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Average couples would earn £44,000 extra if wage were higher

 

According to a new report, if the wages had risen at the same page as the housing prices in the UK, an average couple would be earning £44,000 a year more today.

The report states that if the salaries had risen as fast as house prices since 1997, people would be earning tens of thousands of pounds more each year. It showed that in most expensive region, house price-earnings gap reached the £100,000 barrier. The average annual household's earnings would have to be £158,000 higher than actual today in Westminster in London if wages rose along with the housing prices.

The report by housing charity Shelter is based on official, regional house prices and earnings data taken from 1997. The data was then compared with similar data from 2012. The charity has compared both single-earner households and couples with and without children. On a national level, a couple's earnings would be £44,000 higher today if the wages rose at the same pace as the housing prices.

"As house prices have risen at a higher rate in London and the South East, the gap between actual earnings and housing-inflated earnings is larger in these areas. There are also high house prices in the South West with pockets of extremely high house prices - relative to wages - in the North, !" Shelter said.

 

Sourse : Top News


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