Average family will have to save for more than 30 years to raise first deposit

Buy_It_Now

quantic wrote: »

Additionally, this might be a very naive view, but I always thought it was best to save up for a house BEFORE having the family?

Tell that to the single parent, benefit scroungers given council housing.

ukcarper

DaddyBear wrote: »

The average age of a first time buyer is mid thirtys. Many don't want to risk waiting that long..... Increased incidence of birth defects, higher miscarriage rates, bigger maternal risks, risks of infertility..... Etc.
This is the sad state the country has been left in because of ten years of stupidity.

Perhaps you should ask yourself why if you start work at 22 it is quite feasible to save a deposit before you are 30.

marlonthemagnificent

ukcarper wrote: »

Perhaps you should ask yourself why if you start work at 22 it is quite feasible to save a deposit before you are 30.

you live in a dream world my friend....

ukcarper

marlonthemagnificent wrote: »

you live in a dream world my friend....

Why is that all my family the oldest being 36 have had their own homes for at least 5 years as is the case for most of their friends.

marlonthemagnificent

ukcarper wrote: »

Why is that all my family the oldest being 36 have had their own homes for at least 5 years as is the case for most of their friends.

you must live in a very cheap area of the country

try do that inside the M25...or in surrey....or hamsphire

ukcarper

marlonthemagnificent wrote: »

you must live in a very cheap area of the country

try do that inside the M25...or in surrey....or hamsphire

I live in Surrey but my family has moved just outside. I was born in Surrey one of the most expensive parts and had no chance of buying there so I moved 20 miles down the road.

macaque_2

Graham_Devon wrote: »

To be fair, £125k isn't the average house either.

Infact it's below the average FTB house, which, last time I read, was £136k.

Good point. Added to this, the analysis is also based on the false premis that the average FTB house meets the needs of the average first time buyer of today.

A average first time buyer of today is over 35 and a tiny 1 bedroom flat with paper thin walls is about as useful as a motor boat to a cattle farmer. To meet the needs of the average first time buyer will probably require a property in the range of £200-300k.

An don't me started about ladders in a climate of low house price inflation. If you try to aspire to a bigger house by trading up, all you are doing is throwing money away on stamp duty, estate agent fees and lawyers.

Badger_Lady

marlonthemagnificent wrote: »

you live in a dream world my friend....

LOL I'm 28 and have had one since I was 22 (and no I didn't have help)

marlonthemagnificent

ukcarper wrote: »

I live in Surrey but my family has moved just outside. I was born in Surrey one of the most expensive parts and had no chance of buying there so I moved 20 miles down the road.

i work for one of the UK's biggest companies

our graduates start on 28k...which must one of the best graduate salaries around...and way, way above the national average....but they are amongst the best graduates in the country and go through a rigorous selection process

on average, i'd guess they are paying about 700pcm on rent (to even rent a room), 200pcm on bills and another 200pcm on travel....then they have to repay their student loans (as they are above threshold)......that's before they have eaten, bought clothes or done anything else........so they ain't got much left to save.....and they are the amongst the top paid young people in the uk

so how do the rest save to buy...?

macaque_2

Badger_Lady wrote: »

LOL I'm 28 and have had one since I was 22 (and no I didn't have help)

Well done!