58% of properties can be bought by "average income"

moggylover

HAMISH_MCTAVISH wrote: »

No, the median full time wage is £25,800. It's in the ONS link earlier.

Mean is more like £30K.

I still think you need to live in the real world and look at real wages because in many areas of the country those wages would be high end and would not accurately represent any "mean" or "median" wage for the area. Indeed, in many areas, any kind of full-time employment is in very short supply and for many only seasonal jobs exist.

I have never, ever, been impressed or convinced by published "mean or median" average earners. It takes a very large number of low paid workers to balance the very small minority on exceptional incomes.

Graham_Devon

moggylover wrote: »

I still think you need to live in the real world and look at real wages because in many areas of the country those wages would be high end and would not accurately represent any "mean" or "median" wage for the area. Indeed, in many areas, any kind of full-time employment is in very short supply and for many only seasonal jobs exist.

I have never, ever, been impressed or convinced by published "mean or median" average earners. It takes a very large number of low paid workers to balance the very small minority on exceptional incomes.

This is why the local average wage sheet is quite useful.

In my area for instance, I'm sure the average median wage was around £18,000. This makes FAR more sense to me.

However, the average house price in the area is over £180,000.

Go to somewhere I used to live, and the average was is £21,000. BUT, the average house price is just £112,000.

It makes it quite difficult on forums to discuss these sorts of things. Depending on where you live you may find housing pretty easily achieveable, or downright impossible without some kind of windfall.

The one thing that get's me annoyed so often is using inheritances as a way of saying high prices are a good thing. IMO, that is the lowest, most desperate line someone can ever use to try and talk the market up, or say it's all ok.

HAMISH_MCTAVISH

moggylover wrote: »

It takes a very large number of low paid workers to balance the very small minority on exceptional incomes.

Good grief......

Do you understand the difference between median and mean?

Median, the one we are discussing, is £25,800. At that point, 50% of people make above this wage, and 50% of people make below.

50% of the full time workers in the UK earn more than £25,800. That is a fact. It is indisputable.

If you earn less than £25,800 per year, and you are in full time employment, you are by definition a below average earner.

abaxas

Silly question.

Since tax credits are not a benefit, are these included in the wage calculation?

I would assume yes, as the average wage would be produced via tax reciepts.

Graham_Devon

HAMISH_MCTAVISH wrote: »

50% of the full time workers in the UK earn more than £25,800. That is a fact. It is indisputable.

If you earn less than £25,800 per year, and you are in full time employment, you are by definition a below average earner.

Yes, but what is also fact is that a LOT of that population is based in the South East, where wages are higher.

The 50% are not equally dispersed.

You are correct in what you are saying. But it looks no further than the headline statistic. Look further into the statistic and you will start seeing hwo the statistic does not work for stories such as the one you posted.

Cleaver

Are. We. Really. Having. This. Pointless. And. Unsolvable. Debate. Again.

Someone. Please. Shoot. Me.

abaxas

This is a pointless figure.

You could probably find that (via a loan) 99% of cars could be bought with the average wage. That doesnt mean we can all afford to drive M3's or large mercs.

moggylover

HAMISH_MCTAVISH wrote: »

Good grief......

Do you understand the difference between median and mean?

Median, the one we are discussing, is £25,800. At that point, 50% of people make above this wage, and 50% of people make below.

50% of the full time workers in the UK earn more than £25,800. That is a fact. It is indisputable.

If you earn less than £25,800 per year, and you are in full time employment, you are by definition a below average earner.

Good grief! You are even thicker than I thought;)

In this area Median is probably something more like those Graham quotes. The very largest majority of jobs (even some requiring quite a few qualifications) are paid at either minimum wage, or very little above minimum wage. It has improved very slightly in some fields around here: however there is little work and thus competition for jobs and thus lots of employers more than happy to force down wages.

We suffer two fold with house prices. One, we have those that sell up and retire here (not necessarily at retirement) to live the "good life" on smallholdings or run hotels/B&B's. They have more cash than those from the area, and they force up house prices.

We also have a fair number of "holiday cottage" owners who also pay more than is possible for the inhabitants of the area and force house prices up!

You really need to get out and about more and truly look at what is bringing this Country to its' knees Carp wages and high housing costs are never, ever going to be good for a Society or the people who inhabit it.

moggylover

Graham_Devon wrote: »

Yes, but what is also fact is that a LOT of that population is based in the South East, where wages are higher.

The 50% are not equally dispersed.

You are correct in what you are saying. But it looks no further than the headline statistic. Look further into the statistic and you will start seeing hwo the statistic does not work for stories such as the one you posted.

Very well put!:T

Graham_Devon

Cleaver wrote: »

Are. We. Really. Having. This. Pointless. And. Unsolvable. Debate. Again.

Someone. Please. Shoot. Me.

No one's forcing you to, but your here