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On Average, You Can't Afford It

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On average, you can't afford it

It seems only yesterday that the headlines were shouting that the average UK house price had hit the £100,000 barrier. Yet last month property website Rightmove released a survey showing that the average asking price in the UK is now just a shade off £200,000 - an increase of just a little more than £1,500 on the month before. It's bad news for anyone earning an average salary. In November the Office for National Statistics released its latest earnings survey showing regional variations in the average annual salary from £20,082 in the North East to £28,912 in London - way below what you would need to buy the average home, assuming a lender allowed you to borrow up to 3.5 times your salary.

So what is the average property like in your area - and does your salary match up?.......CLICK ABOVE LINK

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What happened when there was a dangerously high divergence in the P/E ratios for high tech stocks a few years ago? If house prices are about 8 times salary levels something has gotta give! First goes the purchasing power of overstretched borrowers (hence High Street Collapse--HSC/ 60% increase in CCJs and growing), next comes increasing unemployment (because factory orders follow slow down in sales--hence CBI report this week stating economy worst in 22 years) then, dear souls, comes the blessed HPC we are all waiting for!

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  • 301 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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