imaginative ways of getting on the housing ladder....

mynameisdave

Nationwide say £169K
http://news.bbc.co.uk/1/hi/business/10219681.stm
Goverment says 207K
http://news.bbc.co.uk/1/hi/business/10317283.stm

sjaypink

PasturesNew wrote: »

Maybe your search area's not large enough, or you're being too sniffy.



You're supposed to start in a slum and drag yourself up!

I'm really not being snobby, honest, any old 3 bed will do but do have a fairly limited search area, due to schools, jobs, childcare etc :cool: Surprised certain areas of ornwall are that cheap...

Anyway, enough about me :A....

....moving onto general discussion...



where have all the shared ownership properties gone? Its not just me/my town is it?

carolt

Cleaver wrote: »

Just looking at that graph again and it's interesting to note that house prices doubled from 1960 to 1970 then quintupled from 1970 to 1980. So if a house was worth £3,000 in 1960 it had rocketed to £30,000 just twenty years later. And yet we only see the last decade as the time when house prices went mental.

Isn't the average house worth about £160,000 now? If the same thing happens in the next twenty years as it did in the twenty year example above the average house will be £1.6 million in 2030. Can't see that somehow, but I'm sure your average person in 1960 didn't see it coming either...

That's high inflation for you ...or more specifically, high wage inflation.

What has made the last decade so unusual was that huge jumps in house prices were during a period of low inflation, when wage growth failed - by a long way - to match the rises in house prices, hence dramatically decreasing affordability.

Now I think many of us can foresee higher inflation being just round the corner. But higher wage inflation? That I see as rather less likely - in fact, with a rise in the tax burden imminent, I foresee the amount of disposable income people have to push at buying houses being reduced even further.

Which all points to lower house prices, not higher ones.

tomstickland

sjaypink wrote: »

am wanting personal advice on how a £30k total gross pa household can buy somewhere with only £10k dep and the cheapest possible suitable property being £150k..... :cool:

I've been looking at Rightmove quite a lot over the last few months and concluded that I was better off staying with my 1 bed flat. My monthly mortgage payments are slightly less than rental levels. To buy a half decent house even after lowering my expectations down and down would still end up costing more than double per month. I'd be looking at 40% of my monthly income going on the mortgage. I wouldn't mind if that meant a really nice area or house. But it won't. I'd mean a so-so area and a house that offered little over and above what my current situation offers.

I know loads of people in worse situations too.

So I guess that we're all going to continue sitting around watching and waiting. Eventually lack of first time buyers will have some effect. Maybe it'll be almost all rental, but some people are banking on selling and cashing in at some stage. I've no idea what'll happen, but I really wish we could have avoiding the totally stupid price bubble from the last few years.

PasturesNew

sjaypink wrote: »

Surprised certain areas of ornwall are that cheap...

Certain areas have always been cheap. Prices are usually work/transport related. Cornwall's been one of the poorest areas in Europe for some years now. However, I bet both those houses cost about £25-30k in 1997, so they don't look so cheap now do they!

sjaypink wrote: »

where have all the shared ownership properties gone? Its not just me/my town is it?

Snapped up! You missed the boat! Clearly.

What's happened is that the SO properties (30+) you saw before were sold since the developers moth-balled their sites.... and as they're not building any more (too poor/scared) there's a bit of a lull until they can find more lambs to slaughter.

PasturesNew

carolt wrote: »

That's high inflation for you ...or more specifically, high wage inflation.

What has made the last decade so unusual was that huge jumps in house prices were during a period of low inflation, when wage growth failed - by a long way - to match the rises in house prices, hence dramatically decreasing affordability.

Many jobs I did 20-25 years ago are still paying the same rate, for various reasons I won't go into except to say: PCs/technology and WTC.

I had a phone call yesterday from an agency re a permanent job, she told me the job title/role and I asked the wage. She told me. I said "NO. No. I won't do it. Don't put me forward..... I was earning more than that for roles less than that 20 years ago". And that's a mantra I could repeat about many, many jobs that are advertised today. She asked me how much I wanted to earn and I said "as much as I was earning 13 years ago" ... and she went quiet as she knew she didn't have a single job on her books at that rate ... and it's only about the national average, so not wildly mad.

For many roles there's been 0 wage inflation since the late 80s - and the number of those jobs has dropped by about 80% too.

PasturesNew

tomstickland wrote: »

So I guess that we're all going to continue sitting around watching and waiting.

It's either that .... or Post #3.

tomstickland

My days as a potential toy boy are over. Well, I think they are.

If I could find a woman stupid or clever enough to move in with me then I guess we'd have the economy of scale. I know a few people who put that above the strength of their relationship and ended up heading for an epic fail though.

About ten years ago I knew several people in average jobs who, as singletons, bought detached bovis homes without apprently struggling too much.
Nowadays you'd be paying around £190K for a similar property, which would mean around £1200 pcm on a repayment mortgage, ignoring any deposit problems.

I've been mildly depressed by it recently. I'd be quite content if I could find an unassuming property in a nice area. However, things aren't that bad; I'm thinking in a young person's survival mode and my quality of life is pretty good. But I can't see any way to progress until I meet this clever (or stupid) woman.

tommy75

tomstickland wrote: »

My days as a potential toy boy are over. Well, I think they are.

If I could find a woman stupid or clever enough to move in with me then I guess we'd have the economy of scale. I know a few people who put that above the strength of their relationship and ended up heading for an epic fail though.

About ten years ago I knew several people in average jobs who, as singletons, bought detached bovis homes without apprently struggling too much.
Nowadays you'd be paying around £190K for a similar property, which would mean around £1200 pcm on a repayment mortgage, ignoring any deposit problems.

I've been mildly depressed by it recently. I'd be quite content if I could find an unassuming property in a nice area. However, things aren't that bad; I'm thinking in a young person's survival mode and my quality of life is pretty good. But I can't see any way to progress until I meet this clever (or stupid) woman.

Don't worry, you will possibly be a 'dink' one day and when one becomes a 'dink' they are showered with estate agent phone love. Everybody else need not apply.

carolt

PasturesNew wrote: »

It's either that .... or Post #3.

Post 3 is out for me, as I'm married already. And let's just say I didn't marry for money!

So it's watching and waiting for me; plus upping my income.

Though if I work any harder I may pop. :eek: