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mynamehere

Average Household In Uk Worth £326,414. So Housing Is Not Expensive?

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So i'm on the verge of being converted to a property bull.....


I just read an article claiming the average household wealth is £326,414. (The average individual in the UK has a net worth of 160k according to a similar article).


So I know a lot of people look at earnings and interest debt and that kind of thing, but it seems to me that the average person in the UK can easily afford to own a house at teh average price.


So this supports current house prices? Doesn't really matter about earnings to price ratios, if this kind of equity is so common. Everyone is loaded but me!


Also I read that more people own outright, than have a mortgage.


So I'm struggling to see how a slight change to the BTL market which is what, 10% of the market, can have much impact on average house prices.


www.theguardian.com%2Fmoney%2F2015%2Ffeb%2F25%2Fowners-outstrip-mortgage-holders&usg=AFQjCNGGQLdPpBe6mFx0XDqgvwAZXgGGSw



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