Jump to content
House Price Crash Forum
cupidstunt

Sevenoaks And The Ftb

Recommended Posts

They're a bit wrong. They're quoting the national average wage, but average wages for people living in Sevenoaks are a good deal higher -- £36,854 for people working full-time. So the real ratio is that average house prices are 9.1 x average full-time earnings, not 11.9 (assuming they're right about the average house price in Sevenoaks, which I've not got a reliable source for). Which is still on the high side, to be sure.

Share this post


Link to post
Share on other sites

They're a bit wrong. They're quoting the national average wage, but average wages for people living in Sevenoaks are a good deal higher -- £36,854 for people working full-time. So the real ratio is that average house prices are 9.1 x average full-time earnings, not 11.9 (assuming they're right about the average house price in Sevenoaks, which I've not got a reliable source for). Which is still on the high side, to be sure.

Thanks - 9.1 x average for the area. Nothing to be concerned about then.

Pr*ck.

Share this post


Link to post
Share on other sites

As an ex-Sevenoaks resident many moons ago I'd like to bring your attention to the fact that Sevenoaks, like Tonbridge and Tunbridge Wells, might give the impression that it is a bastion of retired colonels and dowager duchesses, tory voters and go-getting upper people, but all these three towns are surrounded by vast estates of not-so-good housing and there is a very large contingent of "ordinary" people.

Thus the assumed average income of over 30 grand is way out. I don't know where you got that figure but it ain't true.

VP

Share this post


Link to post
Share on other sites

As an ex-Sevenoaks resident many moons ago I'd like to bring your attention to the fact that Sevenoaks, like Tonbridge and Tunbridge Wells, might give the impression that it is a bastion of retired colonels and dowager duchesses, tory voters and go-getting upper people, but all these three towns are surrounded by vast estates of not-so-good housing and there is a very large contingent of "ordinary" people.

Thus the assumed average income of over 30 grand is way out. I don't know where you got that figure but it ain't true.

VP

I think the area has become significantly wealthier in recent years. It seems thousands of City types commute from the area now.

Share this post


Link to post
Share on other sites

As an ex-Sevenoaks resident many moons ago I'd like to bring your attention to the fact that Sevenoaks, like Tonbridge and Tunbridge Wells, might give the impression that it is a bastion of retired colonels and dowager duchesses, tory voters and go-getting upper people, but all these three towns are surrounded by vast estates of not-so-good housing and there is a very large contingent of "ordinary" people.

Thus the assumed average income of over 30 grand is way out. I don't know where you got that figure but it ain't true.

VP

The Annual Survey of Hours and Earnings on the National Statistics website. It's not a bastion of retired colonels and dowager duchesses, it's a bastion of City bankers, lawyers and accountants.

If you have an alternative set of figures, please tell us where you got them. But they're very unlikely to have as large a sample or as robust a methodology as the ASHE.

Thanks - 9.1 x average for the area. Nothing to be concerned about then.

Pr*ck.

To the (fairly minimal) extent that I expressed an opinion on whether or not it was cause for concern, I indicated that it was. But my main assertion was simply that 9.1 does not equal 11.9 -- do you disagree with this assertion, or are you just hurling random abuse for the sake of it?

Share this post


Link to post
Share on other sites

The Annual Survey of Hours and Earnings on the National Statistics website. It's not a bastion of retired colonels and dowager duchesses, it's a bastion of City bankers, lawyers and accountants.

If you have an alternative set of figures, please tell us where you got them. But they're very unlikely to have as large a sample or as robust a methodology as the ASHE.

To the (fairly minimal) extent that I expressed an opinion on whether or not it was cause for concern, I indicated that it was. But my main assertion was simply that 9.1 does not equal 11.9 -- do you disagree with this assertion, or are you just hurling random abuse for the sake of it?

Having lived in both Sevenoaks and RTW, I agree with zorn in the makeup of the population. Many a City gent (or lady) lives here. But averages are useless when it comes to salary. Median or mode are much more reliable. I also agree with VP about the housing, Tonbridge in particular. My guesstimate would put median wages in West Kent in the high 20's to low 30's. So, as usual, the truth probably lies in the middle at around 10.5 X earnings. Splitting hairs really.

Share this post


Link to post
Share on other sites

The Annual Survey of Hours and Earnings on the National Statistics website. It's not a bastion of retired colonels and dowager duchesses, it's a bastion of City bankers, lawyers and accountants.

If you have an alternative set of figures, please tell us where you got them. But they're very unlikely to have as large a sample or as robust a methodology as the ASHE.

