Average mortage
May 2nd 2006, 4:44 pm
#16
Fighting my corner
Joined: Aug 2005
Location: Adelaide, South Australia
Posts: 11,948
Re: Average mortage
Originally Posted by wmoore
"The overall average salary of the main income earner was £40,198"
Mrs M and I didn't make that put together (oop north mind you 
. Does that make us less than average or this survey bollocks?
The last time I recall seeing an average wage for the UK, it was about £24k.
Mrs M and I didn't make that put together (oop north mind you . Does that make us less than average or this survey bollocks?The last time I recall seeing an average wage for the UK, it was about £24k.
May 2nd 2006, 11:17 pm
#17
Drunken Aussie
Joined: Jun 2003
Location: Brisvegas
Posts: 1,080
Re: Average mortage
But according to the survey, two income households had an average of over £62,000 p.a.
So going on affordability, if average mortgage is 10% more in the UK, we can reduce the wage in the UK by 10% to compare.....
So £62,000 less 10% = £55,800 which is approx $134,000 at todays exchange rate.
Therefore, only if you will earn (in a two person household) over $134,000 will a house be more affordable in Australia.
Disclaimer: I disagree with the average income in the UK, and house prices are so different depending on locality in both the UK and Australia that any generalisation such as this is crap!
So going on affordability, if average mortgage is 10% more in the UK, we can reduce the wage in the UK by 10% to compare.....
So £62,000 less 10% = £55,800 which is approx $134,000 at todays exchange rate.
Therefore, only if you will earn (in a two person household) over $134,000 will a house be more affordable in Australia.
Disclaimer: I disagree with the average income in the UK, and house prices are so different depending on locality in both the UK and Australia that any generalisation such as this is crap!
Originally Posted by Vash the Stampede
Mrs Stampede and myself make a little more than £40,198 p.a. - but not much more!
