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I was looking through my local paper the other day and found this:

Boydens estate agents

GREETINGS ALL FOR 2006

Well the good news is that there are encouraging signs to start the new year. A rush of buyers on the scene and sales being agreed. This bodes well for the months ahead as renewed confidence is back in the market. Please remember the old the old adage, if you sell for a little less then you buy for a little less and this will be the case for a while yet, but it keeps the housing market moving forward.

BUY FOR NOW!

It made me laugh especially when the average wage in clacton is £6 hr and house prices have gone up x 3 in six years, maybe they are finding it a little quiet?

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I was looking through my local paper the other day and found this:

Boydens estate agents

GREETINGS ALL FOR 2006

Well the good news is that there are encouraging signs to start the new year. A rush of buyers on the scene and sales being agreed. This bodes well for the months ahead as renewed confidence is back in the market. Please remember the old the old adage, if you sell for a little less then you buy for a little less and this will be the case for a while yet, but it keeps the housing market moving forward.

BUY FOR NOW!

It made me laugh especially when the average wage in clacton is £6 hr and house prices have gone up x 3 in six years, maybe they are finding it a little quiet?

They sound as nervous as turkey's in November

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It made me laugh especially when the average wage in clacton is £6 hr and house prices have gone up x 3 in six years, maybe they are finding it a little quiet?

Average annual full-time earnings in Harwich constituency (which includes Clacton): £19,790 -- on the low side, certainly

Average weekly hours worked in Harwich by full-time workers: 40.9

Average hourly wage is thus: 19790 / (40.9 x 52) = £9.30.

Please, everyone, before spouting off about how low average earnings are in an area, look it up in the Annual Survey of Hours and Earnings.

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Guest muttley

I was looking through my local paper the other day and found this:

Please remember the old the old adage, if you sell for a little less then you buy for a little less and this will be the case for a while yet, but it keeps the housing market moving forward.

Err...no.That's a formula that keeps the market moving DOWN.

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Average annual full-time earnings in Harwich constituency (which includes Clacton): £19,790 -- on the low side, certainly

Average weekly hours worked in Harwich by full-time workers: 40.9

Average hourly wage is thus: 19790 / (40.9 x 52) = £9.30.

Please, everyone, before spouting off about how low average earnings are in an area, look it up in the Annual Survey of Hours and Earnings.

Ahhh, but you need to Hedonically adjust it, factor in the part-timers, divide by 17, multiply by Gordon's fiddle factor, alter the start-finish points of the week retrospectively to ensure that the week fits with the Golden Rule, factor in an adjustment for the black market, take out the BTLers who aren't declaring their incomes, adjust for Poles, and the answer is - that the figures you're quoting are probably[i about as meaningful as the ONS's CPI/unemployment figures.

Not that I'm cynical, like.

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Ahhh, but you need to Hedonically adjust it, factor in the part-timers, divide by 17, multiply by Gordon's fiddle factor, alter the start-finish points of the week retrospectively to ensure that the week fits with the Golden Rule, factor in an adjustment for the black market, take out the BTLers who aren't declaring their incomes, adjust for Poles, and the answer is - that the figures you're quoting are probably[i about as meaningful as the ONS's CPI/unemployment figures.

Not that I'm cynical, like.

And of course that average figure of 19K includes the few making many more times that amount and therefore skewing the figures for the "average person on the street".

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And of course that average figure of 19K includes the few making many more times that amount and therefore skewing the figures for the "average person on the street".

Sure, but the average house prices also include the few multi-million-pound mansions, equally skewing the figures for the "average person on the street's house".

Ahhh, but you need to Hedonically adjust it, factor in the part-timers, divide by 17, multiply by Gordon's fiddle factor, alter the start-finish points of the week retrospectively to ensure that the week fits with the Golden Rule, factor in an adjustment for the black market, take out the BTLers who aren't declaring their incomes, adjust for Poles, and the answer is - that the figures you're quoting are probably[i about as meaningful as the ONS's CPI/unemployment figures.

It doesn't matter how fiddled they are, they're still infinitely more reliable than figures that someone just made up based on something his mate heard from someone else about how badly paid their second cousin once removed is. If you don't like the ASHE then fine, but you need to either suggest something better that we can use instead, rather than anecdotal nonsense, or just give up and not discuss earnings at all.

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And of course that average figure of 19K includes the few making many more times that amount and therefore skewing the figures for the "average person on the street".

and is skewed by existing homeowners less likely to want/need to buy a new house - certainly without equity. FTBs earning will be considerably less.

