Bournemouth and Plymouth, 2 of the dearest house prices in the world

horngkai

http://www.moneyweek.com/news-and-charts/economics/global/moneyweek-map-the-worlds-dearest-houses-57620

ruggedtoast

I am one of the few people not born in Saginaw Michigan, who has been to Saginaw, Michigan.

I find it hard to believe it is one of the costliest places to buy a house, although relative to the average wage in the depressed local economy I guess it may be.

Bournemouth is crazy expensive, but thats due to all the retirees from London with their fancy wallets.

ukcarper

ruggedtoast wrote: »

I am one of the few people not born in Saginaw Michigan, who has been to Saginaw, Michigan.

I find it hard to believe it is one of the costliest places to buy a house, although relative to the average wage in the depressed local economy I guess it may be.

Bournemouth is crazy expensive, but thats due to all the retirees from London with their fancy wallets.

I think you read that wrong and it's the cheapest.

I assume Bournemouth includes Sandbanks and I wonder how it would compare without it.

worldtraveller

The full survey can be found HERE (pdf)

Housing in the United Kingdom remains severely unaffordable, which is consistent with its long history of more restrictive national land use policies.

The United Kingdom has a Median Multiple of 5.1, more than 60 percent above the historic maximum norm of 3.0.

Housing had been affordable in the late 1990s, with a Median Multiple of under 3.0. Today, there are no affordable markets in the United Kingdom.

Among the major markets, Plymouth & Devon was the most unaffordable, with a Median Multiple of 7.4. London (the Greater London Authority) was second most unaffordable, with a Median Multiple of 6.9, while the London Exurbs (East & Southeast England) was third most unaffordable, with a Median Multiple of 6.4.

Bournemouth & Dorset was by far the most unaffordable of all markets, with a Median Multiple of 8.7. Swindon & Wilshire was the second most unaffordable market outside the major metropolitan areas, at 7.0.

Davesnave

I go to Bournemouth frequently and I fail to see why anyone would wish to retire there. There are 'nice' parts, but much of it is anonymous sprawl.

As for Plymouth, again there are many pleasant areas, but also some very deprived parts. Better value/conditions could again be found in the hinterland, or in the neighbouring South Hams.

I prefer to live in a less tourist-orientated area, where there are fewer holiday homes and community spirit abounds. I've walked around the posh, gated areas of Bournemouth and seen no one else doing similarly, whereas it's impossible to move 100m in our local town without several people saying "Good morning."

Must admit, I haven't tried that in Sandbanks, but I don't think I'd hold my breath waiting for it to happen!

nickmason

ukcarper wrote: »

I assume Bournemouth includes Sandbanks and I wonder how it would compare without it.

Actually, given the presence of Plymouth on there, I wonder whether the "devil in the detail" is that the metropolitan regions include the nearby rural areas. So run down towns with low incomes surrounded by high value rural properties will be over-promoted.

nickmason

nickmason wrote: »

Actually, given the presence of Plymouth on there, I wonder whether the "devil in the detail" is that the metropolitan regions include the nearby rural areas. So run down towns with low incomes surrounded by high value rural properties will be over-promoted.

Thanks Worldtraveller for actually researching it and proving the point (Plymouth and Devon, Bournemouth and Dorset, etc) !!

lostinrates

Davesnave wrote: »

I go to Bournemouth frequently and I fail to see why anyone would wish to retire there. There are 'nice' parts, but much of it is anonymous sprawl.

As for Plymouth, again there are many pleasant areas, but also some very deprived parts. Better value/conditions could again be found in the hinterland, or in the neighbouring South Hams.

I prefer to live in a less tourist-orientated area, where there are fewer holiday homes and community spirit abounds. I've walked around the posh, gated areas of Bournemouth and seen no one else doing similarly, whereas it's impossible to move 100m in our local town without several people saying "Good morning."

Must admit, I haven't tried that in Sandbanks, but I don't think I'd hold my breath waiting for it to happen!

I agree with much of this . I actually actively dislike bournemouth!

ukcarper

I’m not sure about property prices in the rest of the world but this is only covers Australia, Canada, Honk Kong, Ireland, New Zealand, UK and USA.

Graham_Devon

<holds out cap>

HAMISH_MCTAVISH

Seems like plenty of 3 bedders for sale under the national average for ordinary people.

http://www.rightmove.co.uk/property-for-sale/Bournemouth/3-bed-houses.html?sortByPriceDescending=false

So presumably only ridiculously expensive when you include the multi-million pound mansions for rich retiring Londoners to the average and then compare that against the local wage.