UK Affordability still very good

ukcarper

Graham_Devon wrote: »

There is though a table showing how much harder it it now compared to 22 years ago.

About a 3rd of the way down the page
http://www.bbc.co.uk/news/business-39778029

Mid 90s lowest price compared to earnings since 50s possibly earlier as no information on that, 95% and 100% mortgages available of course it's got harder since then.

westernpromise

Crashy_Time wrote: »

If the average person ever wants to sell their average little house they do. Sorry to burst your bubble :j

Why would they do that? They'd have nowhere to live unless they bought another hou-

Oh.

Windofchange

ukcarper wrote: »

Mid 90s lowest price compared to earnings since 50s possibly earlier as no information on that, 95% and 100% mortgages available of course it's got harder since then.

So Hamptons estate agents seem to have published some data which goes against the you can save a deposit in a year or two theory on here:

http://www.hamptons.co.uk/media/444472/hamptonsinternational-focusreport-timetosave-spring.pdf

It would appear that if you are single then you are out of luck wherever in the country you want to buy. I particularly like the stat that it takes someone in London 45 years to save a deposit. Yup, good old affordability in action there.

NB they too have excluded children from their sums, so should you not have children, both earn a full-time salary etc etc - sounds familiar...

Would appear that if you are not in a couple or didn't start early then the odds are against you!

GreatApe

Windofchange wrote: »

So Hamptons estate agents seem to have published some data which goes against the you can save a deposit in a year or two theory on here:

http://www.hamptons.co.uk/media/444472/hamptonsinternational-focusreport-timetosave-spring.pdf

It would appear that if you are single then you are out of luck wherever in the country you want to buy. I particularly like the stat that it takes someone in London 45 years to save a deposit. Yup, good old affordability in action there.

NB they too have excluded children from their sums, so should you not have children, both earn a full-time salary etc etc - sounds familiar...

Would appear that if you are not in a couple or didn't start early then the odds are against you!

yet over 75% of the private stock is owner ocupied and that figure jumps to over 80% when you look at the uk born brits and exclude the migrants

ukcarper

Windofchange wrote: »

So Hamptons estate agents seem to have published some data which goes against the you can save a deposit in a year or two theory on here:

http://www.hamptons.co.uk/media/444472/hamptonsinternational-focusreport-timetosave-spring.pdf

It would appear that if you are single then you are out of luck wherever in the country you want to buy. I particularly like the stat that it takes someone in London 45 years to save a deposit. Yup, good old affordability in action there.

NB they too have excluded children from their sums, so should you not have children, both earn a full-time salary etc etc - sounds familiar...

Would appear that if you are not in a couple or didn't start early then the odds are against you!

Average pay £26400k £1750 a month take home. Rent a room £500 per month leaving £1250. They suggest save 22% £275 a month leaving £975 the savings sound much to low to me.

westernpromise

Windofchange wrote: »

Would appear that if you are not in a couple or didn't start early then the odds are against you!

The former at least is inevitable isn't it? To the extent that houses are bought with mortgages and affordability is a function of mortgage cots versus household income, prices in a 0.25% base rate market where the marginal buyer is a couple are sure to be higher than prices where base rates are higher and the marginal buyer only has one income. That part at least is a feature, not a bug.

Despite which the number of FTBs seems to be pretty stable.

Windofchange

GreatApe wrote: »

yet over 75% of the private stock is owner ocupied and that figure jumps to over 80% when you look at the uk born brits and exclude the migrants

Exclude what you feel you have to to prove your point. None of the numbers agree with you.

Windofchange

ukcarper wrote: »

Average pay £26400k £1750 a month take home. Rent a room £500 per month leaving £1250. They suggest save 22% £275 a month leaving £975 the savings sound much to low to me.

Well I guess we could argue the toss on that one all night / week again. Some will save more, some will save less / none. Guess you are looking at what most will do. From not too distant memory of being in my 20's I put £250 a month into a share save scheme and the rest I spent on rent, food, entertainment etc. That was on a graduate salary in the mid 2000's of about 22k a year. Could I have saved more, maybe. I wanted to have some fun though whilst still young and I don't think that would be too uncommon a theme amongst those of that age.

ukcarper

Windofchange wrote: »

Well I guess we could argue the toss on that one all night / week again. Some will save more, some will save less / none. Guess you are looking at what most will do. From not too distant memory of being in my 20's I put £250 a month into a share save scheme and the rest I spent on rent, food, entertainment etc. That was on a graduate salary in the mid 2000's of about 22k a year. Could I have saved more, maybe. I wanted to have some fun though whilst still young and I don't think that would be too uncommon a theme amongst those of that age.

I am arguing that if you are serious about buying you can save more, if you choose to spend on entertain etc that's your decision but thats what you and Graham don't seem to understand if you want to buy and you are not one of the lucky people who get help you have to make sacrifices, when I was saving I save almost all my money after food and keep my only form of entertainment was a couple of drinks at the weekend.

economic

ukcarper wrote: »

I am arguing that if you are serious about buying you can save more, if you choose to spend on entertain etc that's your decision but thats what you and Graham don't seem to understand if you want to buy and you are not one of the lucky people who get help you have to make sacrifices, when I was saving I save almost all my money after food and keep my only form of entertainment was a couple of drinks at the weekend.

Oh but why won't anyone think of the poor nurses on 25k who need to buy take out coffees, go on fancy holidays and buy the latest gadget yet can't afford to buy a property????