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  • FIRST POST
    • Maxwell007
    • By Maxwell007 6th Sep 17, 1:44 PM
    • 232Posts
    • 77Thanks
    Maxwell007
    I'm having housing a moan . . . . .
    • #1
    • 6th Sep 17, 1:44 PM
    I'm having housing a moan . . . . . 6th Sep 17 at 1:44 PM
    Is it just me but are the house prices in London and Kent still way over priced,

    Me and the wife have £325 to spend tops,

    all we want is a good 2 & a half / 3bed with garden with parking space, and walking distance to train station . . . .

    no more the 1hour door to door to city and back, travel cost under £300 per month,

    Maybe i'm asking for too much hahaah

    When is this CRASH GONNA HAPPEN . . .
Page 2
    • SuboJvR
    • By SuboJvR 7th Sep 17, 1:10 PM
    • 355 Posts
    • 247 Thanks
    SuboJvR
    Have you actually looked at travel times? Gravesend to Kings Cross St Pancras is 16 mins, not an hour lol.
    Originally posted by deannatrois
    Not sure the travel cost would meet his criteria though on the high speed! May be wrong!
    • Maxwell007
    • By Maxwell007 7th Sep 17, 1:22 PM
    • 232 Posts
    • 77 Thanks
    Maxwell007
    Why not look further a field? Wellingbrough (northants) is 53 mins to St Pancras for instance and well within your budget.

    Now why can't i buy a mansion house in Chelsea for 97p? that is more or a sensible question
    Originally posted by ssparks2003

    1 Months travel ticket is £662.40 lool
    NO THANKS ssparks
    • Maxwell007
    • By Maxwell007 7th Sep 17, 1:23 PM
    • 232 Posts
    • 77 Thanks
    Maxwell007
    Not sure the travel cost would meet his criteria though on the high speed! May be wrong!
    Originally posted by SuboJvR
    slow train is an hour and cheaper lool
    • ThePants999
    • By ThePants999 7th Sep 17, 1:24 PM
    • 792 Posts
    • 894 Thanks
    ThePants999
    http://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/

    Mortgage payments as a percentage of income are at a 30 year low, deposit requirements are high I accept .
    Originally posted by martinsurrey
    Interesting link, thanks!

    However, the problem with looking at mortgage payments as a percentage of income is that you're by definition only looking at people who already have mortgages - and the issue here is the number of people who don't. Mortgage affordability is somewhat self-limiting these days, now the banks are more stringent about it, so the effect of higher house prices isn't unaffordable mortgages, it's people not able to buy at all. In 1991, 36% of under-24s and 67% of 25-34s were homeowners; by 2014 those percentages were 9% and 36% respectively, and likely even lower by now.
    (source)


    Household income has also risen much quicker than inflation (more women in the workplace means comparing 1970 single income households to 2017 duel income households isn't fair)

    http://webarchive.nationalarchives.gov.uk/20160107030736/http://www.ons.gov.uk/ons/dcp171776_341133.pdf
    Originally posted by martinsurrey
    I'm not comparing 1970 to 2017, though, I'm comparing 1997 to 2017. And I don't understand why those facts undermine my point - they seem to support it! If household incomes are significantly higher now, compared to the cost of living, than they were however many years ago, then it's even MORE of an issue that house prices are a much higher multiple of those incomes.

    Even if we ensured we compared apples to apples, e.g. by comparing the median disposable income of the average white male of whatever age, or however you wanted to do it, I'll bet significant money that you'll still see a highly significant difference.

    so you are suggesting that governments prioritized keeping mortgage rates high, and keeping women out of the workplace (along with other things)?
    Originally posted by martinsurrey
    Come on, there's no need for a straw man.
    Last edited by ThePants999; 07-09-2017 at 1:27 PM.
    • parkrunner
    • By parkrunner 7th Sep 17, 3:47 PM
    • 638 Posts
    • 958 Thanks
    parkrunner
    Is it just me but are the house prices in London and Kent still way over priced,

    Me and the wife have £325 to spend tops,

    all we want is a good 2 & a half / 3bed with garden with parking space, and walking distance to train station . . . .

    no more the 1hour door to door to city and back, travel cost under £300 per month,

