how is it hard for ftb to get onto the ladder in all places?

bs0u0128

one of my properties im selling is a 2 bed terrace, plenty of parking, 2 big bedrooms, bigger than some of my 3beds, and a yard, for just 116950 in northwales, and in a very high end part nr to where michael owen lives, surely thats affordable for people who want houses and not their dream mansion right away?

[Deleted User]

So... lets do 117k divide by 3.5 = 33.4k.. how many first time buyers in north wales have a salary of that?

bs0u0128

quite a few i would have thought, plus ur forgetting deposit, mummy and daddy for those who dont mind that, and if a couple buy surely? northwales isnt all a rundown shanty town u know lol there are some very prestigous places nr the border

pawpurrs

Not really, as you would need to be earning circa 30k, and thats higher than the average salary, wales is not a part where salarys are that great, and we are taking FTB ie young people, not average middle aged, so yes its still ridicioulous.

mrsc_4

I totally agree with what you are saying, when we were FTB we brought a one bedroom flat, we could have brought a house but decided to go for something cheaper which we could afford with ease.

My sister is 22 and alot of her friends are starting to buy property but they won't consider a flat they want 2/3 bedroom houses and don't seem to understand the cost implications they seem to want it all now.

I'm 26 and my Hubby is 33 but we wouldn't have done things any different as we're now in the process of buying a house as we've out grown our flat.

seven-day-weekend

On a multiple of 3 x joint income, my husband and I would only just be able to afford that on the joint salaries before we took early retirement (in 2004). He was a Teacher and I was a Local Government Officer.

bs0u0128

not at all, why assume everyone needs 100% mortgage? and in places of wales the salary is just fine, a whole country isnt the same throughout

yes prices in 2004 would be lower definitely, in 2004 the price i believe was around 112-114

seven-day-weekend

However, I agree that some parts of the country are cheaper than others and people really shouldn't be buying a house if they haven't got at least 5% deposit.

Don't assume all parents are in a position to help their offspring out.

sanfrancisco

Average wage UK £23.4k

Median wage UK £18.9k

Theres your answer.

MascaraMinx

why assume everyone needs 100% mortgage?

Because most FTB don't have savings or parents to hand over cash. I know I don't.

[Deleted User]

Isn't this the bit of the world where beach huts sell for 40k?

From the article:

Mr Brooks added that the average salary in the Lleyn Peninsula was between £13,000 - £14,000.