How much is an FTB property where you live?

[Deleted User]

Yes, a high population density - in other words a LOT more people per square mile. And a lot of jobs per square mile....significantly more than you'll find per square mile in pretty much any other part of the UK.

So yes, a lack of land and a high population density. But if you start shunting people out of the south east to ease the overpopulation you'll need to move jobs out with them. There's space throughout the UK to build homes for all the excess South Easters, but there isn't work for them. They'd need to bring their jobs with them

rictus123

Page 2 of the thread, jackieb and hamish talk about jackies son saving for a deposit and how he could get somewhere for 80k but hes saving for a bigger place etc but not wanting to go over 130k. Well im also in Aberdeenshire and iv got to say for a house or flat worth making a home(not cheap tat for renting out to students etc) you would be looking at between 110-130k at least. Alot of FTBs here are over 200k mark! Id know as i build alot of them in this area. Its not younger people getting them but it is first time buyers.

chucky

just seen this on another thread from Steviej - looks pretty affordable for London on a single or joint salary as an FTB property.

London Borough of Lewisham
Typical property: A one bedroom first floor flat in Lee. Price: £95,000.

London Borough of Newham
Typical Property: A one bedroom flat in East Ham. Price: £104,500.
http://timesbusiness.typepad.com/money_weblog/2009/07/the-top-ten-buytolet-hotspots.html

BitterAndTwisted

I wouldn't live in Lee or especially East Ham if you paid me and I'm living in Tottenham! Or 'Nam as one of my friends calls it...

chucky

BitterAndTwisted wrote: »

I wouldn't live in Lee or especially East Ham if you paid me and I'm living in Tottenham! Or 'Nam as one of my friends calls it...

so there is affordable FTB property but you choose not to live there.
that's not a dig at you btw.

jackieb

rictus123 wrote: »

Page 2 of the thread, jackieb and hamish talk about jackies son saving for a deposit and how he could get somewhere for 80k but hes saving for a bigger place etc but not wanting to go over 130k. Well im also in Aberdeenshire and iv got to say for a house or flat worth making a home(not cheap tat for renting out to students etc) you would be looking at between 110-130k at least. Alot of FTBs here are over 200k mark! Id know as i build alot of them in this area. Its not younger people getting them but it is first time buyers.

I'd agree with you there. He could probably get something for under £80k but I don't think anyone would want to live there. They're more for BTL's.

Keeley_p_2

Myself and the OH bought our first flat in August, 10mins walk from the centre of Edinburgh, 2 bed flat with private parking, £130k. But we were VERY lucky though. We turned up to look at some and it was like being an extra on Shameless...

BitterAndTwisted

chucky wrote: »

so there is affordable FTB property but you choose not to live there.
that's not a dig at you btw.

You have to weigh up the "investment" aspect against quality of life. The quality would be poor to ruddy dire in somewhere like East Ham, especially if you're considering raising children at some point in the future. I have a chum who bought in Canning Town as it was "affordable" but he sold up eventually after the third burglary and moved away to rent as the environment and the neighbours were so very sketchy. Luckily, I rent from the LA and have not bought my flat on the RTB either, despite living here for nearly 30 years.

rictus123

jackieb wrote: »

I'd agree with you there. He could probably get something for under £80k but I don't think anyone would want to live there. They're more for BTL's.

Somewhere for me and the gf that would have to be seen as less of an investment and more of a home, at least 2 bedrooms for the first kiddie(years down the line i admit) would be around £150k even

http://www-q.aspc.co.uk/cgi-bin/public/LiveProperty/276114?ID=FIGOKCEM#picture

£144k, not big or impressive or tidy by any means but a good area.

HAMISH_MCTAVISH

rictus123 wrote: »

Somewhere for me and the gf that would have to be seen as less of an investment and more of a home, at least 2 bedrooms for the first kiddie(years down the line i admit) would be around £150k even

http://www-q.aspc.co.uk/cgi-bin/public/LiveProperty/276114?ID=FIGOKCEM#picture

£144k, not big or impressive or tidy by any means but a good area.

Yes, but thats not what the thread is about, really.

I would view an FTB property as an entry level place for most people, ususally a wee flat in town, often before they've settled down. Not somewhere you'd keep for having kids in.

You've linked to a semi detached house in Aberdeenshires most expensive town.

To me, the point of an FTB place is that you can get on the ladder, and avoid wasting a decade of rent paying someone elses mortgage, whilst building up a nice chunk of equity to use as a deposit on your proper house later on.

Whereas it's becoming increasingly clear that nowadays, many people expect to skip this step and want a nice semi detached house as their FTB property.

Nothing wrong with that if you can afford it.... But not grounds for complaining prices are too high if you can't.