So how much did it cost...

Dunroamin

ruggedtoast wrote: »

20% is more usual though I concede you can get a higher LTV if the fundamentals are right.

Whar did you get for 180k by the way?

I can't answer for FTBFun but there are masses of flats and houses in London for far less than £180k.

ukcarper

ruggedtoast wrote: »

The median salary in the SE of England is nothing like the £30k per annum you seem to have decided it is.

The average salary for London, is about £30k.

The mean salary in the UK is about £26,000, I would generally not assume that people don't understand what an average is, but on the basis of the comments in this thread nothing would surprise me. The £26,000 includes the highest paid people in the country, including those who have worked all their lives.

http://www.telegraph.co.uk/finance/economics/8909797/Average-salary-falls-3pc-in-face-of-high-inflation.html

The median household income in the UK is less than £22,000 per year and falling in real terms. That means most households have less than £22,000 per year coming in.

http://www.ifs.org.uk/comms/comm124.pdf

Furthermore, from the same report:



A house costs £160,000 to £250,000 depending on where you live.

There is no realistic prospect of today's generation acquiring the same assets as the baby boomers did regardless of how hard they work.

I understand that most of you seem to believe in eugenics, and that the 'poor' should volunteer not to procreate. Fortunately this sad belief is not shared by many real people in the UK so incomes will have to continue to be part funded by the state, for a resentful and growing underclass of younger working poor.

On the other hand we could just build more houses, redistribute some of the wealth back down the pyramid and means test benefits for retiring boomers.

Median full time male south east England ASHE 2011 £32,623 Median full time £29,330.

Average price of flat south east Land Reg £129k terraced house £163k

pinkteapot

Percy1983 wrote: »

Are any of these 'free' iPhone contracts less than £40 a month, doubt I would get one on my £7 a month deal.

£31 a month is the cheapest.

ukcarper

ruggedtoast wrote: »

Its been pointed out to you numerous times now that its impossible for the majority of younger people to do either.

No it hasn't it's been pointed out that you can't have kids rent a house and save and I wouldn't argue with that. But it was like that in the 70s explain how it was easier then taking note that the ratio of houses prices to earning was the same.

ruggedtoast

ukcarper wrote: »

Median full time male south east England ASHE 2011 £32,623 Median full time £29,330.

Average price of flat south east Land Reg £129k terraced house £163k

Could you translate that into English? And put the source as well please, as both of your two medians are higher than the mean reported in the Telegraph article, and higher than the median household income as reported by the Institute of Fiscal Studies.

FTBFun

ruggedtoast wrote: »

20% is more usual though I concede you can get a higher LTV if the fundamentals are right.

Whar did you get for 180k by the way?

A 1 bedroom flat, with parking, in zone 2.

ukcarper

ruggedtoast wrote: »

Could you translate that into English? And put the source as well please, as both of your two medians are higher than the mean reported in the Telegraph article, and higher than the median household income as reported by the Institute of Fiscal Studies.

ASHE is the Annual survey of earning produced by the ONS

http://www.ons.gov.uk/ons/datasets-and-tables/index.html?pageSize=50&sortBy=none&sortDirection=none&newquery=ashe+2011&content-type=Reference+table&content-type=Dataset

Table 8 probably best

Graham_Devon

ukcarper wrote: »

Median full time male south east England ASHE 2011 £32,623 Median full time £29,330.

Average price of flat south east Land Reg £129k terraced house £163k

The thing is, it's not just male who work full time who buy houses, and were pretty equally split between male and female in this country.

Including females alters your figures quite dramatically...

30.5k Mean and 23.5k Median is the average across both male and female and including all jobs.

Using the male full time value for full time only distorts things somewhat. Afterall, we don't change the average price of the house for females...

Looking at my area, using the male full time median gives you a figure 8k more (or in this case, 26% higher) than the real average. That's quite some distortion.

ukcarper

Graham_Devon wrote: »

The thing is, it's not just male who work full time who buy houses, and were pretty equally split between male and female in this country.

Including females alters your figures quite dramatically...

30.5k Mean and 23.5k Median is the average across both male and female and including all jobs.

Using the male full time value for full time only distorts things somewhat. Afterall, we don't change the average price of the house for females...

Looking at my area, using the male full time median gives you a figure 8k more (or in this case, 26% higher) than the real average. That's quite some distortion.

Median Full time for all is £26,244

Average all england price for terraced England and Wales £122k

Of course if they were a couple with out kids they would have 2 salaries if one was male on fulltime and one a woman working part time their median combined income would be £37k.

what do you mean real average

Graham_Devon

ukcarper wrote: »

Median Full time for all is £26,244

Average all england price for terraced England and Wales £122k

Of course if they were a couple with out kids they would have 2 salaries if one was male on fulltime and one a woman working part time their median combined income would be £37k.

what do you mean real average

Real average is the average, across all workers, male, or female, across all jobs.

If someone can only get 2 part time jobs (thats a reality right now) there is no point excluding from the statistics. If someone is female (there are many, thankfully) there is no point excluding them from the statistics.

We all need homes. It's not just full time males who need somewhere to live.

Excluding them DOES give you a better set of figures, but it's not realistic.