House prices going into 2010 - Is shelter really affordable?

Thrugelmir

tommy75 wrote: »

I'd like to state that I'm posting here because I want to be sure that when I buy, its best for my family. I don't have a vested interest other than to make my familys quality of life as good as possible. I am bored of reading HPC, MSE and every other bit of information/public opinion and want to buy now but I do not feel now is the right time. I may well be wrong but history begs to differ. Interest rates have never been where they are in 300 years and we the public have never had to bail out banks with ludicrous amounts of money before.

This board isn't going to give you the answer to your own question. All you can do is read the various opinions, and make a decision for your self. From a personal perspective I have bought houses as its where I wanted to live. The house meet my needs. Also the total cost of buying and running the house was well within my budget. Over a lifetime a few thousand pounds is irrelevant in terms of the cost of your ideal home.

ad9898_3

Good post Tommy, what it shows is house prices were the most unaffordable around 1990, when you needed around 4x salary to buy a house, this time houses peaked at around 7.5x salary, and are still at 6x salary.

With no hope of any wage inflation on the horizon, and houses currently at 6x salary, is there really any argument about which way prices still have to go ? And before anyone says two people use both their wages to buy houses these days, I would say that basing a 25 year loan on two people always being in work, never falling pregnant, never becoming unemployed, never having an accident, never getting divorced/separating, or even perhaps avoiding death, is a serious and very unlikely event.

tommy75

ess0two wrote: »

http://www.rightmove.co.uk/property-for-sale/property-21916945.html?locationIdentifier=REGION%5E1155&minPrice=70000&maxPrice=90000&pageNumber=9&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E1155%26minPrice%3D70000%26maxPrice%3D90000%26index%3D80

75k :beer:
Thats actually what I would call a reasonable price for a semi needing a little tlc in most areas of the UK. Better than 100k+ for a bog standard 2 bed terrace we have seen to get on the ladder of wealth. After putting it in property bee I've got it entering market on 10th April 09 so its hardly being snapped up and having a look on nethouseprices, I get this:

19 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £55,000
Semi-Detached
Freehold
Not New Build 21-Jul-2008

12 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £59,000
Semi-Detached
Freehold
Not New Build 03-May-2006


14 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £60,000
Semi-Detached
Freehold
Not New Build 27-Jul-2005

12 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £48,000
Semi-Detached
Freehold
Not New Build 19-Jan-2005


3 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UT £87,950
Semi-Detached
Freehold
Not New Build 29-Nov-2004

17 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £79,950
Semi-Detached
Freehold
Not New Build 30-Sep-2003


10 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £59,950
Semi-Detached
Freehold
Not New Build 17-Jan-2003

16 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £59,950
Semi-Detached
Freehold
Not New Build 29-Aug-2002


7 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £55,500
Semi-Detached
Freehold
Not New Build 28-Mar-2002

14 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £67,000
Semi-Detached
Freehold
Not New Build 13-Jun-2001

16 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £37,000
Semi-Detached
Freehold
Not New Build


I have no idea about the area but I'm guessing its not the best (no offence to anyone living there, just going off prices ) and I do not think this particular house reflects the current pricing VS wages going of selling history, though I do acknowledge that some property prices are affordable but there was always some property knocking around at 5-10k in 2004 when the average terrace was about 40k

ceridwen

PasturesNew wrote: »

If anybody doubts that salaries for "normal people" are low, go to reed and do a search locally, stripping out jobs with a degree and jobs requiring specialist training ... see how the wages of the great masses have pretty much sat still - minimum wage increases each year, but jobs in the layer above that have sat still as NMW approaches them.

Too true!!!!

ess0two

tommy75 wrote: »

75k :beer:
Thats actually what I would call a reasonable price for a semi needing a little tlc in most areas of the UK. Better than 100k+ for a bog standard 2 bed terrace we have seen to get on the ladder of wealth. After putting it in property bee I've got it entering market on 10th April 09 so its hardly being snapped up and having a look on nethouseprices, I get this:

19 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £55,000
Semi-Detached
Freehold
Not New Build 21-Jul-2008

12 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £59,000
Semi-Detached
Freehold
Not New Build 03-May-2006


14 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £60,000
Semi-Detached
Freehold
Not New Build 27-Jul-2005

12 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £48,000
Semi-Detached
Freehold
Not New Build 19-Jan-2005


3 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UT £87,950
Semi-Detached
Freehold
Not New Build 29-Nov-2004

17 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £79,950
Semi-Detached
Freehold
Not New Build 30-Sep-2003


10 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £59,950
Semi-Detached
Freehold
Not New Build 17-Jan-2003

16 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £59,950
Semi-Detached
Freehold
Not New Build 29-Aug-2002


7 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £55,500
Semi-Detached
Freehold
Not New Build 28-Mar-2002

14 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £67,000
Semi-Detached
Freehold
Not New Build 13-Jun-2001

16 Grange Park Avenue,
Runcorn,
Halton,
WA7 5UU £37,000
Semi-Detached
Freehold
Not New Build


I have no idea about the area but I'm guessing its not the best (no offence to anyone living there, just going off prices ) and I do not think this particular house reflects the current pricing VS wages going of selling history, though I do acknowledge that some property prices are affordable but there was always some property knocking around at 5-10k in 2004 when the average terrace was about 40k

On a scale of 1 good / 5 bad,it ranks from my POV at 3,theres better to be had for £100-120k as areas go.
Its up North so gonna be a hell of a lot cheaper than down South,on a wage of £25k its well affordable as a starter home.

treliac

tommy75 wrote: »

Firstly, if that were true that the average dentist came out with over 100k gross pa then there is alot of dodgy goings on for the official figures to be around 30k?

From reading comments, 100k is not take home pay and their practice fees have to be paid for. Any dentists on MSE?

Is this just regarding NHS dentists or private too as I can see a private dentist who owns his/her practice earning alot of money. The article seems a little missleading imo but we are going to have a really long thread if we are discussing each and every job on the government statistics.:p

Toothsmith is a regular poster on the Health & Beauty board. Perhaps s/he would respond to a PM and give us the answer?

tommy75

treliac wrote: »

Toothsmith is a regular poster on the Health & Beauty board. Perhaps s/he would respond to a PM and give us the answer?

I don't think it would have much relevance as a whole but it would be interesting to know what type of mortgage your average NHS dentist could get atm.

silvercar

tommy75 wrote: »

I don't think it would have much relevance as a whole but it would be interesting to know what type of mortgage your average NHS dentist could get atm.

70k.

http://www.workhound.co.uk/salary/average-Dentist-salary.html

tommy75

silvercar wrote: »

70k.

http://www.workhound.co.uk/salary/average-Dentist-salary.html

UK WAGES-

28,000 to 45,000 as a salaried wage when employed by the nhs e.g. community dentist or salaried GDP, can be higher if reach senior post.

35,000-115,000 self-employed work depending on whether you own practice and proportion of nhs/private work


a 5year undergraduate training programme to break into dentistry, followed by one year vocational training and soon another year general practice training.

Hope this helps.

http://wiki.answers.com/Q/What_is_the_Average_wage_for_dentist

PasturesNew

So, dentists can afford some houses in some areas....

Moving on.. where were we?