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As reported by the Daily Express newspaper the other day, house prices up £2,221 a month and wages up also. Full article here...
This is great news for those who have a house. However, I don't think 2.7% annual salary increase will keep up with the property increase though. If you are not a first time buyer and looking to buy an investment property (or another house), you will more than likely require a 25% deposit. If you are going to wait till next year to save up, then you will now have to try and save £555.25 (25% of £2221) per month to keep in line with house price increase.
Read more: House prices up, so too wages! Add new comment
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Recently I've been flitting between a couple of books, one of which being "From 0 to 130 Properties in 3.5 Years" by Steve McKnight. Throughout the book, Steve details how he went from 0 to 130 properties by utilising cash and cashflow. He explains what to avoid and what to go for when looking at investment properties. A relly good book and a great listen on Kindle in the car during your lon journeys. A fifth of the way into the book in chapter 5, "The truth about creating wealth", Steve started the first paragraph with:
"Could you live on $335.95 a week ? That’s what the Commonwealth Government currently provides single aged pensioners , and from it housing, living and other expenses must be paid."
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