Young people increasingly giving up on buying property

GunJack

westernpromise wrote: »

2 people saving £33 a week each for 5 years would have a £20k deposit. Reasonable chunk of change.

...until you factor in 5 years-worth of house price inflation, which would make it worth not-a-lot, certainly <10%, by then....

...they'd have to be wanting to buy in a "cheaper" part of the country....

cells

In the more expensive areas the limit probably isn't the deposit which can be as low as 5% but the income multiple.

GunJack

cells wrote: »

In the more expensive areas the limit probably isn't the deposit which can be as low as 5% but the income multiple.

combination of both, surely?

alberty

The solution to affordable housing in prime central london is clearly underground. I'm not the first to think of this. The rich are building iceberg houses in Kensington with 3 storey basements, they could do something like that. We might be culturally offended by the idea of running housing tunnels parallel to the northern line now, but millions of chinese live underground in Beijing already. They'd buy it by the mile, (noone would care they dont live in it,) pumping trillions into our economy, and the land is free to the government anywhere it chooses to dig. Seriously!