Jump to content
House Price Crash Forum
Sign in to follow this  
HAMISH_MCTAVISH

Average Household Discretionary Income Up By 25%...

Recommended Posts

The average household’s discretionary income has risen by 25 per cent to £1075 over the last 12 months but consumers remain cautious about splashing out in stores.

Average monthly mortgage repayments down 20 per cent on last year have helped bring fixed monthly household costs down by eight per cent in the period.

Families in work have more than £200 per month more to spend, Ernst & Young’s Annual Discretionary Income Study showed.

But Ernst & Young retail director Jason Gordon said that although households may have more money each month, the decline in house prices over the last year has “significantly eroded their overall wealthâ€.

He warned: “Alongside falling house prices, the bleak economic climate and fears of job losses have had a devastating impact on consumer confidence.

“Consequently, many consumers are using their increased monthly spending power to repair savings balances and pay off credit cards and other debts. These gains are certainly not being spent freely on the high street.â€

Gordon expected retailers’ performance to remain sharply polarised. While value retailers, young fashion specialists and grocers have held up during the recession, retailers of discretionary goods such as jewellery or those closely tied to the housing market, such as electricals and furniture groups, have suffered. “We expect trading in these sectors to remain tough in the second half of 2009, Gordon said.

http://www.retail-week.com/data/households...5003689.article

Discretionary income up by 25% to over £1000 per month.......

Falling house prices destroying net wealth and consumer confidence still down due to recession..... Housing market related sales still down, house price crash continues to negatively effect real economy.

Share this post


Link to post
Share on other sites
Guest มร หล&#3
http://www.retail-week.com/data/households...5003689.article

Discretionary income up by 25% to over £1000 per month.......

Falling house prices destroying net wealth and consumer confidence still down due to recession..... Housing market related sales still down, house price crash continues to negatively effect real economy.

Umm Hamish,

"Families in work have more than £200 per month more to spend, Ernst & Young’s Annual Discretionary Income Study showed."

Share this post


Link to post
Share on other sites

I have to admit I'm much better off than ever. Mortgage down £300+, payrise (2.5%), bonus (7%), wife on maternity allowance, extra child benefit and tax credits.

Not spending it though, paying off the mortgage like there's no tomorrow. Am 1-2 months away from savings = mortgage so we aim to clear the debt in around 12-18 months and be left with about £20k savings for a rainy day.

Share this post


Link to post
Share on other sites
I have to admit I'm much better off than ever. Mortgage down £300+, payrise (2.5%), bonus (7%), wife on maternity allowance, extra child benefit and tax credits.

Not spending it though, paying off the mortgage like there's no tomorrow. Am 1-2 months away from savings = mortgage so we aim to clear the debt in around 12-18 months and be left with about £20k savings for a rainy day.

glad to see how my tax contributions from my business help you keep your lifestyle above and beyond what it should be.

Share this post


Link to post
Share on other sites

I wish I had a job that hasn`t been affected by the recession.

I wish I`d taken out a big mortgage, so I could feel better off now.

I wish I hadn`t got savings, so I wouldn`t have to worry about poor returns.

Nah, on second thoughts, £500+ going out every month, with no savings to speak of and the worry about losing my job, you can keep it. And no, I`m not going to blow my savings on property. The recovery is happening (apparently), so I`ll be earning much more soon, I`ll leave the property speculation and mortgage paying for others to deal with.

Share this post


Link to post
Share on other sites
Me too.

House worth more than when I bought it, a big decrease in cost of living, and an increase in income.

Congratulations Hamish, you really are "special" :lol:

Share this post


Link to post
Share on other sites
:lol:

Bitter, much???

The headline would be more realistic if it said ' Average Household (Who are on a tracker mortgage) Discretionary Income Up By 25%'.

What % of UK families are one this type of mortgage? They absolutely DO NOT make up the 'Average Family'.

Share this post


Link to post
Share on other sites

which is good as its internet based, its very competitive and has a high turnover. the amount i pay in tax is quite a lot and i was happy to do so until recently, when i realised i could move my registered office to the IoM and leave my money in my pocket and not support this crap.

i had no intentions of this 8 years ago when it was founded and was willing to contribute to social services, medical, security etc, but not to this. this has given me the drive i was looking for. its something ive been planning for a few weeks now and am due to visit IoM in the next two weeks to begin the process.

bye bye free lunch.....

enjoy your crunch.

Share this post


Link to post
Share on other sites
The headline would be more realistic if it said ' Average Household (Who are on a tracker mortgage) Discretionary Income Up By 25%'.

What % of UK families are one this type of mortgage? They absolutely DO NOT make up the 'Average Family'.

No, it doesn't work that way.

An average is an average, it includes those with and wothout tracker mortgages.

Other news reports this morning have included other savings, costs of energy are lower than this time last year for one, as are many consumer goods prices.

Share this post


Link to post
Share on other sites
Me too.

House worth more than when I bought it, a big decrease in cost of living, and an increase in income.

Still, doesn't make you any less of a monumental loser. Shame.

Share this post


Link to post
Share on other sites
No, it doesn't work that way.

An average is an average, it includes those with and wothout tracker mortgages.

Other news reports this morning have included other savings, costs of energy are lower than this time last year for one, as are many consumer goods prices.

take as much as you can get and good luck to you.

only it aint going to be my taxes your taking.

yet another thing i got from being a member of HPC.

new directions for investments.

Share this post


Link to post
Share on other sites
Guest anorthosite
But Ernst & Young retail director Jason Gordon said that although households may have more money each month, the decline in house prices over the last year has “significantly eroded their overall wealthâ€.

I wonder how the market value of my kidneys have changed over the past year. That would affect my wealth in the same way. :blink:

Share this post


Link to post
Share on other sites

I don't know how anyone could possibly be surprised that disposable incomes have risen given that interest rates have been slashed to record lows. That was the whole point of taking the decision to cut so drastically.

Edited by Dave Spart

Share this post


Link to post
Share on other sites
Me too.

House worth more than when I bought it, a big decrease in cost of living, and an increase in income.

Petrol up, food prices up, consumable prices up, interest on savings down. Next year tax and interest rate rises. Yes every thing is rosey in the UK!

Share this post


Link to post
Share on other sites
Petrol up, food prices up, consumable prices up, interest on savings down. Next year tax and interest rate rises. Yes every thing is rosey in the UK!

and businesses moving out of the tax system.

according to my current accountant a lot are leaving big time.

Share this post


Link to post
Share on other sites

I cant work out who are the bigger idiots. The ones who write this shit, or the ones who believe it.

It is the odious selfish people like hamish 'HPI' Mcslack jaw and his labour apologist buddies such as Pat primate that have brought this country to its knees.

Great Britain is digging its own grave with its credit card and the sooner people realise this the sooner we can have a purge and get rid of the idiots that are the problem.

Lets get the ******ing interest rates up, cut the public sector and stop shovelling money into the ******ing hole we have dug. If we need to fill the hole i have a nice list of dead weight people that would do nicely.

Share this post


Link to post
Share on other sites
And what happens when rates have to rise? Ooops!

There is stage two of the crash. And it'll be brutal.

When Vesuvius erupted in AD79 the people of Pompeii went out into the streets to marvel at the enormous cloud unaware of the extreme danger.

Some played in the ash and pumice blissfully ignorant of the superhot pyroclastic flow crashing down the slopes ready to vaporise the town and its naive people.

"Those who do not remember the past are condemned to relive it."

George Santanya

Edited by Dave Spart

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   285 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.