London equivalent salary

Marcon

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Have a look at https://www.plumplot.co.uk/London-salary-and-unemployment.html for a bit of a reality check.

sultan123

Marcon said:

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Have a look at https://www.plumplot.co.uk/London-salary-and-unemployment.html for a bit of a reality check.

Thanks very useful avg salary 53. Is there similar stats for northwest england?

Jillanddy

sultan123 said:

Marcon said:

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Have a look at https://www.plumplot.co.uk/London-salary-and-unemployment.html for a bit of a reality check.

Thanks very useful avg salary 53. Is there similar stats for northwest england?

Because Alderley Edge, or a Cumbrian lakeside are so very similar in all respects to inner city Liverpool or Birkenhead! Do you have any idea at all how large "northwest England" is or how massive the range of costs are there?

An average salary anywhere, including London, doesn't mean much. An average is simply maths. It doesn't mean £53k is a "good salary" and nor does is mean that you could afford whatever it is you want to buy on £53k. The only thing is represents is estimated total salaried income in London divided by the estimated number of people earning salaries!

I may be wrong, but when Marcon suggested that as a "reality check", I don't believe that he was suggesting that £53k was a "good" (or a "bad") salary. I think he may have been suggesting that your original premises are flawed in trying to work out what a "good salary" anywhere is. 

Marcon

Jillanddy said:

sultan123 said:

Marcon said:

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Have a look at https://www.plumplot.co.uk/London-salary-and-unemployment.html for a bit of a reality check.

Thanks very useful avg salary 53. Is there similar stats for northwest england?

Because Alderley Edge, or a Cumbrian lakeside are so very similar in all respects to inner city Liverpool or Birkenhead! Do you have any idea at all how large "northwest England" is or how massive the range of costs are there?

An average salary anywhere, including London, doesn't mean much. An average is simply maths. It doesn't mean £53k is a "good salary" and nor does is mean that you could afford whatever it is you want to buy on £53k. The only thing is represents is estimated total salaried income in London divided by the estimated number of people earning salaries!

I may be wrong, but when Marcon suggested that as a "reality check", I don't believe that he was suggesting that £53k was a "good" (or a "bad") salary. I think he may have been suggesting that your original premises are flawed in trying to work out what a "good salary" anywhere is. 

You're spot on - exactly the point I was trying to make. 

I suspect one of the major determinants will be the cost of housing. If OP gets an accurate assessment of the amount of equity in their current property, and then subtracts selling/moving costs, a look at Zoopla or RightMove should give them a good indication of what they could afford to buy in the London area and how much extra they might need to borrow if there is a big gap between where they are now and where they'd like to be.

sultan123

Marcon said:

Jillanddy said:

sultan123 said:

Marcon said:

sultan123 said:

Edi81 said:

70k in London is still a good salary.

Really? Thought it might be low if sole earner in family

Have a look at https://www.plumplot.co.uk/London-salary-and-unemployment.html for a bit of a reality check.

Thanks very useful avg salary 53. Is there similar stats for northwest england?

Because Alderley Edge, or a Cumbrian lakeside are so very similar in all respects to inner city Liverpool or Birkenhead! Do you have any idea at all how large "northwest England" is or how massive the range of costs are there?

An average salary anywhere, including London, doesn't mean much. An average is simply maths. It doesn't mean £53k is a "good salary" and nor does is mean that you could afford whatever it is you want to buy on £53k. The only thing is represents is estimated total salaried income in London divided by the estimated number of people earning salaries!

I may be wrong, but when Marcon suggested that as a "reality check", I don't believe that he was suggesting that £53k was a "good" (or a "bad") salary. I think he may have been suggesting that your original premises are flawed in trying to work out what a "good salary" anywhere is. 

You're spot on - exactly the point I was trying to make. 

I suspect one of the major determinants will be the cost of housing. If OP gets an accurate assessment of the amount of equity in their current property, and then subtracts selling/moving costs, a look at Zoopla or RightMove should give them a good indication of what they could afford to buy in the London area and how much extra they might need to borrow if there is a big gap between where they are now and where they'd like to be.

Do banks include car allowance as overall salary when giving mortgage offers