An entire generation locked out of property ownership

System

mutter wrote: »

it's hard to see how any single person in their mid 20s can get out of that cycle where their rent is eating up so much of their income that they can save anything like enough enough to buy a place of their own.

Not everyone in their mid twenties is earning £18.5k though are they? I don't mean to be harsh but that's a pretty low salary.

A single person on that kind of salary, living in the south east, probably isn't going to be buying a place of their own without a lot of help.

Percy1983

Joeskeppi wrote: »

Not everyone in their mid twenties is earning £18.5k though are they? I don't mean to be harsh but that's a pretty low salary.

A single person on that kind of salary, living in the south east, probably isn't going to be buying a place of their own without a lot of help.

Its a decent salary up here.

FTBFun

Percy1983 wrote: »

Its a decent salary up here.

Property is a lot cheaper though.

You live in Oldham don't you? Something like this for a similar price as that flat:

http://www.rightmove.co.uk/property-for-sale/property-19357108.html

Or this - needs some updating but its £50,000:

http://www.rightmove.co.uk/property-for-sale/property-28578107.html

Graham_Devon

Joeskeppi wrote: »

Not everyone in their mid twenties is earning £18.5k though are they? I don't mean to be harsh but that's a pretty low salary.

A single person on that kind of salary, living in the south east, probably isn't going to be buying a place of their own without a lot of help.

That kind of salary is £9.48 an hour on a 37.5 hour week.

That kind of salary is more than most admin type staff in the public sector.

That kind of salary is only £2 under what a registered nurse would achieve.

That kind of salary is just £1 lower than the starting salary of an officer in the MET police.

Just putting some perspective out there.

Percy1983

Exactly, its hard to say is a salary is good or bad, its all in relation.

The first one linked is the type of property we are looking at, but we are looking at the other side of Oldham towards Manchester (prices are the same).

chucky

FTBFun wrote: »

Property is a lot cheaper though.

You live in Oldham don't you? Something like this for a similar price as that flat:

http://www.rightmove.co.uk/property-for-sale/property-19357108.html

Or this - needs some updating but its £50,000:

http://www.rightmove.co.uk/property-for-sale/property-28578107.html

that shoots down in flames the claims that property is unaffordable...

ash28

Graham_Devon wrote: »

That kind of salary is £9.48 an hour on a 37.5 hour week.

That kind of salary is more than most admin type staff in the public sector.

That kind of salary is only £2 under what a registered nurse would achieve.

That kind of salary is just £1 lower than the starting salary of an officer in the MET police.

Just putting some perspective out there.

Is this the Metropolitian Police in London - if so you're miles off the mark. They all get a London Weighting.

Starting salary for the Met

• £28,605 on commencing service
• £31,176 on completion of initial 31 weeks' training
• £32,610 after two years' probationer training.

http://www.met.police.uk/careers/newconstable/pay_and_benefits.html

My daughter's partner is a policemen with the Met - he transferrred from Thames Valley for the money - he has free travel to and from his workplace too - he lives in Reading - so add at least another £5k onto that, his salary is £36k + travel (police constable).

Percy1983

chucky wrote: »

that shoots down in flames the claims that property is unaffordable...

If you all want to come in live in Oldhamistan...

By all means I have never argued that everything is unaffordable as it clearly isn't, but to say look there is a few houses you will never want to live in going cheap everything is now affordable is also false.

chucky

Percy1983 wrote: »

If you all want to come in live in Oldhamistan...

By all means I have never argued that everything is unaffordable as it clearly isn't, but to say look there is a few houses you will never want to live in going cheap everything is now affordable is also false.

of course houses aren't cheap. they never were.

but if you want to argue about everything else, just let me know

System

Percy1983 wrote: »

If you all want to come in live in Oldhamistan...

By all means I have never argued that everything is unaffordable as it clearly isn't, but to say look there is a few houses you will never want to live in going cheap everything is now affordable is also false.

Apart from when you said everyone in their 20s is priced out of the market. :cool: