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27k salary, I want to buy a house in England
Comments
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The problem with the whole house price debate, where high house/earnings ratios are cited as evidence of unaffordability, is the public perception that wages in the £20k-£30k bracket are considered "decent".
Close to 80% of the UK population earn less the top bracket quoted.
You are not taking into account property investors UK and Foreign.If House prices are too high, then who are buying them ? Why do they keep rising ? They do because lots of people earn the money that is needed to buy these properties.0 -
emsywoo123 wrote: »I clicked on a few of these and each, without fail, required a PhD or some sort of post grad qualification.
Of course they do, and even at the higher end of the scale they're not high salaries considering you've had to spend up to 10 years at university then anything from 2-10 years post-doc experience.
My husband and I are academics. We loved living in London but we engineered a move away as soon as we could as we couldn't afford a house even remotely near our workplaces (I can't commute due to a disability).0 -
Entry level in what? Banking? Being a Doctor?Typical entry level jobs in London pay £30k in my experience, with a 4 years experience you would expect to be on substantially more than that.
The vast majority of jobs do not pay £30k starting salaries, even professional ones like engineering or accountancy.
Yes, there is a higher potential earning in London given time and experience, but you cannot claim 'typical' entry level jobs pay £30k, even with masters-level degrees.0 -
Entry level in what? Banking? Being a Doctor?
The vast majority of jobs do not pay £30k starting salaries, even professional ones like engineering or accountancy.
Yes, there is a higher potential earning in London given time and experience, but you cannot claim 'typical' entry level jobs pay £30k, even with masters-level degrees.
Bang on, thequant is a bit deluded if they think the average entry level is £30k.
Does he think that people that work in shops/pubs/clubs, sweeping the streets, manning the doors all start on £30k PA?
It might be the average starting salary for a decent grad scheme for a professional level role but for anything else? pipedream.
Saying that, I started in London 8 years ago on a very good grad scheme on £26.5k. The starting salary now for the same role is £27k and most grad schemes aside from a select few are pretty similar (outside of law and banking).Thinking critically since 1996....0 -
The vast majority of jobs do not pay £30k starting salaries, even professional ones like engineering or accountancy.
The typical grad salary in the UK is £24k so I find £30k in London to be very reasonable considering the disparity that occurs later on. The market agrees with me: https://targetjobs.co.uk/search/all/focus/ad_vacancy/focus/ad_profile/focus/ad_workexperience?query=london&sort_by=field_ad_vac_closing_date#path=focus/ad_vacancy/region/england-greater-london-5185
He was talking about graduates only, not people out of schoolsomethingcorporate wrote: »Does he think that people that work in shops/pubs/clubs, sweeping the streets, manning the doors all start on £30k PA?Mortgage (Nov 15): £79,950 | Mortgage (May 19): £71,754 | Mortgage (Sep 22): £0
Cashback sites: £900 | £30k in 2016: £30,300 (101%)0 -
Bottom line, OP can't afford London property on his wages alone."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
looknohands wrote: »Don't be so rude, OP salary is UK average.
The problem is not with the OP's earnings it's the housing market and pay gap. -So it is a problem with OP's Earnings?? lol
Though perhaps OP should move out of London as it's going to become very boring once it's filled with overly judgemental people on painfully above average salaries (like yourself i imagine)
The poster was clearly pointing out the reality and sugar coating it for the OP aint going to help either."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
Typical entry level jobs in London pay £30k in my experience, with a 4 years experience you would expect to be on substantially more than that.
The problem with the whole house price debate, where high house/earnings ratios are cited as evidence of unaffordability, is the public perception that wages in the £20k-£30k bracket are considered "decent".
However it is not, it is a poor wage. As pointed in my original post. Plenty of skilled/semi skilled positions pay substantially more than this.
If House prices are too high, then who are buying them ? Why do they keep rising ? They do because lots of people earn the money that is needed to buy these properties.
If you can't afford to buy, then stop blaming high house prices and start asking why do you earn such a low wage and start to rectify it.
What experience is that? I suspect you are living in the sheltered privileged of the banking/IT sector.
Your 'knowledge' is way off the mark for anyone outside those sectors.
Your arrogance only adds fuel to the problem.0 -
Entry level in what? Banking? Being a Doctor?
The vast majority of jobs do not pay £30k starting salaries, even professional ones like engineering or accountancy.
Yes, there is a higher potential earning in London given time and experience, but you cannot claim 'typical' entry level jobs pay £30k, even with masters.
Actually entry level salary for a doctor in England is £22600, £24600 with London weighting, so have to agree with Angie B on this one.
A longstanding bug bear of mine that people still think junior doctors are minted!0 -
UrbanDanceSquad wrote: »I doubt they are many BTL landlords within zone 1 and 2. From what many of us at work can see, the vast majority of people we see in zone 1 and 2 are living in subsidised social housing. Such people are not working yet they occupy the homes within an area where rent and prices are astronomical for the working person?
You do realise that housing benefit sets the bar for rents and house prices? And why are you not questioning why working folk have to travel into London whilst others who don't work are able to live within central London for nowt?
The number living in zones 1 & 2 is tiny compared to the London and the home counties (and even further if you count commuting distance!).
Your misunderstanding is beyond belief. Housing benefit sets the bar for rents? Why? because landlords will make what they can. The problem is so corrupted with vested interests it is misleading to blame one factor. Although the bashing of the most vulnerable and poorest obviously helps justify those who take advantage of them.0
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