Homes in the UK still very cheap/affordable

cells

steampowered wrote: »

Social housing tenants have a right to buy their homes when they can afford to do so, no?

not if they are in Wales, Scotland, or in a housing association (although the Tories are slowly rolling out the RTB to HAs) and possibly even those who can will be bared from doing so if labor win the next GE

the social landlords also seem to put in the poorest into social homes, iirc something like 60% of social households do not have anyone who is working thus they cant buy

I also assume there are not that many mortgage lenders operating in the RTB sector although I have read that one is entering and will offer 100% mortgages on the discounted price

Certainly with an up to 70% discount it would make sense to buy with RTB if you can so I do wonder why so few RTB tenants are taking up the offer. The social stock is actually expanding contrary to popular belief. In London about half of all new builds are social.

the_flying_pig

cells wrote: »

I like the way you use no verbs, in the style of a newspaper headline, in the subject heading so as to imply that this is the view of someone writing for a credible publication of some kind.

Graham_Devon

the_flying_pig wrote: »

I like the way you use no verbs, in the style of a newspaper headline, in the subject heading so as to imply that this is the view of someone worrying for a credible publication of some kind.

I quite like the fact that theres no allowance for children and seemingly everyone works for the average wage, but looks to buy lower than average, mostly 2 bed houses.

Until there is an allowance for reality we'll never get anywhere.

The average wages are a bit dubious too - just taking the first line, google states that the average wage in NI is £21,836, which seems a bit more realistic. Cells puts it as £26,784. I'm sure figures out there suggest that, but the reality is that the majority won't achieve that....let alone both parts of a couple (who also have no children).

wotsthat

Graham_Devon wrote: »

I quite like the fact that theres no allowance for children and seemingly everyone works for the average wage, but looks to buy lower than average, mostly 2 bed houses.

Until there is an allowance for reality we'll never get anywhere.

The average wages are a bit dubious too - just taking the first line, google states that the average wage in NI is £21,836, which seems a bit more realistic. Cells puts it as £26,784. I'm sure figures out there suggest that, but the reality is that the majority won't achieve that....let alone both parts of a couple (who also have no children).

You're splitting hairs.

If home ownership is anything like a priority your people on average wages should buy a house. Even if, oh the horror, they are forced to buy a house which is less than average.

Renting and waiting for the time when average wages buy the average house will probably be a long term plan. Have average wages ever bought the average house?

hildosaver

You have the SE of England and then you have everywhere else and everywhere else in the UK (by and large) is fairly affordable in many areas. Living in Northern Ireland I could buy a terraced house walking distance (about 20 mins) from Belfast city centre for between 60-90k depending on where it is.


Outside of Belfast there are many areas you can buy a detached 3 bedroom house for £120k.


Personally I find it really strange how people even consider paying half a million quid on a tiny flat in London - even if you have a very good salary working in London, the mortgage payments on a property in london would probably mean the money you are left to live on is probably about the same or less than what you could have it you lived out of the south east on a lower paid job - plus you wouldnt have an absolutely enormous mortgage hanging over you for the rest of your life.


I find it truely baffling.

cells

Graham_Devon wrote: »

I quite like the fact that theres no allowance for children and seemingly everyone works for the average wage, but looks to buy lower than average, mostly 2 bed houses.

Until there is an allowance for reality we'll never get anywhere.

The average wages are a bit dubious too - just taking the first line, google states that the average wage in NI is £21,836, which seems a bit more realistic. Cells puts it as £26,784. I'm sure figures out there suggest that, but the reality is that the majority won't achieve that....let alone both parts of a couple (who also have no children).

The wages I posted were the median male wages. Median is an averaging whereby you take all the data and literally pick the one in the middle
That means exactly half the population earns more than that and half less than that. So you don't have an argument for that.

Your other argument is basically 'well people want and should be able to buy more than just a terrace'. That is clearly a silly idea because if first time buyers are buying the semis and detached homes or the 4 bed plus homes who is going to be buying the 80% of homes under that? Leave them empty knock them down? First time buyers should be buying less than the average house for.obvious reasons.


But thanks for the post you clearly prove that irrespective of price and affordability people will moan that its impossible

Graham_Devon

cells wrote: »

The wages I posted were the median male wages. Median is an averaging whereby you take all the data and literally pick the one in the middle
That means exactly half the population earns more than that and half less than that. So you don't have an argument for that.

I know what the median is, thanks. However, you aren't comparing two like for like averages by using this dataset. It's also a silly average to use when you then go on to describe the majority of people. The majority of people isn't measured by the median average. The majority of people are earning 5k less than your figures - so why not use them?

Your other argument is basically 'well people want and should be able to buy more than just a terrace'. That is clearly a silly idea because if first time buyers are buying the semis and detached homes or the 4 bed plus homes who is going to be buying the 80% of homes under that? Leave them empty knock them down? First time buyers should be buying less than the average house for.obvious reasons.

That's not my argument. My argument is that a two bed terrace (which the majority are) are not suitable for a whole host of average families. A family would be silly to buy a house which does not suit them.

But thanks for the post you clearly prove that irrespective of price and affordability people will moan that its impossible

Reality is a big consideration. Sorry for throwing it into the mix.

MobileSaver

Graham_Devon wrote: »

My argument is that a two bed terrace (which the majority are) are not suitable for a whole host of average families. A family would be silly to buy a house which does not suit them.

And yet my parents and indeed their parents seemed to manage quite well bringing up their kids in a two bed terrace (complete with outside loo in one case) ...

You've fallen into the "entitlement" trap espoused by the younger generation; nothing less than a bedroom each for your 4 and 5 year old children is even remotely acceptable for today's "young family."

CLAPTON

MobileSaver wrote: »

And yet my parents and indeed their parents seemed to manage quite well bringing up their kids in a two bed terrace (complete with outside loo in one case) ...

You've fallen into the "entitlement" trap espoused by the younger generation; nothing less than a bedroom each for your 4 and 5 year old children is even remotely acceptable for today's "young family."

that is of course true
near my home, is a house that in the late 19th centrury was one up one down : the census showed a family of with children lived there.

however, whilst this is true is is not the standard we would like.
there is no technical reasons why we can't have a higher standard of housing and no reason not to aspire to that.
In london and the SE one of the main factors stopping a decent standard of housing is the population largely fuelled by the immigrant population : I agree our mad planning rules and benefit rules also add to the problems.

cells

CLAPTON wrote: »

that is of course true
near my home, is a house that in the late 19th centrury was one up one down : the census showed a family of with children lived there.

however, whilst this is true is is not the standard we would like.
there is no technical reasons why we can't have a higher standard of housing and no reason not to aspire to that.
In london and the SE one of the main factors stopping a decent standard of housing is the population largely fuelled by the immigrant population : I agree our mad planning rules and benefit rules also add to the problems.

France also has a comparable migration scale yet they are able to more than meet housing needs by building close to 400k units ~120sqm average. The UK is closer to 180k units at ~75sqm. The migrants dont write the planning rules and regs its an issue down to the uk government