Rightmove March +1.6% MoM +6.8% YoY

chucky

Graham_Devon wrote: »

What was it in 1980? 1990? 2000?

The point made by the poster was that it was easier to buy. If this was the case, we should have seen a rise in home ownership.

If it's harder today, we should see a decline.

Picking two random points is a little pointless here. The trend is what matters.

How many times do we have to tell you that whenever house prices have been lowest, less people have been able to buy property. It's not that hard to understand...

It get's explained to you so often...

buglawton

ukcarper wrote: »

In 1971 home ownership was 50% in 2011 in was 64%

That's a statistic.
Now, what is the statistic for the average percentage equity in those homes? Otherwise that statistic may just be saying that there was more home ownership by banks.

chucky

buglawton wrote: »

Got to differ there, in the leafy Home Counties suburb I grew up in during the 60s major private housing estates were built. In moved a milkman, young teachers, a greengrocer, factory workers, aircraft fitter, lots of commuters typically aged around 30. The hard stats must be out there somewhere.

No HTB in those days but there was major tax relief on mortgage interest and big tax allowance if a spouse did not work.

The 'hard stats' are out there.

Unfortunately they don't back up your point.

moneyinmypocket

It's never been easier to buy a home. The real problem is expectation - most can't afford a 4 bed detached yet they think that's what they will start with along with running 2 cars, sky sub beer money etc

buglawton

That's sounds a bit cynical. So you are saying that most first time buyers are expect to start with a 4 bedroom house?

My memories from the 60s are at odds with the idea (one the current government would dearly like us to believe) that it 'has never been easier' now in 2014 to buy a home.

Are we all believing a 1984-style brainwash of statistics, that 'everything is better now'?

On top of the fact that ordinary young families were routinely buying 3 bed semis with big gardens as their first property, during the 60s, high quality council housing was was much easier to access.

ukcarper

I can't talk about the 60s but it certainly wasn't the case in the 70s and even though I was earning relatively good money I really struggled to buy. Although prices in relation to earnings are slightly higher now I would find it easier to buy now as I would be able to borrow more.


As for council housing it was easier to get than now but it was still very difficult to get the only way to get one where I was would be to have child and live with one of our parents.


I do agree that now is one of the hardest times to buy a property but prices are cyclical and the past was not always the rosy picture that is painted by some posters here including you.

92203

ukcarper wrote:

I do agree that now is one of the hardest times to buy a property but prices are cyclical and the past was not always the rosy picture that is painted by some posters here including you.

It's a valid point, and I don't envy those who had to face 15% interest rates in the 1990s either.

My girlfriend and I have spent the past 2 year saving for a house deposit. Before that she was training as a nurse, so money was pretty tight. We now have enough saved to put down 10% on a modest but pleasant property down in Berkshire (where I work), or somewhere bigger up in the East Midlands where we're originally from. We're currently trying to weigh up these two options against each other.

Contrary to the ignorant and needlessly provocative post by moneyinmypocket, we do not expect to own a 4 bed house, however we do NOT want to end up living amongst people who should be in the cast of the Jeremy Kyle show! We don't have a sky subscription, and nor to we squander money on frivellous and pointless gadgets (Games consoles etc), expensive clothes and holidays etc

I'm pleased that we've managed to save up our deposit. I'll be adding to it (c £1K PCM) until we decide where to buy.

We will be able to buy our house without our parents having to help us out and know that what we have is 100% down to our own acheivement and hard work.

chucknorris

moneyinmypocket wrote: »

It's never been easier to buy a home. The real problem is expectation - most can't afford a 4 bed detached yet they think that's what they will start with along with running 2 cars, sky sub beer money etc

I think it was much easier in the early 90's (and no doubt at other times at the bottom of the cycle). We've recently decided that the value has gone in London and therefore we will be not be buying a house there, so I really can't agree with you.

ukcarper

chucknorris wrote: »

I think it was much easier in the early 90's (and no doubt at other times at the bottom of the cycle). We've recently decided that the value has gone in London and therefore we will be not be buying a house there, so I really can't agree with you.

I think in some ways it was much easier to buy in 90s and at other times at the bottom of the cycle. But the ability to buy is not just a function price or even price to earnings as a lot of other factors such as job security as is demonstrated by small growth in home ownership in the 90s.

chucknorris

ukcarper wrote: »

I think in some ways it was much easier to buy in 90s and at other times at the bottom of the cycle. But the ability to buy is not just a function price or even price to earnings as a lot of other factors such as job security as is demonstrated by small growth in home ownership in the 90s.

I agree, but IMO in London right now prices don't represent value.