How much is an FTB property where you live?

chucky

HAMISH_MCTAVISH wrote: »

So did you plan to contribute anything to this thread, or just sit on the sidelines making sarcastic comments?

Still waiting for your town or county....

he's a unix developer from the north east, tyne and wear to be exact

HAMISH_MCTAVISH

chucky wrote: »

he's a unix developer from the north east, tyne and wear to be exact

Cheers.

I know nothing about Tyne and Wear, could someone pop up a Rightmove link with a typical FTB property price?

sjaypink

nearlynew wrote: »

And when older people (and some younger ones) say..........

" it was always hard to buy your first property"

"we started off somewhere dingy" etc.

This is the equivalent type of place they would be buying (the one in cleaver's post#15)

However, in those days your neighbours would be doing similar. Or even if they were renting they would have decency, manners and self-respect.

Today moving into that type of house would be hell. Surrounded by druggies, thieves and thugs.

Don't quite want to thank you for this, but I get you

Although, what I don't get is the idea that people have always bought little flats as a 1st time buyer. My parents and my in-laws both bought 3 bed houses? Don't know anyone who bought a flat. My godmother bought a 1 bed house, because she was single no kids...

But then, there weren't even any flats around here then- the only flats here prior to the 90s were all council (or a handful private above shops). perhaps thats just regional though....

...And I accept that society has changed/ is changing. Not saying any of the above is right or wrong- just different.

And I will say my parents had that house for 5 years before I was born, but still my first memories are of my father installing a kitchen and heating. They apparently had deck chairs for over a year until someone gifted them some old sofas....

...Things are very different now- you cant directly compare I don't think :A

Emy1501

HAMISH_MCTAVISH wrote: »

Thanks for that, so the cheapest one bed in London in an acceptable area is around 150K, and as posted earlier, the cheapest in a bad area is around 100K.

So far in this thread, London and the surrounding area is the only area where FTB property prices seem to be at or above the 133K figure used by the Halifax to measure affordability by area.

Does anyone have any other examples?

But a FTB property is not always a 1 bed flat.If you are a young couple who want kids why would you buy a 1 bed flat? My parents first property was a 3 bed house. Mine was a 2 bed House. Many 2 bed houses especially new builds are sold a starter homes.

chucky

sjaypink wrote: »

...And I accept that society has changed/ is changing. Not saying any of the above is right or wrong- just different

mortgages wouldn't have been available to the number of people that can get one now, that's the principle reason that people didn't own. if finance was house prices would have shot up.

chucky

Emy1501 wrote: »

But a FTB property is not always a 1 bed flat.If you are a young couple who want kids why would you buy a 1 bed flat? My parents first property was a 3 bed house. Mine was a 2 bed House. Many 2 bed houses especially new builds are sold a starter homes.

an FTB property is whatever is affordable at the time.

you can't expect an FTB to able to afford a 3 bed detached house, it's not the most realistic or most common of situations.

sjaypink

chucky wrote: »

mortgages wouldn't have been available to the number of people that can get one now, that's the principle reason that people didn't own. if finance was house prices would have shot up.

I don't know the history of it all to be honest, but thought that mortgages for everyone was something very new- so was really surprised to find out my inlaws got a 100% mortgage in '83 (and thats with just one income)?

Don't know about my parents- this would have been late 70s. They both worked FT and I assume were gifted a deposit (I must remember to ask!) :A

Emy1501

chucky wrote: »

an FTB property is whatever is affordable at the time.

you can't expect an FTB to able to afford a 3 bed detached house, it's not the most realistic or most common of situations.

No but I know people who have bought 3 bed semis as their first home. The point is I doubt the Halifax figures are based on the cheapest 1 bed flat in any area.

To be honest a 1 bed flat is nothing more than an investment property. No real need to buy them apart from investment purposes.

Cleaver

HAMISH_MCTAVISH wrote: »

I know nothing about Tyne and Wear, could someone pop up a Rightmove link with a typical FTB property price?

Hamish, have you seen the film Se7en? If so, do you remember the bit where Brad Pitt and Morgan Freeman break in to the killer's house, but rather than finding him there they encounter thousands of notebooks, journals, photos and notes pinned to walls and on dusty shelves?

I imagine that maybe your place is similar. Notebooks detailing 3 bed detached places in Wales, countless journals documenting price changes in far off lands, polaroids of all of our properties with copious notes about our lives and backgrounds. All in a candlelit, dusty room heaving with shelves laden with property-related documentation with you manically, yet quietly, giggling to yourself in the corner.

Maybe a couple of heads in boxes dotted about, but I'm not sure about that yet.

chucky

Emy1501 wrote: »

No but I know people who have bought 3 bed semis as their first home. The point is I doubt the Halifax figures are based on the cheapest 1 bed flat in any area.

i don't disagree - it doesn't make sense saying that FTB's should buy a certain type of property. regionally different type of property is preferred by FTB's.

what ever is affordable is the best option. in 2007 an FTB may only afford a 2 bed flat, however in 2008 they may have been able to afford a 2 bed house. timing of your affordability is also important.