teddyboy Posted January 30, 2006 Share Posted January 30, 2006 (edited) the madness of crowds. It is quite astonishing though, I mean how on earth can it cost more to buy a flat in Liverpool average wage £14k ish... than in Docklands average wage £50k ish. According to the latest statistics from the council the Average for Liverpool is £22,300 (FULL TIME MALE). My and my Girlfriend are on £39K JOINT salary. (£24,700/£14,360). Below the joint salary and STILL way below what these people are asking for housing. I can get 3x times JOINT if I am lucky £117K. That buys a house in a POOR area of Liverpool. But in the area that I have lived ALL MY LIFE. This wont buy a run-down terraced. Scenario: Lets say I could buy this run-down terraced for 120K. I would NOT be able to move for at least 10 years (Using the affordability map showing recessions - it would take about 10-12 years before the price would come back to the present level). When I get to this stage I have no equity apart from 10 years payments (50K?) With this 50K I could buy a semi for £180K leaving a MORTGAGE of £130K. Yes, wages should be better but Im 48 at this stage!!!! IN OTHER WORDS WHAT I BUY NOW I AM STUCK IN FOR THE REST OF MY LIFE!!!! I AM NOT LIVING IN AN AREA WHERE ME, MY MISSUS AND KIDS ARE SCARED TO GO OUT! Edited January 30, 2006 by teddyboy Quote Link to comment Share on other sites More sharing options...
doomwatch Posted January 30, 2006 Share Posted January 30, 2006 Oh my good god! Currently I'm having to look at either buying or renting a flat in Canary Wharf for work, I expect I'll rent. But just so you know...... a 1 bed flat less than 5min walk from any number of investment banks in Londons financial district....new build or second hand will cost around the same or less than that. I'm sure the NW is a lovely area..... but I struggle to see how local incomes can be similar to those in Canary Wharf. Agreed, I was in Didsbury before New Year & the prices were approaching SW London. Crazy. Quote Link to comment Share on other sites More sharing options...
pyewackitt Posted January 30, 2006 Share Posted January 30, 2006 (edited) Rochdale - 200K!?!?! Are you sure this isn't the figures for buying the entire block of flats? - Pye Edited January 30, 2006 by pyewackitt Quote Link to comment Share on other sites More sharing options...
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