Mainstream media article says it's not lending, its prices.

adr0ck

drc wrote: »

If people aren't going to have kids (in your scenario the second income earner would be working just to pay for childcare) then where will the younger generation come from that you are hoping are going to pay for your [STRIKE]overpriced[/STRIKE] house/pension?

doesn't look like you bothered to read my posts

i've got an idea - read them and then comment on them

geneer

IveSeenTheLight wrote: »

Yep.

It seems I've also got a sex pest stalker from Edinburgh who dreams of me becoming one of his "gals"

Pity like most things in his life, it's just a fantasy and never to become a reality

Ah yes. You did mention it before.
It was that time you were compelled to repeatedly point out that you had a wife and kids, were quite comfortable with your sexuality and that you did not like homosexuality or homosexuals.

Repeatedly.

Mrs_Arcanum

3 Factors

1 Average "local" wage.
2. Average "local" house prices.
3. Work availability.

Back in October the household income in Oxfordshire needed to be £70,000 to afford the average priced property. Based on a 3.5 X salary & a 90% mortgage. The average wage at the time was £23,400.

So local averages need to match local prices and assume there are enough jobs paying an average wage to both adults. A rare occurrence surely.

Percy1983

Thats exact the point, like wise many on here point out to me that average prices around me in Oldham are low, but so is the average wage.

I do also think if the average wage was to only include 'normal' wages it would be much lower.

ukcarper

Percy1983 wrote: »

Thats exact the point, like wise many on here point out to me that average prices around me in Oldham are low, but so is the average wage.

I do also think if the average wage was to only include 'normal' wages it would be much lower.

According to average wage in Oldham is £21.5k (ONS) and average house price is £94k (Land Reg) Average terrace is just over £66k and median wage is £18k, so not to bad really.

What do you mean normal wage

Percy1983

ukcarper wrote: »

According to average wage in Oldham is £21.5k (ONS) and average house price is £94k (Land Reg) Average terrace is just over £66k and median wage is £18k, so not to bad really.

What do you mean normal wage

By all means Oldham is still more affordable than many areas, with that how many of you would want to come and live here?

By normal wages I mean exclude the bankers and CEOs etc, the ones the ones for get paid 20x+ more the average worker I would say, its not an exact science but I hope you know what I mean.

ukcarper

Percy1983 wrote: »

By all means Oldham is still more affordable than many areas, with that how many of you would want to come and live here?

By normal wages I mean exclude the bankers and CEOs etc, the ones the ones for get paid 20x+ more the average worker I would say, its not an exact science but I hope you know what I mean.

I see what you mean and you can see how they skew the figures when you compare median £18k to mean £21.5k. I would say median is the best figure to use but it should also be full time not all, as you wouldn’t really expect to be able to buy a house working part time. Its people like Graham who have the real problem where house prices are pushed up by holiday and second home owners.

Percy1983

By all means there is many things to effect an area, as it is if you get the postcodes of the cheap houses around me and look at them on the police.uk website you soon realise why they are cheap.

As I say its all very well saying I could buy 2 bed terrace for £50k here in oldham, but there wouldn't be enough room and its not an area you would want to live in, if anything I do have an advantage as many would just write off the whole town where I have a good local knowledge of which are the 'nicer' areas. By all means I have a friend who has moved to one of the nice areas and paid £150k for the privilege.

ukcarper

Percy1983 wrote: »

By all means there is many things to effect an area, as it is if you get the postcodes of the cheap houses around me and look at them on the police.uk website you soon realise why they are cheap.

As I say its all very well saying I could buy 2 bed terrace for £50k here in oldham, but there wouldn't be enough room and its not an area you would want to live in, if anything I do have an advantage as many would just write off the whole town where I have a good local knowledge of which are the 'nicer' areas. By all means I have a friend who has moved to one of the nice areas and paid £150k for the privilege.

Median full time pay Oldham £22120 x 4 = £88,400 so £98k with 10% deposit
30% percentile £17,196 x 4 =£68,784 so £76k with 10% deposit.

On rightmove there are over 800 houses within 3 miles of Oldham under £80k and over 1000 under £100k are you saying they are all in undesirable areas.

ahamaton

Has anybody heard of this, you can find the website by googling: The 3+1 Plan, by Brett Alegre-Wood
I am reading the guys book at the moment and it does seem very interesting. However, want to make sure I am not getting sucked in by property !!!!!!. There is an underlying premise that property prices will rise which is the bit that makes me nervous. However, it is with a balanced realism that this is a trend over a long term and that prices can and will drop at points. It also acknowledges the risks of over borrowing and projecting the full costs up front. However, property could obviously be a big investment or a big mistake if approached unwisely which is a mistake cleverer people than I have made before. I'm not expecting anybody to get out a crystal ball or make a decision for me and I do expect to take an element of risk if investing in property but can I ask if any of you hear alarm bells ring when you look through this guys site or if you know anything about the guy?