the property price (Table 5.11 and Chart 5.12);
• In England during 2008 the lower quartile house price was 6.98 times the lower quartile income
(Table 5.13, Chart 5.14 and Map 5.15);
• Around 7.5 million homeowners had a mortgage in 2007-08 (Table 5.16);
• The average monthly mortgage payment in 2007-08 was £650 per month, the median payment was £547 per month (Table 5.16);
• Fifteen per cent of mortgagors were paying over £1,000 per month (Table 5.16);
• Households whose disposable income was less than £1,000 per month had mortgage payments equivalent to 48 per cent of their median disposable income (Table 5.17);
• The average age of a first time buyer in the UK during 2008 was 32 years (Table 5.18).
http://www.communities.gov.uk/documents/statistics/pdf/1400509.pdf
Some excerpts.....
• The average declared income for first time buyers buying a property with a mortgage in the UK in 2008 was £41,000. This compares with £62,000 for former owner occupiers (Table 5.5);
• Annual change in house prices had been coming down from 2007 through to Q1 2009 according to all the major house price indices as published by CLG, Land Registry, Halifax and Nationwide but since has levelled out (Chart 5.9);
• On average during 2008 first time buyers had mortgage advances which were 3.25 times their declared income. This compares with 2.94 times for former owner occupiers (Table 5.10);
• First time buyers in the UK during 2008 paid on average 22.7 per cent of their declared income on mortgage payments and had to pay a deposit worth 21.8 per cent of the property price.
This compares with 19.4 per cent of a former owner occupiers income being spent on mortgage payments and former owner occupiers paying an average deposit of 36.6 per cent of the property price (Table 5.11 and Chart 5.12);
• In England during 2008 the lower quartile house price was 6.98 times the lower quartile income
(Table 5.13, Chart 5.14 and Map 5.15);
• Around 7.5 million homeowners had a mortgage in 2007-08 (Table 5.16);
• The average monthly mortgage payment in 2007-08 was £650 per month, the median payment was £547 per month (Table 5.16);
• Fifteen per cent of mortgagors were paying over £1,000 per month (Table 5.16);
• Households whose disposable income was less than £1,000 per month had mortgage payments equivalent to 48 per cent of their median disposable income (Table 5.17);
• The average age of a first time buyer in the UK during 2008 was 32 years (Table 5.18).
“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
0
Comments
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Link, Hamish?0
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“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I wish you'd tell us more about Aberdeen. Its been a while.0
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ruggedtoast wrote: »I wish you'd tell us more about Aberdeen. Its been a while.
It's been cold, -5c a couple of days ago.
Not too bad just now mind you, sun is out, probably about 2c now0 -
It's been cold, -5c a couple of days ago.
Not too bad just now mind you, sun is out, probably about 2c now
Wow. In these tough times where the rest of the country has suffered drops of between 3 and 5 degrees in the last two days, somehow Aberdeen temperatures have shot up by 7 degrees. Amazing! Surely this can't be sustainable?0 -
So affordability is not a problem now - hence the bounce? But what about when unemployment rises further as govt spending is reigned back and interest rates increase?I think....0
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Wow. In these tough times where the rest of the country has suffered drops of between 3 and 5 degrees in the last two days, somehow Aberdeen temperatures have shot up by 7 degrees. Amazing! Surely this can't be sustainable?
Everyone knows Aberdeen has it's own little climate bubble, to match it's economic and housing bubbles.
Aberdeen is insulated from the rest of the UK's climate woes.
Probably something to do with the reflectivity of the streets paved with gold.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
So affordability is not a problem now - hence the bounce? But what about when unemployment rises further as govt spending is reigned back and interest rates increase?
Unemployment will not rise to a high enough level to impact housing, not with the help that is available this time around which wasn't last time.
Rates won't rise significantly for years, certainly not until the economy is growing again. And for that to happen, lending has to increase. When lending increases, bank competition will resum, margins will decrease, and people will end up paying similar mortgage payments.
Most people paid around 5% in 2007. Most people still pay around 5% today. The future will be little different.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
these were quite interesting -• In England during 2008 the lower quartile house price was 6.98 times the lower quartile income (Table 5.13, Chart 5.14 and Map 5.15);• On average during 2008 first time buyers had mortgage advances which were 3.25 times their declared income. This compares with 2.94 times for former owner occupiers (Table 5.10);• First time buyers in the UK during 2008 paid on average 22.7 per cent of their declared income on mortgage payments and had to pay a deposit worth 21.8 per cent of the property price.0
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Declared income and actual income, aren't always the same thing Chuckster0
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