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Realistbear

Average Incomes Highest In London

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http://uk.biz.yahoo.com/09062010/389/london-best-place-live.html

Wealth
According to the report, Londoners earn the highest average income at £620 per week (£32,240 per annum per household).
London also showed the widest spread between lowest and highest incomes: the highest 10 per cent of households had incomes of £820 a week or more (so at least £42,640 per annum), compared with the lowest 10 per cent whose income was just £460 or less (so £23,920 or less per annum).
By contrast, earners in the North East work for the lowest average income in the UK, taking home just £400 a week (£20,800 per annum). Only 10 per cent of households in the North East had net incomes of £480 a week or more (£24,960 per annum).

32.2k per annum does explain why prices are well over 250k on average in London. It also explains how some London prices are twice, three times that amount when you consider the very top earners are taking home an astronomical 42.6k per annum!

Now I understand--silly me, there I was thinking houses in London and the SE were unaffordable. (Puts on Basil Fawlty disdain for oneself) Kerr, kerr.....

But hang on, if the average high earners are earning 42.6k that means that if they get a 5 X income loan they can really only afford something LESS than 250k which means......that house are a bit dear?

Edited by Realistbear

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Do those figures include the mega earners?

The bankers on 250k - 5m will severely skew the numbers.

They should skew the numbers higher - but they don't seem to be do they. Those salary numbers aren't overwhelming when you consider house prices - there's a severe disconnect between earnings and prices.

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They should skew the numbers higher - but they don't seem to be do they. Those salary numbers aren't overwhelming when you consider house prices - there's a severe disconnect between earnings and prices.

The thing I don't get is that I know loads of people earning between £50k and £140k, I don't quite understand why the averages aren't actually higher in London. Most IT Consultants, Enterprise Sales Execs, Non Partner Lawyers and relatively Junior bankers will be somewhere in this range - all of them paying disproportionately large amounts of tax.

I wonder if the figures are skewed downward by tax evasion by business owners, plumber, taxi drivers, and perhaps lower earnings by part timers.

I forgot to add QUANGOCRATS, Government Special Advisers and Senior Council Officials.

Edited by Mikhail Liebenstein

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They should skew the numbers higher - but they don't seem to be do they. Those salary numbers aren't overwhelming when you consider house prices - there's a severe disconnect between earnings and prices.

I guess the mega earners are less than 1% of the employed in London.

I earn over the average, and my wife more still. We still could only afford to buy a 2 bed flat in an average area in zone 3.

Mad that if we were on the dole, we would qualify for a 2 bed in a prime area for free. If we had 'points', of course.

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Do those figures include the mega earners?

The bankers on 250k - 5m will severely skew the numbers.

Not the percentile points.

Sure, it would skew the average within the top 10%, but not the 10% point itself.

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Not the percentile points.

Sure, it would skew the average within the top 10%, but not the 10% point itself.

True.

Depends on how the numbers are crunched.

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The thing I don't get is that I know loads of people earning between £50k and £140k, I don't quite understand why the averages aren't actually higher in London. Most IT Consultants, Enterprise Sales Execs, Non Partner Lawyers and relatively Junior bankers will be somewhere in this range - all of them paying disproportionately large amounts of tax...

nah, an average of £32k per household sounds about right to me.

sure, there must be a few hundred thousand households who earn more than that,but many millions who earn a good bit less.

Edited by the flying pig

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By contrast, earners in the North East work for the lowest average income in the UK, taking home just £400 a week (£20,800 per annum). Only 10 per cent of households in the North East had net incomes of £480 a week or more (£24,960 per annum).

Does that include tax credits?

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The thing I don't get is that I know loads of people earning between £50k and £140k, I don't quite understand why the averages aren't actually higher in London. Most IT Consultants, Enterprise Sales Execs, Non Partner Lawyers and relatively Junior bankers will be somewhere in this range - all of them paying disproportionately large amounts of tax.

I wonder if the figures are skewed downward by tax evasion by business owners, plumber, taxi drivers, and perhaps lower earnings by part timers.

I forgot to add QUANGOCRATS, Government Special Advisers and Senior Council Officials.

Maybe you forget that we all tend to mix with people much like ourselves, which always skews our perceptions?

Amongst all the people that you know, how many are cleaners, bus drivers, parking attendants, supermarket shelf stackers?

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Or a plumber working three days a week...

very true, but then the problem is that you can't easily use the money to get a mortgage ;)

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The thing I don't get is that I know loads of people earning between £50k and £140k, I don't quite understand why the averages aren't actually higher in London. Most IT Consultants, Enterprise Sales Execs, Non Partner Lawyers and relatively Junior bankers will be somewhere in this range - all of them paying disproportionately large amounts of tax.

I wonder if the figures are skewed downward by tax evasion by business owners, plumber, taxi drivers, and perhaps lower earnings by part timers.

I forgot to add QUANGOCRATS, Government Special Advisers and Senior Council Officials.

What I think you are missing is the fact that you probably mix with people much like yourself. Wealthy people often have a skewed perception of what others earn because their friends and associates earn the same. I wonder if it is one reason why the bankers were able to let things get as far out of hand as they did - they just didn't realise (at a gut level) how little most people earn and what that means?

My circle of UK friends, Oxbridge types, earn a huge amount on average. I'm now living in a part of Australia where, apart from the doctors, almost everyone I meet is paid a pittance. It affects your perceptions.

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What sounds about right to you for a good wage? Friend of mine on £35k working as a mechanical engineer at a brewery up here in Scotland, but is adamant on going into the oil biz to rake in more cash - not sure if that's a good career move right now, but it got me wondering if that sort of salary was really enough. Probably not when you considered his huge mortgage on his flat and kid to take care of. His ethos was that there's money to be made and that if you don't screw somebody else, they'll screw you for the money I found myself half agreeing, half aghast.

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http://uk.biz.yahoo.com/09062010/389/london-best-place-live.html

32.2k per annum does explain why prices are well over 250k on average in London. It also explains how some London prices are twice, three times that amount when you consider the very top earners are taking home an astronomical 42.6k per annum!

£600 is pathetic. This equates to £30k which in turn is £2k per month take home.

YOU CAN BARELY LIVE ON £2k per month in the South East!

AND THESE ARE AVERAGE INCOMES!

This country is well and truly BORKED!

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Either those figures are wrong or everyone I know who works in London is lying about their income!

everyone earns 100K dontchaknow

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£600 is pathetic. This equates to £30k which in turn is £2k per month take home.

YOU CAN BARELY LIVE ON £2k per month in the South East!

AND THESE ARE AVERAGE INCOMES!

This country is well and truly BORKED!

you can easily live on 2K take home.

parrently the average Northern Income is £400 per week TAKE HOME.

or is that per household too?

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  • 259 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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