22 year average wait for FTB's

ukcarper

Graham_Devon wrote: »

The article is using the UK average.

With any average, you will always be able to find something under it. Which is what you have just done.

But every house in Hull will be under the average UK price.

Median wage for all in Hull is £16k with 10% deposit only 2.7x mortgage required for house linked to.

Graham_Devon

ukcarper wrote: »

Median wage for all in Hull is £16k with 10% deposit only 2.7x mortgage required for house linked to.

Is there something wrong with Hull?

ukcarper

Graham_Devon wrote: »

Is there something wrong with Hull?

Never been there but I believe it smells a bit.

Derivative

Graham_Devon wrote: »

The article is using the UK average.

With any average, you will always be able to find something under it. Which is what you have just done.

But every house in Hull will be under the average UK price.

Yes, but my point is that not only is it under the average, it is drastically so.

Hull is not an isolated example.
I think that trying to buy a home in the South East on a 'median' wage is rather daft.

Is there something 'wrong' with Hull? Yes - median wage there is far lower than in the SE. But house prices are not being skewed upwards by the influence of the M25 area or other huge cities.

Median wage for all in Hull is £16k with 10% deposit only 2.7x mortgage required for house linked to.

The house I linked to is not even the cheapest on Rightmove. If you look for a bit, you can find 35-40k. On £16k you could save that amount in 22 years and buy outright.

Is there something wrong with Hull?

It's basically a dead end town. But you're within commuting distance of say, York.

robmatic

flecker wrote: »

I'd hope that someone on 3x median income could buy with a 10% deposit and a 3.5x income.

My borough's Richmondshire in North Yorks. I was going by these figures:

http://harrogate-news.co.uk/2011/11/06/north-yorkshire-families-warned-looming-housing-crisis/

Richmondshire includes a large swathe of a National Park. It's a great example of a popular tourist/retirement area where local people employed in low earning sectors like agriculture or retail will struggle to buy, a bit like Devon. It's not terribly representative of the country or even the North.

yertiz_2

Percy1983 wrote: »

Self entitled pity? I haven't expected anything to be given to me and worked hard for what I have.

To be honest by the age of 29 I will be married have a home, be a qualified accountant and own my own business.

+ I have never been banned form the MSE forums...

Hows your life?



Don't worry I will pay back all the money its cost to bring me up, of course I won't forget to invoice my own children of course... oh wait.

I do feel kind of bad as my parents will have LESS money when I move out, but hey I can't keep them forever.

Well done Percy 1983 and very best wishes for the future, you deserve it :beer:

jimpix12

HAMISH_MCTAVISH wrote: »

Graham, your thread title is false..... Again.

It's not a 22 year average wait for FTB's.

It's a 22 year wait for low earners.

Graham has about as much right to mislead on this, as you do in your endless threads about "house prices" going up according to a bank or building society and then packaged up as gospel and fact.

Percy1983

yertiz wrote: »

Well done Percy 1983 and very best wishes for the future, you deserve it :beer:

Thank you very much, glad to see some sense on here.

It does seem I am slated if I do nothing and moan about the situation and slated if I do something about it and do well for myself.

It reminds me of a conversation on here a while, I was a man baby for staying at home while getting further qualifications and saving a house deposit, yet if I moved out and started renting I would have been classed as an idiot for paying a landlords mortgage.

Damned if I do, Damned if I don't. :rotfl:

Good job I am a happy person

Graham_Devon

Percy1983 wrote: »

Thank you very much, glad to see some sense on here.

It does seem I am slated if I do nothing and moan about the situation and slated if I do something about it and do well for myself.

It reminds me of a conversation on here a while, I was a man baby for staying at home while getting further qualifications and saving a house deposit, yet if I moved out and started renting I would have been classed as an idiot for paying a landlords mortgage.

Damned if I do, Damned if I don't. :rotfl:

Good job I am a happy person

Well, it's not too bad.

At least the upgrade to being a shallow moron for buying a house with a spare bedroom was a free courtesy upgrade

If you were just 20 years older, buying a house with an extra bedroom would have been the right thing to do. Even better if you have 3 bedrooms spare. Afterall, you deserve it, you worked for it. But as you are in your 20's, sorry....moron.

Percy1983

I really am a disgrace aren't I, my life so far is just baby > man-baby > shallow moron, I really haven't amounted to much.

Sorry I forgot I don't deserve to buy a bigger house because I am still young and have worked since leaving school.

How silly of me to plan for future family expansion now at the age of 28, I really must be a moran.