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wife out walking around the town for a bit of fresh air this afternoon, struck up a conversation with a lady [ out walking her scotty dogs like our daughter has ] anyway it turns out she works part time in an estate agents. Although the wife did not tell her we were STR, she the wife mentioned a house up for sale in the village this lady lived in...are you still following ?

Anyway the EA lady said, yes it was on with them, then it went to another agent who has still failed to sell it. She said, the market is "skittish" says people think they have a buyer then it all falls through. She was talking to the other aformentioned agent and he had said he was sick of this market. Funny thing is he showed me and the wife around a new house back in March, said we would make a mint on it, accused me of being pessimistic [we know each other] well that new house is still for sale.

Daughter talking to another agent in the town a fortnight ago, he had never known trade as bad as it is now. The more the VI's blitz the Media with spin the more evident it becomes, the jobs well and truly buggered. :D

Edited by Catch22

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Average annual full-time earnings in Harwich constituency (which includes Clacton): £19,790 -- on the low side, certainly

Average weekly hours worked in Harwich by full-time workers: 40.9

Average hourly wage is thus: 19790 / (40.9 x 52) = £9.30.

Please, everyone, before spouting off about how low average earnings are in an area, look it up in the Annual Survey of Hours and Earnings.

Yes, but you also know that if somone down the town hall earns 150k a year and 200 others earn 15k it doesnt sound quite so attractive does it?

Maybe you could look at jobcenter plus and check out the actual jobs in the Harwich constituency as you are such an expert.

Oh just to mention, i have lived in clacton all my 34 years so maybe someone who actually lives and works in clacton may know a little bit more than someone who glances over a few figures on a goverment or similar website.

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Well the good news is that there are encouraging signs to start the new year. A rush of buyers on the scene and sales being agreed. This bodes well for the months ahead as renewed confidence is back in the market. Please remember the old adage, if you sell for a little less then you buy for a little less and this will be the case for a while yet, but it keeps the housing market moving forward.

BUY FOR NOW

!

TRANSLATION:

Well the good news for buyers is that prices are dropping. A tiny trickle of buyers are still around and a few sales are being agreed at anything up to 20% under asking price. This bodes well for buyers as prices will continue to drop in the future.

Meanwhile I am in deep doodoo and sales have so poor that I haven't paid myself a salary for 3 months and I am seriously in arrears on my office rent. Please, please, buy something - I will actively help any buyer to stuff the vendor - just so long as I can get my commissions...........

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Oh just to mention, i have lived in clacton all my 34 years so maybe someone who actually lives and works in clacton may know a little bit more than someone who glances over a few figures on a goverment or similar website.

No, that's absolutely wrong. Someone who uses properly collated statistics with a good methodology behind them will learn infinitely more about salaries in Clacton in 30 seconds than someone who relies on anecdotal evidence can learn in 34 years.

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No, that's absolutely wrong. Someone who uses properly collated statistics with a good methodology behind them will learn infinitely more about salaries in Clacton in 30 seconds than someone who relies on anecdotal evidence can learn in 34 years.

I see you neglected my offer to you of looking at jobcentre plus and seeing what the wages are in the Harwich constituency, then you know what the wages are in an area.

You can only do jobs to which there are vacancies or maybe you don't realise this simple fact.

Please feel free to ask if you want me to explain.

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I see you neglected my offer to you of looking at jobcentre plus and seeing what the wages are in the Harwich constituency, then you know what the wages are in an area.

You can only do jobs to which there are vacancies or maybe you don't realise this simple fact.

Please feel free to ask if you want me to explain.

Job Centres only get the low-end jobs. You can't get any idea at all of average wages in an area by looking at the Job Centre ads. Furthermore, you can only do a job where there isn't a vacancy -- if you're doing it, it's not vacant.

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Please remember the old the old adage, if you sell for a little less then you buy for a little less and this will be the case for a while yet, but it keeps the housing market moving forward.

BUY FOR NOW!

It made me laugh especially when the average wage in clacton is £6 hr and house prices have gone up x 3 in six years, maybe they are finding it a little quiet?

I don't think anybody should be criticisig this EA for encouraging sellers to lower their prices!!!!

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No, that's absolutely wrong. Someone who uses properly collated statistics with a good methodology behind them will learn infinitely more about salaries in Clacton in 30 seconds than someone who relies on anecdotal evidence can learn in 34 years.

I personally think this is total rubbish. As a collector of numbers I am well aware of how little of the story they tell. But they're better than nothing and dispite this, I wish the ODPM would apply "the zorn principle" to their frigging "research" (for want of a better word). - sorry no examples. They drop off the ODPM website as quickly as they are put up (great mechanism for disinformation management).

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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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