We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Debate House Prices


In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The house 'earnings' award goes to ....

12467

Comments

  • Windofchange
    Windofchange Posts: 1,172 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Ok, well there you go. Enjoy.
  • economic
    economic Posts: 3,002 Forumite
    ukcarper wrote: »
    In 2013 22% of households in London had a total wealth of over £1m, that's everything including pension pot.

    thanks so for me im not even in the top 20% of london. maybe top 30%. this shows there are a lot of people with money and property prices as they are should not be surprising.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    economic wrote: »
    thanks so for me im not even in the top 20% of london. maybe top 30%. this shows there are a lot of people with money and property prices as they are should not be surprising.
    I suppose it's mainly property prices, I wonder how many people sitting in expensive properties could afford them now.
  • economic
    economic Posts: 3,002 Forumite
    ukcarper wrote: »
    I suppose it's mainly property prices, I wonder how many people sitting in expensive properties could afford them now.

    my parents are and have been average earners and they have enough savings/investments to buy their own home outright. so i imagine there are more like them.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    economic wrote: »
    my parents are and have been average earners and they have enough savings/investments to buy their own home outright. so i imagine there are more like them.
    I wouldn't have though so, I've been an average earner and I haven't and most of the people I know haven't.
  • ukcarper
    ukcarper Posts: 17,337 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    According to ONS aggregate household wealth in UK breaks down to 38% pension 37% property 14% financial and 12% physical.
  • economic
    economic Posts: 3,002 Forumite
    ukcarper wrote: »
    According to ONS aggregate household wealth in UK breaks down to 38% pension 37% property 14% financial and 12% physical.

    ok so a lot in property and pension.
  • fun4everyone
    fun4everyone Posts: 2,369 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    London mostly property wealth, but they really are rolling in it. Almost 1 in 30 people in London are dollar millionaires now, you are close to that mark Economic.
  • economic
    economic Posts: 3,002 Forumite
    fun4everyone wrote: »
    London mostly property wealth, but they really are rolling in it. Almost 1 in 30 people in London are dollar millionaires now, you are close to that mark Economic.

    1 in 30 people or households?
  • fun4everyone
    fun4everyone Posts: 2,369 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Photogenic
    economic wrote: »
    1 in 30 people or households?

    People. Article a few years old but property has gone up since then but of course the pound has heavily weakened also.

    https://www.theguardian.com/cities/2014/aug/05/london-millionaire-capital-world-city-new-york-tokyo

    Substantial difference over time though. You could have been a dollar millionaire with a net worth of £500,000 in 2007. Nowadays you need over £800,000.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 352.3K Banking & Borrowing
  • 253.6K Reduce Debt & Boost Income
  • 454.3K Spending & Discounts
  • 245.3K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 177.5K Life & Family
  • 259.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 37.7K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture