Housing in South West now 11.6x average salary

System

Cleaver wrote: »

I agree with all of this. But if that's the market price then presumably someone who can afford it will buy it

That's the point Julie made that was apparently so obvious it should be laughed at and made reference to multiple times.

Graham_Devon

Cleaver wrote: »

I agree with all of this. But if that's the market price then presumably someone who can afford it will buy it, so this dude can't. In the North West, where salaries are much the same, a one bed flat can be had for £50k as there isn't the same demand.

I know that isn't a 'solution' or anything, but isn't that just the way it is?

Yep. I agree.

Infact I agree totally.

What I don't agree with is that we expect too much. Cus I don't how much less you can possibly expect! This hasn't come from no where, this has come from Conrad et all suggesting theres not a problem and it IS affordable.

I agree with you in that it's just not and the above situation wouldn't be do-able in the first place. But Conrad, the mortgage advisor (!?) appears to think it isn't a problem, it can be done, just don't expect too much.

Going4TheDream

Graham_Devon wrote: »

So you think a one bedroom home, which has no garden and 3 rooms, and no real employment prospects, unless you travel a good 40 miles each way each day, at 8x average income, is good value?

Or maybe not good value, but you don't think people should be entitled to suggest that could be problematic?

Yes it could be problematic for someones needs it doesn't meet?

Buying a home is a personal thing and different people will have different requirements, what doesn't suit one may well suit another?

Cleaver

Graham_Devon wrote: »

Yep. I agree.

Infact I agree totally.

What I don't agree with is that we expect too much. Cus I don't how much less you can possibly expect!

I agree. I think there are some areas of the UK - South West, London, parts of the South East, some parts of Chesire etc. where it's simply impossible for the normal, local population to buy a property. Nothing about expectations, it's just impossible.

sjaypink

Cleaver wrote: »

I agree with all of this. But if that's the market price then presumably someone who can afford it will buy it, so this dude can't. In the North West, where salaries are much the same, a one bed flat can be had for £50k as there isn't the same demand.

The only person who could obtain funding, and who would actually want to jump in there & buy at that price, will be a BTL LL, no doubt.

I will not waste my time checking what the market rent would then be, but is a guess of £500pcm out of line?

On that basis (he still needs somewhere to live), our man will now only have £214 per month left - after paying his £500 pcm rent to LL.

Well, not quite, 'cos on these figures - £17k pa gross, £500 pcm rent, you are entitled to £0.56 per week housing benefit. So that should help

Lovely. Shafted either way.

ukcarper

In Hampshire http://www.rightmove.co.uk/property-for-sale/property-30644173.html?premiumA=true which with a 10% deposit would give a mortgage of £821 a month. Median full time wage for Aldershot would get you £1823 a month take home so doable I would say. I think it is probably worse in Devon and Cornwall that most of the country.

By the way that house is a very easy walk to a station 45mins from Waterloo and is in Surrey.

Cleaver

sjaypink wrote: »

The only person who could obtain funding, and who would actually want to jump in there & buy at that price, will be a BTL LL, no doubt.

I will not waste my time checking what the market rent would then be, but is a guess of £500pcm out of line?

On that basis (he still needs somewhere to live), our man will now only have £214 per month left - after paying his £500 pcm rent to LL.

Well, not quite, 'cos on these figures - £17k pa gross, £500 pcm rent, you are entitled to £0.56 per week housing benefit. So that should help

Lovely. Shafted either way.

I guess so. You then live at home or rent a flat with someone else. And a couple or a person with more money buys the place.

Graham_Devon

Cleaver wrote: »

I guess so. You then live at home or rent a flat with someone else. And a couple or a person with more money buys the place.

Someone with more money I should think, like a BTL.

Can't really see a couple buying it, it's just not suitable really. Not at that price anyway, and price makes all the difference.

wotsthat

Graham_Devon wrote: »

Can't really see a couple buying it, it's just not suitable really. Not at that price anyway, and price makes all the difference.

GD - conrad said this about 100 posts ago

Homing in on one property when you must full well know there are plenty of decent affordable homes in the area, is a diversionary tactic - I predicted to myself you would do this as you used this tactic last time I posted up property to dispell your myths - you recall you focused in on one concrete property and used this to discredit my evidence even thoug nI posted up many other perfectly decent AFFORDABLE properties.

You are still banging on about that single property as if that gives a complete overview of the SW. No wonder you think things are worse than most. Look it's tough out there and it looks like it's particularly tough for younger people in the SW.

Yes we could tax BTL/ 2nd homes etc. as if that's a magic bullet (which I don't think it is) and hope that it helps. Builders aren't building enough houses so I don't see how a government policy to reduce prices will help. Apart from minor changes like removal of council tax discounts for second homes etc. it's very unlikely to happen.

So what are the options that are really available? Well if buying is very important to someone then it's earn more or move out of the area. I'm not trying to be flippant but what else is there?

Graham_Devon

wotsthat wrote: »

GD - conrad said this about 100 posts ago

Conrad was quite happy to focus on certain houses. We had several poists of just that, posting up individual houses.

It was only when picked up he changed his stance.

If you are going to pick me up for focusing on an individual house, why not look at the person who actually posted the individual house to suggest things were OK in the first place?

I've since applied figures. So you have changed your stance again. Oh crap, he's proven his point. Better make out he's negative by talking about one house....a house that was posted to suggest he's negative.

I've since been told I expect too much, so I've asked how I can expect less. No one of coure has answered. Just changed tact.