Homes in the UK still very cheap/affordable

cells

cells

In 8 regions (N-Ireland, NE, Wales, NW, Scotland, York&Hum, E-Midlands, W-Midlands) the average terrace property has a monthly mortgage cost similar to or less than the local council property rents. And remember this is purchasing a house with the monthly cost while the council rents are just to rent and those social rents go up yearly too.

In those 8 regions the average terrace costs only 9-14% of a full time working couples post tax income for 30 years and then 0%

Property in those 8 regions is cheap/affordable to very-cheap/very-affordable

zagubov

It's good that they're cheap and affordable. Seeing as how compared with much of Europe, they're also a bit rubbish/tiny/badly designed.

seven-day-weekend

zagubov wrote: »

It's good that they're cheap and affordable. Seeing as how compared with much of Europe, they're also a bit rubbish/tiny/badly designed.

We don't live in the rest of Europe so there is no point comparing them. The fact remains that for most of the UK, house prices are affordable.

seven-day-weekend

seven-day-weekend wrote: »

We don't live in the rest of Europe so there is no point comparing them. The fact remains that for most of the UK, house prices are affordable.

As an example : last year we sold our 3-bed Victorian mid-terrace house for £143k and bought a do-er-upper 1930s s/d 2-bed bungalow with a big garden in a nicer part of our city for £138k. (West Midlands).

We also bought a 2-year-old 2-bed flat on a new development with good transport links for £85k.

gfplux

All the prices look very attractive to me. I have Euros and dollars to spend and UK prices get cheaper and cheaper. Thank you Brexit.

pop_gun

Everything is affordable if you have the right job, for the right length of time.

Unfortunately many don't.

wymondham

But everyone wants to live in London as apparently no jobs are available or worth having anywhere else?

CLAPTON

wymondham wrote: »

But everyone wants to live in London as apparently no jobs are available or worth having anywhere else?

no, it just that a huge number of jobs making, serving and clearing up after coffee have been created in London. This has lead to a huge number of unskilled immigrants which have created huge demand for housing.

wymondham

CLAPTON wrote: »

no, it just that a huge number of jobs making, serving and clearing up after coffee have been created in London. This has lead to a huge number of unskilled immigrants which have created huge demand for housing.

probably true. This was never a problem in Victorian era when your servants lived in your basement..

[Deleted User]

pop_gun wrote: »

Everything is affordable if you have the right job, for the right length of time.

Unfortunately many don't.

Not to mention, if you don't have kids and any childcare expenses. Don't forget magically saving for a £15k-50k deposit whilst paying rent that is more than those mortgage estimates.