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NewBuild Homebuy schemes in London - actually any help to first time buyers?
Comments
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the_flying_pig wrote: »Yeah, I dunno. The median full-time wage is £33k, probably best to leave it at that. This figure no doubt misses out the very lowest earners such as the immigrant cleaners who are on £5 an hour part-time [often cash in hand] just as it does some of the very highest earners, such as those city folk who aren't taxed in the normal way.
The average London pwoperdee price is circa £300k. Go figure.
With about 60% owner occupiers in London, this would suggest that most only consider buying when on or around average wage, this would mean that those on the average wage would be looking at properties at below average prices. So a single FTB on £33k would be looking at a property around £135k and there are quite a few available.0 -
I lived just outside London in the early 70s and 3x average income didn’t get you a property where I lived let alone in London itself. I accept it is even harder to buy property in London now but I don’t think you could ever buy property in London at 3 x Average earnings.
Average price of flat in London £305k 3x£33k= £99k
When was property a third of what it is now in real terms?0 -
the_flying_pig wrote: »Yeah, I dunno. The median full-time wage is £33k, probably best to leave it at that. This figure no doubt misses out the very lowest earners such as the immigrant cleaners who are on £5 an hour part-time [often cash in hand] just as it does some of the very highest earners, such as those city folk who aren't taxed in the normal way.
The average London pwoperdee price is circa £300k. Go figure.
It is possible to get somewhere to live considerably less than this, mind. And not in a hell hole before you throw that back.0 -
It does appear that quite a few that say it impossible to buy in london, do not seem to know that "South of The River" exists.0
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It does appear that quite a few that say it impossible to buy in london, do not seem to know that "South of The River" exists.
Never lived north of the river myself. Would have said the east/west divide in London is more obvious in terms of price and desirability.They are an EYESORES!!!!0 -
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