Where can you afford to live?

Judgeneo

Judgeneo

Judgeneo

Soldato
Joined
15 May 2010
Posts
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Out of Coventry
http://www.bbc.co.uk/news/business-23234033


This makes no sense to me, have the BBC screwed up their figures somehow?

Set it to renting, one bedroom, and high end of the market, you see you need £900 per month to cover over 90% of the Uk

Now change to a two bedroom property keeping the rest of the setting the same, and £900 lets you rent in 100% of the UK


Three bedrooms at £900 lets you rent 64%, and four bedrooms gets you 17%


Is there something wrong with the two bedroom figures?
 
One bedroom goes up to 800+, two bedroom 900+. Different top end figures - 3 bedroomed is higher still.

And now it shows one bed as 1200+ they cocked up ...

Ok the coding on the one bedroom is wrong the top limit is at first 800 but then will default to which ever bedroom one you looked at before ...
 
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Xordium said:
One bedroom goes up to 800+, two bedroom 900+. Different top end figures - 3 bedroomed is higher still.

And now it shows one bed as 1200+ they cocked up ...
Click to expand...

Indeed, thats what its showing for me now too, seems to change its figures depending on what you just looked at.


Any idea what the correct figures should be?
 
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The monthly mortgage payment slider only goes up to £1,450. That's a bit optimistic for a decent sized house in a nice part of London! :p
 
With a £20,000 deposit and £600 per month, you can afford 24% of the UK's mid-priced three bedroom houses.

I'd like to know what mid-priced is.
 
You need a deposit of at least £110,000 and mortgage payments of at least £1350 to be able to afford the most expensive places in the uk, apparently.

If I was buying on my own, I'd be able to afford 40% of the expensive places. If I bought with my partner, I'd be able to afford about 80% (anywhere but London)
 
The calculator is rubbish, apparently I couldn't buy the house I bought 3 years ago and live in it without paying twice the mortgage/month where I currently live or I move to Northern Ireland and pay 80% more.

Bare in mind I'm on a garbage fixed rate deal so my monthly payment is actually rather high as it is..
 
Data is wrong.
My rent is less than that website claims I can rent for in Newcastle

1 bed flat band A my rent was £74.07 a week but goes up in april to around £76
lower than the 350/ month I need to live in Northumberland unless they are counting council tax which is around £750 a year for me.

I know there are cheaper areas than where I am as well
 
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According to that calculator the house I have purchased recently would not be possible... but then that is without knowing what the bands are for low mid and high priced housing.
 
Well if you look at it in a really simple way, I'm paying £85 less than I should be for my mortgage each month according to that calculator, nice one.
 
Pretty much everywhere bar central London and a few Home Counties.

But obviously the data is based on averages, and if there is a skew of high end properties and a lot of low end property prices, the average is artificially pushed up. So it's a bit daft really. Doesn't really help.
 
Based on renting on current affordability, everywhere except london and a few of the more expensive counties.
Based on an increased income for working in those areas, all but central london.
 
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