We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
FTB expectations too high?
Comments
-
-
We have a 4 bed house on the outskirts of London but we have spent between us 25 years getting to this point, it is worth a lot as we live in an expensive area but I think it comes back to some of the other posters. There are averages and then there is YOUR area. A 4 bed house in say Weybridge is likely to be considerably more than a 4 bed house in say mid Wales. I dont particularly like averages, the average house at this present time is I believe £150K ish. Not in this area it isnt.....
Living 50 miles north of London, in a nice, low crime, low unemployment town i can see where you are coming from. Houses WERE expensive but are gradually falling very nicely indeed. Long may that continue.
0 -
I dont agree. Nicer areas will always be more expensive, if all areas were the same noone would want to live in the less attractive ones.
Yep. And when you can get a 2 bed ex council estate flat in longsight again for under 5K, I guarantee prices in the nice areas will have fallen substantially. Maybe not as much as a compared %, but certainly significantly.
Yes, they will still be more expensive, but certainly not at the unrealistic prices that are not selling today.0 -
Yep. And when you can get a 2 bed ex council estate flat in longsight again for under 5K, I guarantee prices in the nice areas will have fallen substantially. Maybe not as much as a compared %, but certainly significantly.
Yes, they will still be more expensive, but certainly not at the unrealistic prices that are not selling today.
One thing you are forgetting you may not have a job to get that mortgage.I'm not cynical I'm realistic
(If a link I give opens pop ups I won't know I don't use windows)0 -
I thoght you OH was from Israil? i am not sure what ownership is like in other country's
I am not sure why you try to pick fault with my statement
( I think I may have done somthing to upset you in the past as you seem to do it quiet a lot on my posts)
It's ture the majority of house owners do increase the size of their house as they get older (family etc) and possibly look to decrease during retirement?
It's nothing personal, I'm not having a go at you. I am just disagreeing that the "property ladder" is the right and proper and inevitable way of doing things....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »It's nothing personal, I'm not having a go at you. I am just disagreeing that the "property ladder" is the right and proper and inevitable way of doing things.
OH was born in Israel, but his father was born here and emigrated to Israel at the age of 18.
His mother's father arrived in Palestine, bought a patch of land in Tel Aviv, and built a house on it, and split it into flats for his children. OH's grandmother lived there from baby hood, his mother was born there, and now his uncle lives in the same flat.
With well over half of all property transactions are not first time buyers (I think somthing like 70% at the moment)
So trading up and down is firmly established in the UK housing economy. Otherwise FTB would be a masive amount of the tranaction rate.
Not disputing it may not be the case for your family but that is your own personal experiance.
But the UK as a whole can not be judged on what your family as done so the mortgage figures alone prove that people move up and down the housing ladder.0 -
With well over half of all property transactions are not first time buyers (I think somthing like 70% at the moment)
So trading up and down is firmly established in the UK housing economy. Otherwise FTB would be a masive amount of the tranaction rate.
Not disputing it may not be the case for your family but that is your own personal experiance.
But the UK as a whole can not be judged on what your family as done so the mortgage figures alone prove that people move up and down the housing ladder.
Those FTB stats get even worse when you take into consideration the following:The reason for this is that
the SML defines a first-time buyer as someone who,
prior to this purchase, was not an owner occupier. So
someone who was an owner-occupier, sold up a year
ago and moved into rented accommodation and is now
moving back into owner occupation, will still be
classified as a first-time buyer even though they may
have substantial ‘equity’ from the sale of a former
home.
Hence the reason why I accuse the CML of using salary figures that are overinflated. Every single STR that has been out of the housing market for a year or more is classed as a FTB.
Why the land reg cannot have a tickbox on the conveyancing forms as to the nature of the buyers history is beyond me. Oh, but thats right, having it this way skews the data and means the govt can argue the toss for higher house prices.0 -
Not disputing it may not be the case for your family but that is your own personal experiance.
But the UK as a whole can not be judged on what your family as done so the mortgage figures alone prove that people move up and down the housing ladder.
I'm not disputing people do it, I'm disputing the "it's the way things always were and always ought to be" lines....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
neverdespairgirl wrote: »I'm not disputing people do it, I'm disputing the "it's the way things always were and always ought to be" lines.
But the truth is I never said that, the line you questioned was.
Quote:
Originally Posted by Really2
I am not knocking you, you earn a good wage but trading up as always been a part of house purchasing.
People have been buying bigger and smaller houses for years and years. I really can't see why you would dispute that.
I am sorry the biggest reason for moving house is more space. (or less space if you are retiring)0 -
Yes I can't see how it can be disputed really.
Go back 100 years and most people not only rented but large families lived in very small spaces, often just one or two rooms. It was long after that the UK became a nation of buyers so we can't go back that far to see how people in this country have traditionally bought houses.
A lot of people stay single for quite a long time nowadays. They might earn pretty good money but want to enjoy life - why would you want to live in a 3 bed semi if you didn't even have/want a boyfriend/girlfriend, never mind children for the forseeable future? So you buy a flat. Fast forward five years, you meet the boy/girl of your dreams and buy a house. Fast forward five years and you have 2, 3 or 4 kids. Your house is now starting to feel a bit cramped. Your salary has gone up. You move to a bigger house. Your kids grow up and leave home. You're ratting around in your house. So you sell it and buy a smaller one.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards