7x average income, topped out

ukcarper

In the early 70s with my wife we bought our first property with the maximum mortgage we could get at the time. The fact that now we could borrow considerably more on same earnings must have had an significant impact on prices.

lisyloo

wolvoman wrote: »

If the gender pay gap is reducing the surely the figures are becoming MORE relevant?

Why?
The comparison of full time male income to house prices completely excludes women.


I fuly understand it's the only available long term set of data.

lisyloo

AG47 wrote: »

His argument is ridiculous

Because women are In The workplace now house prices should be double

Care to explain why?
Just making assertions is pointless.

Cakeguts

I hate these silly nonsense reports that only focus on one part of the country. The South East is not the whole of the UK. There are parts of the UK where you don't need even 7 times the national minimum wage in order to buy a house.

Gwendo40

Tarambor wrote: »

Yet next week my 23 year old son and his girlfriend complete on a 3 bed semi detached house for just over 3x joint income.

Take London and the South East out of the equation and the picture is a lot better.

How long is their mortgage term?

andrewf75

lisyloo wrote: »

I think it should be household income, where that was often 1 perons in the 60's and would more likely be 2 now.

Agree, but needs to take into account the childcare costs that allow both parents to work.

ukcarper

Average house prices vary considerably across country in North East they are £133k and in London they are £486k with other regions at various points in between.

kabayiri

Thing is...a third of grads head to London now.

If these are usually the higher earners, it just further centralises the wealth in the SE.

As people have pointed out, there are much more reasonable house prices around the country...if we can sort out the distribution of quality jobs a bit better.

lisyloo

if we can sort out the distribution of quality jobs a bit better

Personally I think it's got worse and even more centralised in recent years (we've had to move to working in London) although I think it's a great idea.


My recent employers have felt the need to be in London and have actually shut down regional offices.


I work in IT and there is some ability to work from home but it's limited as it is harder to collaborate remotely.

ukcarper

lisyloo wrote: »

Personally I think it's got worse and even more centralised in recent years (we've had to move to working in London) although I think it's a great idea.

I think despite the efforts of a few companies it is getting worse and considering the property prices and the strain on the infrastructure in London and surrounding areas it would make sense to distribute the jobs more evenly around country but to be honest I don't see anything changing anytime soon.