Showing posts with label affordability. Show all posts
Showing posts with label affordability. Show all posts

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.