    Maybe i'm asking for too much hahaah

    When is this CRASH GONNA HAPPEN . . .
    Originally posted by Maxwell007
    Technically if they are selling then they aren't overpriced.
    • maisie cat
    • By maisie cat 7th Sep 17, 4:06 PM
    • 223 Posts
    • 264 Thanks
    maisie cat
    There is nothing new about the compromise of property versus commute time.
    I made the decision to live with a longer commute in order to get a house in 1983! Wanting a commute of under an hour is pushing it anywhere , even in London
    Within a couple of years and a few train strikes I got a job closer to home as many people do.
    • Cheeseface
    • By Cheeseface 7th Sep 17, 4:57 PM
    • 125 Posts
    • 370 Thanks
    Cheeseface
    1 Months travel ticket is £662.40 lool
    NO THANKS ssparks
    Originally posted by Maxwell007
    But your house would be £150k cheaper.
    • Cakeguts
    • By Cakeguts 7th Sep 17, 5:22 PM
    • 2,738 Posts
    • 3,763 Thanks
    Cakeguts
    Interesting link, thanks!

    However, the problem with looking at mortgage payments as a percentage of income is that you're by definition only looking at people who already have mortgages - and the issue here is the number of people who don't. Mortgage affordability is somewhat self-limiting these days, now the banks are more stringent about it, so the effect of higher house prices isn't unaffordable mortgages, it's people not able to buy at all. In 1991, 36% of under-24s and 67% of 25-34s were homeowners; by 2014 those percentages were 9% and 36% respectively, and likely even lower by now.
    (source)



    I'm not comparing 1970 to 2017, though, I'm comparing 1997 to 2017. And I don't understand why those facts undermine my point - they seem to support it! If household incomes are significantly higher now, compared to the cost of living, than they were however many years ago, then it's even MORE of an issue that house prices are a much higher multiple of those incomes.

    Even if we ensured we compared apples to apples, e.g. by comparing the median disposable income of the average white male of whatever age, or however you wanted to do it, I'll bet significant money that you'll still see a highly significant difference.


    Come on, there's no need for a straw man.
    Originally posted by ThePants999
    There was a time in the 1997s where houses in London were much cheaper than at any other time. This was unusual not the norm.
    • Crashy Time
    • By Crashy Time 7th Sep 17, 5:32 PM
    • 4,839 Posts
    • 2,106 Thanks
    Crashy Time
    There was a time in the 1997s where houses in London were much cheaper than at any other time. This was unusual not the norm.
    Originally posted by Cakeguts

    The measures taken to drive them up from that price level, and the measures taken to keep them there after the bubble burst are also unusual and not the norm, interest rates for example stand out as VERY unusual and not the norm!
    • hazyjo
    • By hazyjo 7th Sep 17, 5:36 PM
    • 9,528 Posts
    • 12,016 Thanks
    hazyjo
    Southend may be an option. C2C line isn't so expensive as others. Leigh/Chalkwell and possibly even Westcliff are out of budget (might be lucky with the latter). I reckon there's a bit of money to be made buying in Southend. Loads more improvements planned. Already noticing smarter restaurants, etc popping up. Careful research needed though as it won't all improve!
    2017 wins: Opera tickets; film preview; lipstick; Ideal Home Show tickets + afternoon tea & bottle of Champagne; 2 cases of NKD; notebook; bath rack; books; film Premiere; Broadchurch DVDs; lipbalms; hamper (food/wine/Echo Dot/Jo Malone goodies); Avon lippies; cowhide rug; Windsor luxury break, foundation; Flybe flight
    • ThePants999
    • By ThePants999 8th Sep 17, 12:42 AM
    • 792 Posts
    • 894 Thanks
    ThePants999
    There was a time in the 1997s where houses in London were much cheaper than at any other time. This was unusual not the norm.
    Originally posted by Cakeguts
    Just London? FWIW, my source separated South East and London, and it was specifically the South East numbers I quoted.
    • nologo
    • By nologo 8th Sep 17, 9:35 AM
    • 11 Posts
    • 7 Thanks
    nologo
    There are several large 3 bed houses for sale under you price in Ashford kent
    Indeed have one for sale £315,000, 20 mins walk from high speed Ashford international, although not sure what commuting costs are likely to be.
    ok so far.......
    • Crashy Time
    • By Crashy Time 9th Sep 17, 5:52 PM
    • 4,839 Posts
    • 2,106 Thanks
    Crashy Time
    There are several large 3 bed houses for sale under you price in Ashford kent
    Indeed have one for sale £315,000, 20 mins walk from high speed Ashford international, although not sure what commuting costs are likely to be.
    Originally posted by nologo

    Ex-BTL`s..?
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