cheaper housing areas, opinions?

russ21282

I live in an area where property is still affordable, (3 times an average wage) house prices haven't dropped a great deal because of this, i think. If anything, more houses are now under offer than when we were looking 18 months ago.

Are areas like this going to have similar depreciation as more expensive areas? Personally i can't see it happening, but as we are looking to buy at the moment, i would like some opinions

Mini_Bear

i went to uni in the northeast (Durham) and lived in the delightful stockton-on-tees for three years. here i was amazed at how cheap property was and how everyone seemed to have plenty of money left over for the latest clothes and cars. Made quite a contrast going home to Colchester and now Chelmsford where house prices are 6x average salaries and people are putting everything on credit cards.
I think that places where houses are at the sensible 3 or 3.5x salary levels will not drop much as demand and affordability will be present. OP you are soooo lucky to live in an area like this. If i could get a decent payin job in the North East i would move in a flash!

besonders1

If i could get a decent payin job in the North East i would move in a flash!

I grew up in stockton and I agree with you. The only downside is that in terms of finding a job, its not what you know it who you know.

bo_drinker

There was a prog on Radio 2 today caught a bit of it, looking for the cheapest place in the UK. A few in the N E, 4 to 5k a throw they reckon. A bungalow somewhere by the sea for a pound, as it was about to be in the sea I think.