Friday, March 29, 2024

Housing inflation is nuts


Hat tip to my "Facebook Friend" Jenny Schramm.

*Just had a Quick Look and calculation, average wage was around £100 a year, meaning the house price was 5x the average wage at the time. Currently the average wage is £28,000 a year and a three bedroom house on Denby Rd Stockport is worth around £400,000 which is 14x the average wage.*

People have asked her when this poster dates from which she has not answered but the best guesses are sometime in the 1930s.

Why is it that I was one of the few to work in my North London housing team,who actually lived in North London? The reason was I was able to buy a one bedroom flat in 1989 when housing was relatively affordable. There is no way that the majority of my colleagues could afford to buy a similar property on their current wages in London. Nevermind a 3 bed semi. 

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