TV Expert

F_T_Buyer

I hear certain website have had a massive influx of bulls arguing house prices will continue to rise. I wonder why that is!

I bet the OP will have stopped posting by next week.


:rotfl: :rotfl: :rotfl:

melancholly

i'm just wondering how it would be possible to calculate the average price for first time buyers? does anyone even collect that kind of information? (i.e. are you asking for a figure that's even possible to get?!)

firespire

melancholly wrote:

i'm just wondering how it would be possible to calculate the average price for first time buyers? does anyone even collect that kind of information? (i.e. are you asking for a figure that's even possible to get?!)

Yes statistics are collected on everything - numbers of first time buyers, first time buyers deposits amounts, first time buyers mortgage amounts, first time buyers average salaries.

Some example articles -
No 1
No 2
No 3

Dan29

man-in-the-street wrote:

He then went on to discuss the plight of the first time buyer, saying the average house price in the UK was £180,000 (it isn't - it is currently £193,000), and that a first-time buyer would therefore need to be earning £50-60k.

I didn't see the piece on tv but wouldn't that figure assume that the first-time buyer hadn't saved up any deposit at all?

real1314

where I live starter homes are around £80k, a bit less if they need a bit of work.

Pretty much bang on for a couple earning £20k + £10k.

Apparently it's grim up north.

Gorgeous_George

The OP has a good point.

People on average salaries looking to buy an average house are, on average, likely to be trading up from an average first timer's average house. Therefore they should have equity from the sale of one house + a new larger mortgage (as they are likely to be earning more than when the were FTBers) to buy the more expensive expensive house. After a number of years, they will do this again to buy a better than average house.

A 2 bed flat in Yeovil Somerset can be had for £87K. Not bad even if it would have cost much less a few years ago.

We need hundreds of thousands of premature deaths through bird flu, war or famine to cause a significant crash. Interest rates alone will not cause a significant correction in the market.



GG

MortgageMamma

I live up North, Colne in Lancashire to be precise, and it really is grim in some bits. However, in some of the more average parts you can get a 3 bed terraced for 100k, a 3 bed semi for 120-140 and a 4 bed detached garage etc for around 160-250k. A quarter of what you pay in the south. So I suppose I am luckly, having much higher than average earnings, living in an area with much lower than average property prices. But do I live in a big flash house?

No

I live in a three bed terraced with a good size garden semi rurally.

Why?

Because there's so much more to life than the size of your house and keeping up with the jones's! You should all just get out there, stop fretting over house prices and have a good life!

clutton_2

"""Because there's so much more to life than the size of your house and keeping up with the jones's! ""

oh how much i agree with that sentiment !!!!


""You should all just get out there, stop fretting over house prices and have a good life! ""

hear hear or should it be here here - i never know !!!!

regularsaver1

can;t get a one bedroom flat near me for less that £100k

I'm in the South - very South

MortgageMamma

Its tough in the south I agree. But really, is renting THAT BAD? - I think if we saw a lot more long term tenancy agreements rather than silly 6 month shortholds, and there was a mroe formal structure for landlords to recognise and compensate on vacating for improvements to the property, then I think more of these poor FTB's who are stretching themselves to the limits to get on the ladder would be happier to wait. There is so much more to life than owning a house and making money - people should just get out there and enjoy every day the best they can - if I thought for a minute that NOT owning a house would improve my quality of life then I'd be more than happy to rent - In fact, I did rent once for 8 years