Oil price jumps to $104 a barrel

[DimPrawn]

"average property in the capital costing 430,680 pounds."

And what kind of after tax salary is necessary to afford this average property?

Minimum wage as long as you put down a £400K deposit.

HTH

[AtW]

Minimum wage as long as you put down a £400K deposit. HTH

Ok, so you think minimum wage £5k+ per year is ok to borrow £30k?

[Jog On]

Ok, so you think minimum wage £5k+ per year is ok to borrow £30k?

Depends what the rest of your income is

[SueEllen]

They release a rich coffee aroma when ground and can be added to hot water to make a tasty beverage.

You are better of selling them on then drinking them - coffee prices

[DaveB]

"average property in the capital costing 430,680 pounds."

And what kind of after tax salary is necessary to afford this average property?

A 25 year mortgage on £430,000 at 4.5% will cost you £2,416 a month in mortgage payments.

To get the loan based on the Halifax lending criteria you'd need to be earning in the region of £65000 to get a 75% mortgage on that amount on a 25 year term.

Average income in London in 2010 was £39,000.

[DimPrawn]

A 25 year mortgage on £430,000 at 4.5% will cost you £2,416 a month in mortgage payments.

To get the loan based on the Halifax lending criteria you'd need to be earning in the region of £65000 to get a 75% mortgage on that amount on a 25 year term.

Average income in London in 2010 was £39,000.

So Mr and Mrs Average in London (both working) could afford that and have two holidays in Disneyland ever year and buy an Aygo and an Eco Shed?

[AtW]

A 25 year mortgage on £430,000 at 4.5% will cost you £2,416 a month in mortgage payments. To get the loan based on the Halifax lending criteria you'd need to be earning in the region of £65000 to get a 75% mortgage on that amount on a 25 year term. Average income in London in 2010 was £39,000.

£39k salary is £2,402.85 monthly net wage - so this already makes this "average" house out of the reach.

£65k salary is £3,721.70 net - 65% of net income spent on mortgage, and that using very low interest rates of 4.5%!!!

Clearly this average house price is totally unrelated to average salary and thus the market is completely and utterly overpriced.

For this reason I am out.

[DimPrawn]

£39k salary is £2,402.85 monthly net wage - so this already makes this "average" house out of the reach.

£65k salary is £3,721.70 net - 65% of net income spent on mortgage, and that using very low interest rates of 4.5%!!!

Clearly this average house price is totally unrelated to average salary and thus the market is completely and utterly overpriced.

For this reason I am out.

Most people buy as a couple so you can double the salary.

If you are waiting for 3x income house prices, prepare to die waiting.

[AtW]

If you are waiting for 3x income house prices, prepare to die waiting.

I've chosen to increase my income instead

[DimPrawn]

I've chosen to increase my income instead

Good plan.

That's the way I look at everything.

Nothing is overpriced, you are just underwealthy.