Are you in the top 5%

[Goweresque]

think you would need hell of a lot more than that to be in top 5%

Yes the figures have moved on a bit since 2012, more up to date stats are here:

https://www.ons.gov.uk/peoplepopula...ulletins/wealthingreatbritainwave5/2014to2016

To get in the top 5% you'd need net assets of over £1.7m. Having said that there's still plenty of farmers who'd qualify. And £3.2m gets you into the top 1% which would be 350 acres of land + farmhouse.

 

[bobk]

700k is f**k all .... I must be top 1% ..

 

[bobk]

Yes the figures have moved on a bit since 2012, more up to date stats are here:

https://www.ons.gov.uk/peoplepopula...ulletins/wealthingreatbritainwave5/2014to2016

To get in the top 5% you'd need net assets of over £1.7m. Having said that there's still plenty of farmers who'd qualify. And £3.2m gets you into the top 1% which would be 350 acres of land + farmhouse.

That's correct , a mate of mine in 2006 had 5.4 million assets , 2007 he went bust .

 

[Muck Spreader]

I always find it surprising how many so called multimillionaires don't appear to have a "pot to p!ss in" when the bailiffs call.

 

[Turra farmer]

That's correct , a mate of mine in 2006 had 5.4 million assets , 2007 he went bust .

How did that happen

 

[Turra farmer]

I always find it surprising how many so called multimillionaires don't appear to have a "pot to p!ss in" when the bailiffs call.

They are so called , different story from real thing

 

[Goweresque]

????

For the likes of me aka the ''average joe blogs'' a £700k house is a bit more than ''good''

Average detached house price =£366k. semi-det=£226k, terraced =£194k

Depends what part of the country you're looking at. I was only talking to someone yesterday, a friend of theirs was looking to move closer to London, they were looking at Egham in Surry with a budget of £650k which might get them a 70s built three bed semi.

 

[bobk]

How did that happen

He'd borrowed against the equity .

 

[Turra farmer]

He'd borrowed against the equity .

Net worth is assets less liabilities , what did he borrow for

 

[bobk]

Net worth is assets less liabilities , what did he borrow for

To buy them .

 

[Turra farmer]

To buy them .

So he was never a millionaire ,

 

[bobk]

So he was never a millionaire ,

No . he thought house prices would keep rising . and they have ... but not in 2007 .

 

[7610 super q]

I'm very poor indeed.

 

[Turra farmer]

No . he thought house prices would keep rising . and they have ... but not in 2007 .

If it was that simple everyone would be doing it

 

[bobk]

If it was that simple everyone would be doing it

A lot were .

 

[Turra farmer]

A lot were .

Ye and the rest of us were working

 

[Pieces_of_Eight]

How many farmers would fit into this bracket?

The top 5% by earnings may paint a slightly different picture.

 

[Hilly]

A lot were .

Alot still are.

 

[bobk]

Alot still are.

Exactly , tenants paid the loan and the house went up 10% a year .

 

[Hilly]

The top 5% by earnings may paint a slightly different picture.

Their will be nothing slightly about it totally more like it.