So I did a little googling to compare my position to young people now in the UK. The first salary I earned as a fresh graduate was £9k, which is about £25k today. That’s about the same (London average would be higher maybe). Then I looked at my salary when I bought my first house (with my girlfriend a few years later) compared to the cost of the house. That was 3x. Adjusting for inflation, that is now 6x, but the mortgage interest rate is half now. 1/2

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2024-11-23 10:44

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Giles W.
lerosbif66

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一小時內	Nick Ratcliff nikoratcliff	You’ve adjusted for inflation but not house price rises. You’ve left out what your salary was at the time you bought the house, but currently the average house price is £290k. I’m sure I don’t need to spell it out but the average income is not currently £100k/y
15 小時內	James Deighton jstevendeighton	I see you have replied to some comments showing housing is now 10-times annual income in many places in the UK. You then have to consider more stringent affordability criteria, meaning many cannot get a large enough mortgage. Rent has also increased MORE than housing costs, despite the average rental space being smaller. This means saving for a home is significantly more difficult than in previous decades. Taxes are also higher now, which again means less take home pay compared to annual wage.
一天內	Jen Grönroos jengronroos	It really depends on your career trajectory, working in public sector (NHS) the salary progression really hasn't kept up with the increasing (property prices). The three houses we've owned have increased in price 1.5-2x in the last ten years. Salaries have most definitely not while other living costs have also skyrocketed.