-
-
Latest Discussions
-
??? Average London house prices in 1970 (from land registry) = £5190, £72,000 in today's money. London houses were getting on for 5 times the national average wage in 1970, if we used that as a formula that would be around £200k for an average London house today. -
By Cyclemonkey · Posted
The average house in London was nothing like £68k in the sixties. I suspect our fictional hard done by ED pensioner probably paid something more like £6k. Also your interest calculations are abit dodgy. Our pensioner did not buy the house for £2m so would not be paying anything like that interest. As for more recent buyers, I doubt many purchasers of £2m houses are doing so with a 95% mortgage. @Ebenezer I agree with CGT on primary residences. There are a few ways to cut this bit the fact remains housing wealth has been massively undertaxed and it is a growing source of intergenerational inequality. -
Cost of Covid to government estimated at £400 billion Cost to the economy of leaving Europe estimated at £32 billion a year Cost to UK due to Russia invading Ukraine £100 Billion plus Some analyses suggest that by 2018/19, austerity had suppressed the economy by nearly £100 billion, equivalent to over £3,600 per household, and led to a 2% reduction in GDP by 2015. The long-term effects include a weaker economy, lower wages, and a failure to reduce the fiscal deficit as effectively as intended, partly because lower growth reduced tax revenues You can do the maths yourself
-
£63,000 in 19698 is equivalent to nearly £1,400,000 today. Don't forget too that the way mortgages work, you pay almost the same amount in interest as you do for the property. So the actual cost to buy a £2m house over 25 years is closer to £4m. Buying a family home to live in wasn't a get rich quick scheme.
-
Recommended Posts
Archived
This topic is now archived and is closed to further replies.