And So It Begins.....

crash123

IveSeenTheLight wrote: »

I don't know your specific location and Yorkshire is quite a large area, however....

According the the Land Registry Report
Looking at Yorks & Humber, the average price is £121,200 (Down 4.6% YOY).
Looking at the city of Leeds, the average is £129,617 (Down 3.5% YOY).

Some more breakdowns: -
East Riding of Yorkshire £133,421
North Yorkshire £173,033
South Yorkshire £104,948
West Yorkshire £114,819

So it seems there are a number of areas in Yorkshire where the average is much lower, some even half the price of your £249,000 claim.

Looking at the ONS ASHE results for 2009 (Table 8.7a), the mean male (data historically used in house price comparison) is as follows: -
Yorks & Humber £29,286
Leeds £30,130
East Riding of Yorkshire £31,059
North Yorkshire £32,770
South Yorkshire £28,974
West Yorkshire £30,130

So without considering a 10% deposit, the average multiplier for yourkshire (looking at the North, South, East and West figures)appears to be 4.29

With a 10% deposit of the average house price, the average income multiplier for mortgages in Yorkshire (looking at the North, South, East and West figures)) is 3.86

I've linked the ASHE wage figures and LR report should you want to verify the data.

I am in Yorkshires golden triangle in the spa town of Harrogate.

IveSeenTheLight

crash123 wrote: »

I am in Yorkshires golden triangle in the spa town of Harrogate.

So being in the region of North Yorkshire, the property averages are £173,033.
I've shown the average for Leeds at £129,617 which I understand would be commutable.
Even York would be commutable at an average of £179,052.

According to the ONS in 2009, Harrogate male mean average was £29,371

Here's a three bedroomed terraced house with a fair skelp of a garden for £150k
http://www.rightmove.co.uk/property-for-sale/property-29225113.html

I'm sure there are options that you someone in Harrogate could consider given these averages.

crash123

IveSeenTheLight wrote: »

So being in the region of North Yorkshire, the property averages are £173,033.
I've shown the average for Leeds at £129,617 which I understand would be commutable.
Even York would be commutable at an average of £179,052.

According to the ONS in 2009, Harrogate male mean average was £29,371

Here's a three bedroomed terraced house with a fair skelp of a garden for £150k
http://www.rightmove.co.uk/property-for-sale/property-29225113.html

I'm sure there are options that you someone in Harrogate could consider given these averages.[/QUOTE

Harrogate is nice but we do still have some rough areas. Big garden as it is ex -council house so you may have social tenants near you. This house is near a school with rowdy teenagers. Once you live in Harrogate you wouldn`t want to move to Leeds or York. Some very rough areas.
The averages I quoted were in the local property mag so the estate agents are wrong?

JWF

crash123 wrote: »

The averages I quoted were in the local property mag so the estate agents are wrong?

Not like they have a vested interest in talking up property prices is it??? :rotfl: