An entire generation locked out of property ownership

mutter

Cleaver wrote: »

According to the ONS the mean average salary for Brighton is £26,102 and the median is £21,592. So most of the people in Brighton will be on over £18,500, but that's still quite a shockingly low salary for what I always thought was quite an affluent place.
I guess it's always going to be a place where wages are out of whack with house prices though as it's a first / second home choice for people in London. I suppose the property market in the area should really be considered against the backdrop of London wages.

If you work for a national organisation, Brighton wages will be the same as someone living in South Yorkshire.
I live 20 miles inland from Brighton, and work for a national retailer where wage settlements apply countrywide.
In recognition of the higher cost of living (I suppose) I receive 'Location Pay' which amounts to £33 per month before deductions, and which would boost my potential mortgage borrowing by about £1,500.

I know I sound like I'm a born whinger, and I understand that I and my kids and everyone else who lives in the so called 'Affluent South East' has a choice, but I do feel desperately sad for young people whose roots are here, and who have little hope of ever owning a little patch of it.

Percy1983

mutter wrote: »

If you work for a national organisation, Brighton wages will be the same as someone living in South Yorkshire.
I live 20 miles inland from Brighton, and work for a national retailer where wage settlements apply countrywide.
In recognition of the higher cost of living (I suppose) I receive 'Location Pay' which amounts to £33 per month before deductions, and which would boost my potential mortgage borrowing by about £1,500.

I know I sound like I'm a born whinger, and I understand that I and my kids and everyone else who lives in the so called 'Affluent South East' has a choice, but I do feel desperately sad for young people whose roots are here, and who have little hope of ever owning a little patch of it.

The same goes for many parts, I can see it locally with Saddleworth (the nice part of Oldham), many the there children are coming down the hill into the scummier parts of Oldham as they can't afford up there. With that its fully of NIMBYs up there so they will never build more houses..

ukcarper

mutter wrote: »

My parents moved here from York in 1968 and bought a bog standard 3 bed semi for the princely sum of £4,250!
We've just sold it for a little under £200,000 - the bottom end of the going rate for similar houses as this one had been neglected and needed a new bathroon, kitchen, windows and boiler, as well as redecoration throughout.

At the time, he was a skilled baker and confectioner - I just googled similar jobs and the going rate seems to be around £18 - £25k.
Mum didn't work.
There was no help from parents or anything.

There's no way a couple in similar circumstances could have bought their house now, so not surprisingly, it's been bought by a builder/developer who intends to bring it up to scratch and add it to his renral portfolio.

Prices in the Southeast increased dramatically in the early seventies prices doubled between the end of 71 and the end of 73 a much faster rate of increase than in the early 2000s, before people say inflation was high it was but not that high.