The Chattering Classes
Written by Peter | Filed under General
Camberwell & Peckham has the highest ratio of income to mortgage in London; the proportion is 30.5% of income spent on mortgage. The lowest is in Twickenham, a proportion of 18.5%. From this I judge that incomes are lower here, not that house prices are higher.
There’s one for the dinner parties this weekend.
March 2nd, 2006
or alternatively we own more properties per person? Or we’ve all remortgaged to live a luxurious lifestyle?
Or that the proportion of youngish first time property owners is higher. The data are only for people who have both a Barclays current account and a mortgage, so excludes people who don’t have mortgages at all. And first time buyers typically have a)lower incomes and b)less housing equity (so bigger mortgages as percentage of house costs) than the average homeowner.
We could therefore take this as a good sign, because it suggests that first time buyers are moving to Camberwell & Peckham.
Yes, SE5 is good for first-time buyers but not so good if you have children — the schools are hard-pressed in this area. Some of the primary schools are great, but not all. When Blair said “Education, education, education” he meant go private, as though people could.