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Capital Keith

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Everything posted by Capital Keith

  1. For deciles refer to the link on my previous post on this thread. Figures for each region are also available. Althougth not perfect, these figures are a lot better than the wild speculation that has dominated this thread.
  2. All the stats you could ever need are here. I think the occupational split is the most useful. There is a marked difference between professionals and those employed in elementary occupations. If professionals - a fast growing group - cannot afford to buy then there is serious imbalance. Unpicking which groups have ever been ever to be owner-occupiers makes the calculations more difficult. Social housing may be inadequate numbers, but it still takes a huge number of households out of the market. Sorry - when I say here, I mean here: http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=14630 And to summarise: Median Fulltime - about £23,500 Mean fulltime - about £29,300
  3. Have you ever tried to get an estate agent to take down a sign once the property is let? In my experience it is almost impossible. There is no incentive for them to remove their phone number from the side of the road. In blocks like the one in the photo the sign is on shared land so no one acts - if it was right by the new occupier's front door you would see a difference. So, just to spell it out - the presence of a sign does not mean there is still a flat to let. That's why you have those "No, I'm afraid that one has been let, but we do have this one just come on" conversations so regularly.
  4. Perhaps all the houses on the street are not identical. Has anyone bothered to consider that? If the Land Registry figures are not for that house but only for one in the same street then I am not sure it tells us very much. I'm amazed that on a thread rubbishing people's intellect no one has engaged their own brain. Muppetry indeed.
  5. If you get 4 per cent per year wage increase - which you can get by staying in the same position - if you earned £23,000 by 2 years you would rise by £1,874 and the proportion of gross pay on mortgage repayments on £100,000 (at 5.5 per cent) would fall from 30.4 to 28.1 per cent. By the third year it would be 27.1 and by four it would be 26.0. Even at low inflation - assuming you get an inflationary rise - although the debt does linger longer you make good inroads. (Meanwhile who knows what rent will do, could fall, could rise). Of course, at the end of the fixed rate period who knows what the climate would be, but at least some of the debt will have been digested (especially on a repayment). That was my thinking!
  6. If he overpays £400 a month and starts now he will still pay it off in 10 years, or 20 years if he overpays £75. Not including inflation. Plus, since rates seem set to rise, perhaps he was wise to get his fixed rate now. Afterall, £100,000 at 5% costs the same as £80,000 at 8% (or £45,000 at 15%). Good luck - I hope you're very happy - I hear the first two years are the worst.
  7. Oh Realistbear, how far beneath you that is. If you had read the original link you would seen this line: "The UK has retained its place among the world's 10 most competitive economies but China, Russia and Brazil have all fallen down the rankings." This is not falling to the bottom now is it? As for competitiveness, see this fascinating piece by Cambridge geographer Ron Martin: http://www.intelligenceeastmidlands.org.uk...artinpaper1.pdf
  8. Perhaps we don't need these graduates... http://education.guardian.co.uk/universiti...1732330,00.html This link notes the closure of chemistry departments at Sussex and Exeter universities (amongst others). But then again... The UK’s future prosperity will depend upon ensuring that the UK has the skills base to be able to adapt to global changes. The UK workforce must have the skills to take advantage of changes in technology and workers must be able to reskill as the structure of the economy changes – otherwise growth will be slow and groups and areas risk being left behind. Leitch Review – Interim Report (2005, para 1.24) And The outcomes of the Roberts Review (2002, Science and Engineering), the Smith Inquiry (Maths, 2004) and the independent review of physics by Alan Smithers and Pamela Robinson (2005) all suggest that despite increasing graduate numbers rises are not necessarily resulting in the expansion of the types of courses that sit most comfortably with the spirit of policy. The wage premiums earned by science, engineering and maths graduates indicates that employers do recognise the different skills students learn in higher education and the value they represent to their firm. Roberts Review is here: http://www.hm-treasury.gov.uk/documents/en...res_roberts.cfm Surf to the New Earnings Survey to see if you can spot a reason for skilled out-migration.
  9. What you need is the Annual Survey of Hours and Earnings - ASHE. It's here: http://www.statistics.gov.uk/StatBase/Product.asp?vlnk=13101 Gives a whole host of information and regional too. These figures are from table 7.7a. For UK, 2005 Gross annual earnings the mean is: £23,400 (London £36,176) While median is: £18,941 (£26,550) 10 per cent above: £40,544 (£61,157) 10 per cent below: £5,837 (£8,451) Hope that helps!
  10. If, every month, his take home pay is £2,000 and his mortgage repayments are £1,000, and he gets an inflationary (3 per cent) pay rise each year. In five years - again assuming he is on a five year fixed rate deal - his mortgage payments will have fallen from 50 per cent of take home pay to 43 per cent. Not sure the OP counts as a 'want it nower' - he wants to be a homeowner and has decided the time is right having spent a year deliberating. Also depends how old he is - if he is 35 then waiting for 5 years to get a perhaps cheaper house at a perhaps higher interest rate is a hard decision to make. He would clear the mortgage (assuming no overpayments) at 65 rather than at 60. Five years rent free could be useful with the state of pensions as it is! if he is 20 then waiting 5 years might be sensible.
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