Housing in South West now 11.6x average salary

the_flying_pig

HAMISH_MCTAVISH wrote: »

The only thing that will sort it is building an awful lot more houses.

Which won't happen if builders can't sell what they build, because of the mortgage famine.

by your logic might not the best thing to do be to knock most of the houses there down?

then prices will SOAR, builders will flock to build, everyone will be a winner.

nembot

HAMISH_MCTAVISH wrote: »

The only thing that will sort it is building an awful lot more houses.

Which won't happen if builders can't sell what they build, because of the mortgage famine.

They can't sell because they're too expensive, with prices driven upwards allegedly by the "selfish generation".

Doesn't take long to find out how true that statement is, reading this forum.

gailey_2

How do you define southwest?

its a broad area.

cornwall, dorset and devon have lot 2nd homes I guess which pushes prices up.
also quite rural anmd fewer job opportunities.

But look at bigger towns/cities southhampton, bournmouth, bath and bristol it varies on area.
Im bristol and schools are huge factor in prices here.

we rent as houses on our postcode similar 3beds as have 3kids are £180k plus.

we in our 30,s at moment hubbys working fulltime but to buy would need to save least 18k thats 10%deposit.

geneer

HAMISH_MCTAVISH wrote: »

The only thing that will sort it is building an awful lot more houses.

Which won't happen if builders can't sell what they build, because of the mortgage famine.

:rotfl:If course theres another mechanism by which builders can ensure they sell what they build. Something to do with the mechanism that links supply and demand I beleive.

House builders need to build and sell to survive.

At the moment they've dropped construction to a crawl, presumably to ensure they stay liquid. If they start selling faster they will build faster. And theres one way to ensure they sell faster.

doire_2

HAMISH_MCTAVISH wrote: »

The only thing that will sort it is building an awful lot more houses.

Which won't happen if builders can't sell what they build, because of the mortgage famine.

You can harp on and on about mortgage famine until the cows come home. Its not going to make the banks lend more.
FTB out there better wake up and start saving.

Conrad

Values seem pretty reasonable to me - incidentaly I have 4 young cousins down there none of whom had any issue buying a home.



Offers in Excess of £110,000
2 bedroom terraced house for sale Redruth, Cornwall

Located close to redruth town is this two bedroom, terraced house. Allocated parking space front and rear gardens, ideal investment opportunity or first time buyer. (9.2 miles from station)



Offers in Excess of £140,000
3 bedroom terraced house for sale Four Lanes, Redruth, Cornwall

Excellent opportunity to purchase a three bedroom property in the semi-rural village of Four Lanes close to local amenities and with good transport links. The property benefits from contemporary living accommodation and has been finished to a high standard. (contd...) (8.8 miles from station)



£110,000
1 bedroom house for sale Penryn, Cornwall

NO ONWARD CHAIN!! Miller Countrywide are delighted to offer this one bedroom, end of terrace house, situated in the heart of Penryn in an area favoured particularly by first time and investment buyers. (contd...) (2.6 miles from station



£110,000
1 bedroom house for sale St Day Road, Redruth, TR15

This is a one bedroom terraced cottage which is conveniently situated for Redruth town centre. The property comprises of a lounge and kitchen on the ground floor with the bedroom and bathroom on the first floor. (9.3 miles from station)




http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=STATION%5E3398&minPrice=80000&maxPrice=110000&radius=10.0

Graham_Devon

You see value in the first £110k "house"?

The sofa is in the kitchen.

I love how it calls one room the living area, breakfast room AND lounge. Very clever.

Not even a postage stamp of a garden.

Really2

From what I see the SW is retirement central.

There are many versions of the town I used to live in (average age 55) The young are not going to compete with people retiring there TBH.
I just shipped out

A) I wanted to bring a child up in an area with lots of other children, not a SAGA town.
I could get more for my money just moving ten miles or so away.


I should imagine the SW is as a main very much like any area where people like to retire to.
It has pretty villages people want to live in they become prohibitively expensive, these push up the average prices greatly.

There are cheaper less desirable areas, but the young don't really want to move to them.

I think this is a difference between previous generations, people of my parents age would move 20 miles+away to get housing, and that was a time when traveling was not as easy or reliable.
Now there seems to be a swell towards that you should not have to move.
I am not saying that is a bad thing, but the reality will always be that houses in the most desirable areas will always go to the richest.

The only way that will change is if the younger stop trying to compete and just leave the towns to it. Gradually they will go down hill as they have an unsustainable population and will fall over time.

Conrad

Graham_Devon wrote: »

You see value in the first £110k "house"?

The sofa is in the kitchen.

I love how it calls one room the living area, breakfast room AND lounge. Very clever.

Not even a postage stamp of a garden.

Plenty of ftb property to be had a attainable prices. When I was a ftb it was absolutely normal to buy a studio / a 1 bed house etc. Young buyers from Tokyo to Tashkent happily make do with 25m2 property for a while. I know Berlin property weell and a 30m2 studio is perfect for many a young German.

What is thier wierd entitlement notion that you are positing?

Graham_Devon

No need to try to turn it around into a stupid boomer entitlement "kids want it all" argument.

I was just asking if you seriously see value in that first 1 bed house, up for 110k. Bet you wou;dn't buy it to live in, but then your alright ta very much jack.