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

Graham_Devon

HAMISH_MCTAVISH wrote: »

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.

You need to look at the wages also however.

They will be considerably under national average.

MrRee_2

I think Bournemouth is a wonderful place ..... yes, it is full of winners - of course - and they don't tend to be that chatty.

It's where I have been trying to buy a retirement place for 3 years ... in 2009 I thought the prices were going to continue falling, of course - they didn't!!

Today, 2012, the prices (if anything comes to the market) are 20% UP on 2009!!

I called it wrong, should have grabbed in 2009 - but didn't ....... missed the boat on that one!

HAMISH_MCTAVISH

Graham, I don't doubt that it is on the whole more expensive than other areas with similar local wages as I understand it attracts a lot of better paid people from elsewhere to live there, or buy a second house there.

But there will always be places like that, particularly in seaside towns, and unless you can build more houses on the cheap and sell them only to locals, then the solution is usually for local people to move to nearby areas where prices are cheaper.

Are you telling me there's nowhere within say a 45 minute drive of Plymouth or Bournemouth where cheaper housing exists?

Itismehonest

Personally I wouldn't live in Bournemouth or Plymouth if you paid me but it would be a sad thing if we all liked the same thing.

Every town has it's dearer & cheaper areas. In the cases of Bournemouth & Plymouth the upmarket (read pricier) areas are outside what most people think of as the towns themselves.

What makes these towns amongst the dearest is purely the cost of a home in relation to the average wage in the area. In turn that average wage is pushed up by the few who earn large wages. In reality a large proportion of people there probably work for NMW or just above.

Mr_Mumble

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

You've misread the chart, ruggedtoast. The numbers in red are the cheapest places to buy housing.

(A quick perusal of the census stats on wikipedia is telling. The city going from a pop. of 60K to 50K between 2000 and 2010 with the percentage of whites (excluding latinos) falling from 47% to 37%. "White flight" is as obvious as ever but no longer mentioned by the media).

Graham_Devon

HAMISH_MCTAVISH wrote: »

Are you telling me there's nowhere within say a 45 minute drive of Plymouth or Bournemouth where cheaper housing exists?

If I was, I would have said that.

I was responding to your point, which was basically dismissing the article based on the few 150k plus houses you found for "normal" people.

These "normal" people will be earning 18-25k in "normal" circumstances.

ukcarper

Graham_Devon wrote: »

If I was, I would have said that.

I was responding to your point, which was basically dismissing the article based on the few 150k plus houses you found for "normal" people.

These "normal" people will be earning 18-25k in "normal" circumstances.

According to Land Reg. Average property price in Plymouth is £125k it’s £139k for a Semi and £117k for a terrace.

According to ONS Median salary is £19.8k for all and £26k for full time male.

HAMISH_MCTAVISH

ukcarper wrote: »

Average property price in Plymouth is £117k for a terrace.

According to ONS Median salary is £26k for full time male.

Slightly over 4 times income.

Hardly worthy of making the top 10 most expensive markets in the world then....

the_flying_pig

coincidence that the 10 most 'expensive' are all basically, in one way or another, at the seaside?

Itismehonest

the_flying_pig wrote: »

coincidence that the 10 most 'expensive' are all basically, in one way or another, at the seaside?

No, there's no coincidence. Seaside is a bit of a premium but tourism (which can be the largest employers in such places) are mainly NMW, part time, seasonal jobs.