Deja Vu?

Really2

the_ash_and_the_oak wrote: »

If we are saying the ave FTB age is now 34, and that first-rung properties are now flats not houses, we have a situation where first time buyers are buying smaller properties at a later age. Presumably those in the flats are not having kids there (or maybe they are?), how long do we think FTBs are going to live in these flats - presumably in a rising market the increased equity forms the basis of a larger deposit for trading-up - but in a non-rising market?

I wold say those who left it later (unless low paid) will be buying a family property as they should be on more money than a 25 year old.

But a 25 year old is surely more likely to buy a smaller property.

i think chucky's post above is right. It all depends on location and local wages.

Average income buy a 3 bed semi here.

the_ash_and_the_oak

Really2 wrote: »

I wold say those who left it later (unless low paid) will be buying a family property as they should be on more money than a 25 year old.

But a 25 year old is surely more likely to buy a smaller property.

i think chucky's post above is right. It all depends on location and local wages.

Average income buy a 3 bed semi here.

I agree that a 25 yr old likely to be buying the smaller properties of course. But with the ave being 34 if we have a significant number of 25 year old FTBs this surely leaves us with an equivalent number of 40+ year old FTBs, can this really be right?

ruggedtoast

Really2 wrote: »

I wold say those who left it later (unless low paid) will be buying a family property as they should be on more money than a 25 year old.

But a 25 year old is surely more likely to buy a smaller property.

i think chucky's post above is right. It all depends on location and local wages.

Average income buy a 3 bed semi here.

This point is moot.

Better to ask - If I'm selling a one bedroom flat in such and such a part of town, who is likely to buy it? In all likelihood the answer these days is, a young person or couple, who want to live in it.

If you're pricing your flat above what this demographic are likely to be able to afford you're probably going to be spending quite a while on Rightmove.

Simples.

Really2

the_ash_and_the_oak wrote: »

I agree that a 25 yr old likely to be buying the smaller properties of course. But with the ave being 34 if we have a significant number of 25 year old FTBs this surely leaves us with an equivalent number of 40+ year old FTBs, can this really be right?

Yes an average is not a maximum or a minimum it is the average age so there will be examples of people buying over and under that age.

thats why it is an average.

Really2

ruggedtoast wrote: »

This point is moot.

Better to ask - If I'm selling a one bedroom flat in such and such a part of town, who is likely to buy it? In all likelihood the answer these days is, a young person or couple, who want to live in it.

If you're pricing your flat above what this demographic are likely to be able to afford you're probably going to be spending quite a while on Rightmove.

Simples.

You lost me. (I was not talking about selling just what average wage buys here.)

the_ash_and_the_oak

Really2 wrote: »

Yes an average is not a maximum or a minimum it is the average age so there will be examples of people buying over and under that age.

thats why it is an average.

I see your point. Whatever the age is the average, I guess we will have people both below and above buying.

Would it make any difference if average FTB age was 48?

ruggedtoast

Really2 wrote: »

You lost me. (I was not talking about selling just what average wage buys here.)

25 year olds are on average only slightly smaller than 35 year olds. But their salaries are usually less.

Really2

the_ash_and_the_oak wrote: »

I see your point. Whatever the age is the average, I guess we will have people both below and above buying.

Would it make any difference if average FTB age was 48?

Obviously there will be more people buying nearer the average than if the average was 34.:)

This just popped in my head.
I wonder if there is less higher paid young people than there was 10-20 years ago?
I would say the minimum wage as been a bit of a killer for some professions with good staff not rewarded like they were.
I some times wonder if the minimum wage becomes a bonus for bad workers and a punishment for good ones.

Really2

ruggedtoast wrote: »

25 year olds are on average only slightly smaller than 35 year olds.

I would say on average 25 and 34 year olds were the same hight if comparing male against male and female against female and there average hights.:)
Are we trying to dip in to surrealism?:)

neas

I'm 26 and could buy a 1st time buyer house 3 bedroom almost now... Then again i have a reasonable salary for the area am buying in.. not london salary but then again reaonable houses are around 160k etc