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Debate House Prices
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Flamin' 'Eck, English House Prices Are Cheap.....
Generali
Posts: 36,411 Forumite
......if you ignore London and the South East.
If you have one person on the minimum wage and another on £25,000, servicing a mortgage on even the average house should be pretty straightforward as a couple without kids. By the time you get to FTB places/prices it shouldn't be out of reach at all.
I honestly never realised these were typical of prices outside London and the South East.
So the question has to be, why are prices so low compared to London? Is £25,000 out of reach for a large majority in large parts of the country for example?
The numbers are from the FT, I think quoting the Hometrack survey.
If you have one person on the minimum wage and another on £25,000, servicing a mortgage on even the average house should be pretty straightforward as a couple without kids. By the time you get to FTB places/prices it shouldn't be out of reach at all.
I honestly never realised these were typical of prices outside London and the South East.
So the question has to be, why are prices so low compared to London? Is £25,000 out of reach for a large majority in large parts of the country for example?
The numbers are from the FT, I think quoting the Hometrack survey.
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Comments
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these must be the worst houses they could find. Anything any good will cost more than that.0
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Thought the mantra in here was no-one could afford houses?Official MR B fan club,dont go............................0
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these must be the worst houses they could find. Anything any good will cost more than that.
You obviously don't understand the concept of "average".....“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I honestly never realised these were typical of prices outside London and the South East.
.
So what did you think the bulls were banging on about all this time, when we keep saying prices are affordable?
I've said it before, and I'll say it again.
Outside of London and the SE, anyone on the average wage can find a reasonable place within a reasonable commute of the vast majority of employment hubs in the country. At an affordable price.
The majority of posters that claim otherwise are suffering from the "champagne taste on a beer budget" syndrome.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
London's figures are skewed by those big gaffs the celebs live in. Outside of London you get £1million places, but not 20 in a road.... you get one every 10 miles or so.0
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I have said the area I now live in is more than affordable. Yes there are the odd highly unfordable towns dotted around, but in general £130K would get you a 2-3 bed semi in a good area. Not exclusive, but good.
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I have said the area I now live in is more than affordable. Yes there are the odd highly unfordable towns dotted around, but in general £130K would get you a 2-3 bed semi in a good area. Not exclusive, but good.
Same for me,whats the UK average £166k??.Its even possible to get a 2 bed terrace for £70k locally.Official MR B fan club,dont go............................0 -
Just had a look on right move. To buy a new build house (practically identical to mine) in Surrey its around £380-400k. Mine cost £110k in the North East. Amazing.0
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The word 'affordable' should be banned! Just because you can afford something doesn't mean I can, or vice versa. 20 years ago I was struggling to repay a £30,000 mortgage. Nowadays I would need a mortgage 4 times that but I doubt my income would be increased 4-fold!0
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The word 'affordable' should be banned! Just because you can afford something doesn't mean I can, or vice versa. 20 years ago I was struggling to repay a £30,000 mortgage. Nowadays I would need a mortgage 4 times that but I doubt my income would be increased 4-fold!
What word should we use instead? i'm assuming you get paid more now than 20yrs ago.Official MR B fan club,dont go............................0
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