How much is 6,000 1968 worth in Home value

Waterlily24

Not sure if this is what you mean but we bought a house in 1968 for £5900 and today houses in the same road and approx the same size are on rightmove for between £450,000 and £500,000. This was North West Kent.

terrierlady

we were talking deposits etc, our grandson said it was so easy for you nan the house prices were cheap, i explained our first home was £6k in 1968 what our income was and how hard it was for us to get on the property ladder, dispite his better education etc he cant grasp the task was just as difficult if not more so in those days, we didnt have internet sites like this to help us or mums and dads who knew a little, most people i knew rented,

celyn90

I agree, my mum and dad sometimes talk about the struggle they had finding a deposit and the sacrifices they made to do that - and they also had to deal with crippling interest rates.

I don't think it is any harder these days, I just think people aren't willing to give up their lifestyle for it.

Waterlily24

Well I can sort of understand it. Like many we struggled to get the deposit together but in 1968 only the man's wage was taken into account for the mortgage. In those days you could only borrow 2 and a half times the man's wage . The interest rates were very high, much higher than they are today.

That was our first home but I honestly can't see how first time buyers (ie people with normal jobs and not highly paid) can afford homes there now. My hubby was a carpenter (shopfitter) and I was a clerk/typist. I've got no idea what a normal wage is down there now - lost track of such things when we retired.

In those days our monthly repayment could be no more than my hubby earned in a week.

Waterlily24

terrierlady wrote: »

Thanks for reply which varey as much as ours....our grandson was moaning about house prices and how easy it was for us!!!!! i earned £3.00 per week back then so yes it was a piece of cake i told him easy as pie.

Crumbs is that full time. I was earning £3.10s.0d in 1963 as an office junior. (my first job).

ukcarper

http://www.housepricecrash.co.uk/graphs-average-house-price-to-earnings-ratio.php


this link shows house prices to earnings


later dates available here


http://www.nationwide.co.uk/~/media/nationwide.co.uk/pdf/hpi/Nov_2013.pdf

pleasedelete

My house sold for £3k in 1968- we bought it from owners for £550k in 2006 and the last two to sell on our road were both £1million- they are all different but the least one has sold for is £840,000 is past 2 years.