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Debate House Prices


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Land Registry - January up 1.1% mom

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Comments

  • Percy1983
    Percy1983 Posts: 5,244 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    RenovationMan wrote: »
    Just two questions...

    1. How much of a deposit did you put down when you bought your house?
    2. How long did it take you to save for that deposit?

    1, £9300.00
    2, About 8 months
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    Percy1983 wrote: »
    1, £9300.00
    2, About 8 months

    Pretty good going.
    You were able to save £1,162 per month.

    With average houses at £160k, is it that unrealistic for a 10% deposit to take just over a year to save for?

    Considering that there have been 4 years since the start of the correction, many will have had plenty of opportunity to save and also will have benefited from drops in some areas.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    Percy1983 wrote: »
    1, £9300.00
    2, About 8 months

    What percentage deposit does that represent?
  • Percy1983
    Percy1983 Posts: 5,244 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    RenovationMan wrote: »
    What percentage deposit does that represent?

    10% of course I haven't included fees etc.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    Percy1983 wrote: »
    10% of course I haven't included fees etc.

    So much for all the 'priced out' and 'the lost generation' rhetoric. 8 months to save a deposit and a house is bought. Simples.
  • DaddyBear
    DaddyBear Posts: 1,208 Forumite
    RenovationMan wrote: »
    Perhaps this will change once you buy.

    I bought 2 years ago.
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    DaddyBear wrote: »
    I bought 2 years ago.

    Just two questions...

    1. How much of a deposit did you put down when you bought your house?
    2. How long did it take you to save for that deposit?
  • DaddyBear
    DaddyBear Posts: 1,208 Forumite
    RenovationMan wrote: »
    So much for all the 'priced out' and 'the lost generation' rhetoric. 8 months to save a deposit and a house is bought. Simples.

    Depends on the area you live in. South of Coventry £90k wouldn't buy you a garage, and the higher rents vastly reduce disposable income.
  • shortchanged_2
    shortchanged_2 Posts: 5,546 Forumite
    RenovationMan wrote: »
    So much for all the 'priced out' and 'the lost generation' rhetoric. 8 months to save a deposit and a house is bought. Simples.

    Isn't this McTavish's mantra as an excuse to open the credit floodgates again?
    Why are we here?......................because we are not all there.
  • RenovationMan
    RenovationMan Posts: 4,227 Forumite
    shortchanged wrote: »
    Isn't this McTavish's mantra as an excuse to open the credit floodgates again?

    I don't know, you'll have to ask him that.
This discussion has been closed.
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