Quote:
Originally Posted by Hugh
Also, the elephant in the room that is the relationship between house prices and salary…
In 1983, the average house price was £26,000 and the average salary was £8,528. Therefore, it would take 3 times the average salary to buy the average house.
In 2023, the average house price was £280,000, and the average salary was £33,000, needing 8.5 times the average salary to average house.
In Yorkshire, the current average house price is £240,000, and the average salary is £27,600 - 8.7 the average salary…
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I agree entirely with the above. When I bought my first house, in 1999…..and I was late to the party…..due to partying….very hard, in the nineties.
My house was twice my salary (not including my partners) and I thought it was steep.
Although, I will say there is plentiful housing available, around at about 20% of the Yorkshire average. But nobody wants it.
There is lots of
affordable housing in the U.K. but nobody wants it.
Just saying……..
For the record, i wouldn’t live in these areas either. But …..make the areas better!