Where Can You Afford to Buy a House? Interactive Map

Mistermeaner

median price is pretty meaningless. I dont need the medianm house, I need a house

cells

carslet wrote: »

Very depressing for people, who work very hard and will never be able to afford a house of their own.

but even 30 years ago when prices were a lot cheaper. about 50% of the population couldn't afford their own homes. ~30% were in state rented homes and ~20% in private rented homes.

if you want to maximize people owning their own homes you need to sell off a lot more council homes to owner occupiers some 3+ million council homes could be sold to owners and the process would up the owner proportion towards 75-80% of the stock

Penguin_Biscuit

ruggedtoast wrote: »

This just serves to show what a complete lotto win housing has been for the favoured generation.

I am on holiday in Europe at the moment.

I tell you, it just makes me so angry to see boomers and euro boomers living it up in Club Med all inclusive while hard working Gen X families have to fight with booking.com to afford a weeks half board 3 star in Torremelinos, eating the dolmades of resentment from the rude supermarket, on plastic furniture every evening.

Then by the time the boomers charter flight has landed they've made another ten grand on their houses. It's so unfair.

So you see the population (and the money held) as grouping ''horizontally'' (ie in generations), rather than ''vertically'' (ie in families)?

martinsurrey

ruggedtoast wrote: »

I tell you, it just makes me so angry to see boomers and euro boomers living it up in Club Med all inclusive while hard working Gen X families have to fight with booking.com to afford a weeks half board 3 star in Torremelinos, eating the dolmades of resentment from the rude supermarket, on plastic furniture every evening.

My boomer mother sat on plastic furniture and ate tins of beans in her house in the mid to late 70's to afford to buy, she had no phone, no TV, no mobile phone, she would have dreamed of going on a weeks half board, her idea of a holiday was a day trip to the beach.

Problem is a lot of Gen X (which I am a part of), not all, but a large part, expect to be able to go out on benders every Friday night, go to the races on Saturday, pub lunch on Sunday, meals out in the week, latest tech when its released, holidays abroad every year AND afford a house...

A lot of my friends really get on my goat when they say how "lucky" I am to own a house, I'm not lucky, I worked hard, saved hard, and didn't splash my cash on junk.

[Deleted User]

martinsurrey wrote: »

Problem is a lot of Gen X (which I am a part of)

Are you sure you mean Gen-X? That was 60s-early 80s 'kids'. The youngest Gen-Xs should be in their 30s already.

It's Gen-Y/Millennials that are effected by this, mid-80s to 00s births.

You'll find that many Gen-Y's are not splurging it all all-inclusive ibiza holidays and iPhone 6's .. but house prices are really just too high in many areas of country.

We've not even looked at the further impact on families who want to 'move up the ladder' and not just live in tiny starter homes.

danothy

ukcarper wrote: »

No but time consuming for whole country going back 20 years in your example over 6000 (312 x 20 )entries in one area to be looked up and entered.

If you think that someone has gone through the land registry data sale by sale to calculate the median sale price in each postcode for each year then you have fundamentally misunderstood how this is done. The process is automated. From the data file in a handful of seconds I pulled all the 312 entries for N22 in the year to date, automatically, and calculated the mean price. That's one operation, not 312. Set up a loop to do that for each of the 20 years and that's one big operation that takes 20 times a few seconds. Set up a loop to do that for each postcode prefix and you're only taking as many minutes as postcode regions. The actual calculation of the median prices probably took less time than the meeting to choose the salary multiplier colours on the map.

ukcarper wrote: »

Then median of sold prices in any year is fairy crude.

The median is the 50% threshold, it's as good as any other threshold.

[Deleted User]

Now it would be awesome if there was a box-plot graphed for every area..

This map might be better if it removed the assumption that the person wants to buy the 'median' house price. Give us the ability to filter by the quantile and it becomes a lot more interesting.

It'd also be interesting to see the house price distribution in areas. We need box plots!

ukcarper

danothy wrote: »

If you think that someone has gone through the land registry data sale by sale to calculate the median sale price in each postcode for each year then you have fundamentally misunderstood how this is done. The process is automated. From the data file in a handful of seconds I pulled all the 312 entries for N22 in the year to date, automatically, and calculated the mean price. That's one operation, not 312. Set up a loop to do that for each of the 20 years and that's one big operation that takes 20 times a few seconds. Set up a loop to do that for each postcode prefix and you're only taking as many minutes as postcode regions. The actual calculation of the median prices probably took less time than the meeting to choose the salary multiplier colours on the map.



The median is the 50% threshold, it's as good as any other threshold.

I didn't realise you could pull data from website I suppose I should have. i don't think it's a very good indication of affordability as my example shows as it is very dependent on the property mix in that postcode.

martinsurrey

ringo_24601 wrote: »

Are you sure you mean Gen-X? That was 60s-early 80s 'kids'. The youngest Gen-Xs should be in their 30s already.

It's Gen-Y/Millennials that are effected by this, mid-80s to 00s births.

You'll find that many Gen-Y's are not splurging it all all-inclusive ibiza holidays and iPhone 6's .. but house prices are really just too high in many areas of country.

We've not even looked at the further impact on families who want to 'move up the ladder' and not just live in tiny starter homes.

Sorry, that makes me GenY (just) and my wife definitely (5 years younger than I), my point stands.

I cannot log onto face book without seeing a bottle of Prosecco and a £30 cream tea, from my friends who complain they cannot afford to move out of their parents house (they are in their mid 20's).

Edit

dont confuse the above with me thinking house prices are fine, they are far too high, and my firm belief its caused by a lack of building, but a lot of people have unrealistic expectations.

danothy

ukcarper wrote: »

i don't think it's a very good indication of affordability as my example shows as it is very dependent on the property mix in that postcode.

It shows an area as unaffordable if 50% or more of the properties sold in it in a given year went for more than four times your salary. The "mix" of properties in an area might mean that there's a really cheap property in an otherwise expensive area that is within reach, but if you want to know which areas you could afford the cheapest property in all you have to do is look at the distributions. I think it's fair to say that being able to afford the cheapest property in an area isn't exactly the same as being able to afford to live there generally though, so as I said, the 50% threshold is as good as any other in that respect.