House Prices Simply Too Expensive For The Young

Graham_Devon

PasturesNew wrote: »

And they could cycle to work each day and cabbie at night.
They're just too lazy!

Or quit their job in Cornwall, move to Edinburgh, and earn the average wage there.

Nevermind the fact that they would then face the same position of even higher prices, against their wages, thats irrelevant.

Londonsu

doire wrote: »

Would you live in that dump? What about FTB who have a family or plan to have one?

Thats a hell of a lot better than the first place I bought as a FTB
Not forgetting the armed police raid over the road, the rape/murder down the road and the race riots within 10 minute walking distance all within the first 6 months

So yeah I would expect todays FTBs to live in a place like that if that was all they could afford

Derivative

I'm not a homeowner but I've never understood the problem with saving a deposit. Saving 15-20% of income pa isn't a ridiculous amount if you cut back on things like petrol, gifts at christmas and buying coffees from Starbucks. Start at age 25 and have a house by 35.

Of course if you have a low income that's a problem. But you should then point the finger at the minimum wage or employers I believe. £15k is a reasonable amount to live on up North, I could save the rest without TOO much issue.

North/South divide is a bit tangential. It is silly that 40k could buy a 2 bed terrace outright in my hometown, while not pay for a deposit on the same house elsewhere.

ukcarper

ultrawomble wrote: »

Indeed.

Re: your previous point - a quick look at the latest Halifax data does show that average house prices were 3.25-3.5X average earnings in 2001, whereas the 2010 numbers are 4.5-4.7X. Just about evens above and below on that score.

According to latest Halifax release it’s now 4.46x so not much in it and house prices still about 12% above long term average or need to drop just over 10%.

ILW

I am not a FTB but think it is jolly unfair that I cannot buy a house in Chelsea. Who can I complain to?

geoffky

ILW wrote: »

I am not a FTB but think it is jolly unfair that I cannot buy a house in Chelsea. Who can I complain to?

conrad,,,:rotfl::rotfl::rotfl:

ManicMum

doire wrote: »

Would you live in that dump? What about FTB who have a family or plan to have one?

Hang on, it looks dated but it looks clean and that is the difference. Hope that isn't anyone on here's property.

PasturesNew

ManicMum wrote: »

Hang on, it looks dated but it looks clean and that is the difference. Hope that isn't anyone on here's property.

I wish, it's more modern than where I am right now.

B_Blank

I think Conrad is trolling to be honest. Doubt he is being serious in this thread.

Let me explain why....he simply posted a load of FTB properties which are £85k. The basic problem is £85k is alot of money, in fact it is about 3.5x average salary. This is the long term average for house prices. He posted bottom end houses for what the AVERAGE property should be.

Let me put it another way...the average FTB property shouldnt be close to 3x average salary. FTB properties are traditionally bottom end and SHOULD be about 1.5x-2x the AVERAGE WAGE of the population (because FTB will have less time to save up and will be on less money - i.e. the average 50 yr old is on more money than the average 25 yr old). Thus you should be able to get FTB properties for under £50k in most areas of the UK with relative ease. Unfortunatly this isnt the case, and this is the problem.

So basically conrad is proving the point of the article I guess, but I suspect he is just trying to troll you all!

B_Blank

alexlyne wrote: »

So an 'average' ftb can't buy an 'average' house.
Since when do ftbs aim to buy an 'average' house as their first?
This post could have been created any time in the last 3 years.

Find the average wage of a 25 year old then come back and tell me that £100k is cheap for a FTB property