After my blog post yesterday about the differences in the north and south of England (you can read it here) it sparked an interesting conversation amongst my friends.
The basic of it is, well what is the wage difference in England.
So here are the facts. I did choose a random job, which happens to be an accountant.
In Lancashire an accountant job minimum is 35k a year, In Surrey its 45k, which is roughly a 29% increase.
In Lancashire a 2 bed detached house with a garden prices started at £59,950 and finished at £549,995, bit of a difference but most seemed to be priced between 160 and 170, so for argument sake, lets say you be would looking at houses prices for £165,000
In Surrey a 2 bed detached house with a garden prices start at £290,000 and finished at £650,000, most seemed to be priced at around £360,000, that is a increase of 118% increase
Rental prices are the same
Lancashire we are looking at £475 up to £780 because there were only 12 properties I did the average which is £529 but more houses were actually up at £475 then any other price. Lets stick with the average though £529
Surrey the lowest is £900. I will let that sink in the lowest priced rental for the same sort of property in Lancashire, is almost double the lowest in Lancashire and over a £100 more than the highest. The highest £1750. The average is £1388, most properties were priced around £1500, but again lets go with the average. That is an increase of 162% increase.
Basically if we take Lancashire an accountant earning the minimum of 35k a year is bringing home £2257 and paying for their rental £529 leaving them with £1728 a month for bills and other things. The same person in Surrey earning their minimum of 45k bringing home each month £2,823 and paying for their rental of £1388 leaving them with £1435.
So to all my friends debating the point, as my friend C has just said, houses are cheaper but you are more likely to be an unemployed accountant in the north than in the south.