How the property price boom makes sitting at home watching TV more profitable than going to work.
Graphic: TheDataCurator. Info source as listed below
The latest inflation figures show the cost of goods and services rose by 4.6%.
At the same time, wages rose by 6%
But beating all of that was the rise in property prices, which rose by 9.8%
The biggest rise in property prices was in Wales where property prices rose by 14.5% to an average price of £205,579.
That means the average Welsh property is rising in value by £2,169 per month.
The average income after tax is £1,999.
So you make £170 more staying at home and watching your house price rise than working at an average earning job.
Of course – one is a stock of value and the other an income flow, so you can’t buy food with the rise in your property price unless you sell it – but nonetheless it does set the property price rise in context with what average earnings are.
Graphic: TheDataCurator. Info source as listed below
Info Sources:
Property Prices:
Inflation:
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