Nationwide: +1% MoM +10.5% YoY

DaddyBear

Blacklight wrote: »

*sigh*

Once more then, just in case it manages to go in this time:

Couple A earn £30k combined. £30k x 3.5 = £105k + £15k deposit = £120k property! (payments of approx 1/3 of nett income on 25yr repayment at 7%).

£120k will get you a nice three bed terrace in Manchester (as an example).

I think your view is clouded by those first time buyers posting on HPC that want a palace as a first home instead of starting on the first rung of the ladder.

There really isn't a property price problem for first time buyers and I think if you actually told your average FTB who doesn't read gibberish posted on the internet by tin-foil-hat-wearing-loonies they'd wonder what the hell you were talking about.

Sigh.
So in your infinate wisdom, can you explain why the percentage of FTBers has fallen off a cliff, or why the average age of a FTBer is now approaching late 30's?

Really2

DaddyBear wrote: »

Sigh.
So in your infinate wisdom, can you explain why the percentage of FTBers has fallen off a cliff, or why the average age of a FTBer is now approaching late 30's?

It isn't that is only for people without parental help (I presume that includes inheritance)

The actual age is between 27-30 according to the CML. I am in my mid 30's so if it is late 30's what the hell were they doing 15-20 years ago? I purchased nearly 9 years ago I was 25.

http://news.bbc.co.uk/1/hi/business/8545906.stm

First-time buyers in the north of England were the youngest and paid the smallest deposits compared with other areas of the UK in 2009, lenders say.
People buying their first home were aged 27 on average in the north of England and in Yorkshire and Humberside.
Those in the North paid an average deposit of 19%, the figures showed.
First-time buyers were oldest on average in Greater London at 30, the Council of Mortgage Lenders (CML) said.

DaddyBear

sarkin1 wrote: »

On the south coast where I live, you can only get 1 bed flats for your scenario. Can you tell me what happens if they decide to have kids.

They stop working and get a free council house. There lies the problem.

Blacklight

sarkin1 wrote: »

On the south coast where I live, you can only get 1 bed flats for your scenario. Can you tell me what happens if they decide to have kids.

On the south coast wages are a lot higher...

dopester

Nationwide;s April 2010 figures might annoy some bears over at the other place, but not me - roll on rest of 2010. (Got to pick someone up - broken down).

Percy1983

People are forgetting the long term problems if people can't get housing.

As my mum keeps pointing out "I had you when I was your age".

Now both me and my financee are 26 and we aren't having kids until we have a house.

Yes this may not be the case with everybody but current house prices are causing a bigger generation gap as people just can't afford to have kids.

Dare I say the numbers may be picked up with the Chavs who have kids for a living.

In short this country is going to the dogs, any other country want 2 young people who have worked since they left school? I feel we maybe the odd ones out these days.

chucky

Thrugelmir wrote: »

Weak pound is attracting buyers from abroad to London. Some considerable interest from wealthy Greeks it seems.

a big assumption that is very, very wrong - similar to you claiming that the sales of BMW's was directly correlated to mortgage equity withdrawl

8,000-10,000 properties are sold each month in London.
lol - these are NOT going to be purchased by wealthy Greeks

i'm surprised that you didn't add that its prostitutes and drug dealers buying all the property to create the illusion

Really2

Percy1983 wrote: »

Now both me and my financee are 26 and we aren't having kids until we have a house.

Do you want them yet though?
We purchased when I was 25 but did not start to plan a child until I was 29.

I think the whole mentality of having children has changed I do not think that is down to housing TBH but more to the fact people want to get a lot of things done and see the world etc before having children.

If you don't feel you are ready or want to yet house or no house it is not the right time.

LizEstelle

Percy1983 wrote: »

People are forgetting the long term problems if people can't get housing.

As my mum keeps pointing out "I had you when I was your age".

Now both me and my financee are 26 and we aren't having kids until we have a house.

Yes this may not be the case with everybody but current house prices are causing a bigger generation gap as people just can't afford to have kids.

Dare I say the numbers may be picked up with the Chavs who have kids for a living.

In short this country is going to the dogs, any other country want 2 young people who have worked since they left school? I feel we maybe the odd ones out these days.

So that's, conservatively, 8 years that you '2 young people' have had the opportunity to save, perhaps 9 or 10 since people can leave school at 16.

Run it past me again how it is that you haven't managed to save a deposit on a starter home...?

Perhaps you were agonising over this total mystery at the pub or during your last foreign holiday..?

Some people might suggest that it isn't the 'country' which is going to the dogs, just some of the whingers who inhabit it...

DaddyBear

Percy1983 wrote: »

People are forgetting the long term problems if people can't get housing.

As my mum keeps pointing out "I had you when I was your age".

Now both me and my financee are 26 and we aren't having kids until we have a house.

Yes this may not be the case with everybody but current house prices are causing a bigger generation gap as people just can't afford to have kids.

Dare I say the numbers may be picked up with the Chavs who have kids for a living.

In short this country is going to the dogs, any other country want 2 young people who have worked since they left school? I feel we maybe the odd ones out these days.

People don't seem to get this, but it is becoming a huge problem.
The benefits bill in this country is out of control and getting worse. The number of people who are economically inactive is reaching astronomical levels. There are many factors contributing to this, and house prices is one if them.
It is seriously affecting social mobility and it's no wonder that low earners are not bothering to even try bettering themselves. A family needs to earn around 30k per year to be in the same position they would be on benefits.