To the (fairly minimal) extent that I expressed an opinion on whether or not it was cause for concern, I indicated that it was. But my main assertion was simply that 9.1 does not equal 11.9 -- do you disagree with this assertion, or are you just hurling random abuse for the sake of it?

No, and come on now, a suggestion that salaries do not exceed 30k on average is hardly abuse is it? I am pointing out that some statistics might be open to question. Sevenoaks has always had, and continues to absorb, a large number of ordinary wage earners which might not be included in the conventional wisdom that it is full of people commuting to London on a banker's or barrister's salary. The same stats are churned out on Tunbridge Wells which has a huge area of housing surrounding it perhaps not included in the optimistic figures you regard as definitive.

It might have passed other posters by that my comment on colonels and dowagers was a little tongue in cheek. I recognise that a new generation have asserted themselves. Nevertheless the broad mix of wage earners is not dissimilar to that twenty years ago. Not everyone lives in Kippington Road, or those other mock tudor ghastlies masquerading as tasteful housing. There are acres of ordinary housing which somehow don't make it to the perceived image of Sevenoaks.

VP

Edited by VacantPossession

Share this post


Link to post
Share on other sites

No, and come on now, a suggestion that salaries do not exceed 30k on average is hardly abuse is it?

No, you were engaging in perfectly civilised debate. My accusation of random abuse was aimed at "Smell the Fear".

Having lived in both Sevenoaks and RTW, I agree with zorn in the makeup of the population. Many a City gent (or lady) lives here. But averages are useless when it comes to salary. Median or mode are much more reliable. I also agree with VP about the housing, Tonbridge in particular. My guesstimate would put median wages in West Kent in the high 20's to low 30's. So, as usual, the truth probably lies in the middle at around 10.5 X earnings. Splitting hairs really.

It's true, of course, that the average (mean) salary is somewhat above what one might regard as a "typical" salary, due to high earners pushing it up. But it's equally true that the average house price is somewhat above the "typical" house price, for the same reason. If you're going to compare house prices with median salaries, you have to use median house prices -- which aren't available anywhere, as far as I know. Unless you have a source for median house price figures, you're going to have to stick to comparing mean salaries with mean house prices.

Share this post


Link to post
Share on other sites

It's true, of course, that the average (mean) salary is somewhat above what one might regard as a "typical" salary, due to high earners pushing it up. But it's equally true that the average house price is somewhat above the "typical" house price, for the same reason. If you're going to compare house prices with median salaries, you have to use median house prices -- which aren't available anywhere, as far as I know. Unless you have a source for median house price figures, you're going to have to stick to comparing mean salaries with mean house prices.

Not true. High earners spend a smaller part of their salaries on their own property than low earners. Furthermore, while there are many people that earn nothing (or next to nothing), there are no dwellings rated at nil value. You are right that a median house price would be better than average. Ideally we would be comparing mode house prices to mode salaries, but we cannot.

Share this post


Link to post
Share on other sites

Not true. High earners spend a smaller part of their salaries on their own property than low earners. Furthermore, while there are many people that earn nothing (or next to nothing), there are no dwellings rated at nil value. You are right that a median house price would be better than average. Ideally we would be comparing mode house prices to mode salaries, but we cannot.

Average full-time earnings figures only include people who work full-time, none of whom are paid nothing. Given that there is a minimum wage but no minimum house price, the effect you describe works exactly the other way around.

Share this post


Link to post
Share on other sites

Average full-time earnings figures only include people who work full-time, none of whom are paid nothing. Given that there is a minimum wage but no minimum house price, the effect you describe works exactly the other way around.

Would that not then further cloud the earnings picture as those with no income would drag down earnings but still require housing? At any rate, those with nil earnings are small beer in West Kent. What we need are median and mode house prices by region.

Share this post


Link to post
Share on other sites

Would that not then further cloud the earnings picture as those with no income would drag down earnings but still require housing? At any rate, those with nil earnings are small beer in West Kent. What we need are median and mode house prices by region.

The mode house price in every region is either £119,999 or £249,999. The mode is useless for looking at house prices.

Share this post


Link to post
Share on other sites

As an ex-Sevenoaks resident many moons ago I'd like to bring your attention to the fact that Sevenoaks, like Tonbridge and Tunbridge Wells, might give the impression that it is a bastion of retired colonels and dowager duchesses, tory voters and go-getting upper people, but all these three towns are surrounded by vast estates of not-so-good housing and there is a very large contingent of "ordinary" people.

Thus the assumed average income of over 30 grand is way out. I don't know where you got that figure but it ain't true.

VP

I have to agree VP.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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%



×
×
  • Create New...

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.