Houses are affordable!

lincroft1710

Scotbot wrote: »

And the base rate averaged out at 13% or 26 x todays rate

I worked out that over 20 years on a mortgage of £7,000, I would pay back about £16,000. But there was tax relief on mortgages (MIRAS) in those days. I think my monthly repayment was around £76.

Cakeguts

ManofLeisure wrote: »

Every family will have members who are 'baby boomers'. My question would therefore be, 'why aren't they helping those of you who clearly need help'? This is what I have done and many of my friends too - because we can afford to. The truth is that although some people in this 'elite' group have made a tidy sum, the majority have not.

You need to look a the graph properly. Most of the baby boomers rented. It is the people who bought in the early 2000s who had it easiest to buy a house in their 20s not the baby boomers. So someone born in the 70s. A baby boomer buying a house in the 1990s would be anything from over 40 to over 30. So they would have been saving for a deposit for anything between 12 and 22 years. Not what I would describe as any different to today. Most baby boomers did not go to university.

lincroft1710

Pixie5740 wrote: »

SDLT was introduced in 2003. What tax did previous generations have to pay when purchasing land and/or property?

Stamp Duty was in existence long before 2003 see here

http://www.stampdutyrates.co.uk/historic-rates.html

aneary

capital0ne wrote: »

In 1957 the average wage was £7 10s - equates to £390 per year
The average house cost £2,000 - 5 times salary

Fast forward to now

The average wage is about £20,000 per year (starting point for a civil servant in their early 20's)
A quick search on Rightmove and you can find two bed terraced houses or similar for under £100,000 (not in London of course)

So where's the problem?

Apparently all of us oldies are now glorying in our 'cheap' houses we bought back in the day in our twenties. Well it was just as hard for us back then as it is now, so what's different?

The difference is that we had a bit of discipline, we wanted to get our own place, and we saved, we bought what we could afford and where we could afford, and we didn't look for our four bed detached forever home full of brand new furnishings.

We bought second hand and made do for the first few years.

Sadly youngsters today 'need' and iPhone X (£50/month), Netflix/Amazon Prime £100+/year), gym membership (£100+/yr), Costa coffee(£60/month), Takeaways (£100/month), new card (£199/month) plus others - this is all adding up to £5,000+/yr, which is your 5% deposit saved in one year.

It is doable - you just need to do it - get out of your parents house now and get on with your life while you know everything!:D

You only exclude London are you mad, I live two hours away from London find me a two bedroom terrace house in an area that I'm not going to get mugged or worse if I step outside my door extremely unlikely.

Even up north where I have family £100k for a two bedroom terrace house is not possible anymore.

The areas were these two bedroom houses exist are not in areas where there are lots of jobs.

The only reason I have a deposit is due to a redundancy and a slightly above average wage but I can onlt afford a two bedroom flat at most and the second room will be a single room and even the double is not what I would call a proper double room.

I don't have major outgoings the gym £24 a month (I lift heavy weights (all machine based) so I wouldn't ever be able to afford them), my phone is £18 a month I don't have a landline, other than the rent my car is my biggest expense it's a 15 year old BMW due to my age a less powerful car wouldn't be much cheaper on insurance I drive less than 8000 miles a year so it would cost a lot more to by a car that uses less petrol and I have to have a car as it would be two buses to work and over an hour commute (I already work 40 hours a week I will not add 1.5 hours to my day to save £100 a month). I got a coffee machine for free and my coffee is brought from costco so it's £4 for three months worth of coffee (I'm sure instant would cost more). My rent is £875 a month however I'm 37 I've spent years sharing since moving in on my own my mental health is better and I go out less (therefore spend less money).

Cakeguts

aneary wrote: »

You only exclude London are you mad, I live two hours away from London find me a two bedroom terrace house in an area that I'm not going to get mugged or worse if I step outside my door extremely unlikely.

Even up north where I have family £100k for a two bedroom terrace house is not possible anymore.

The areas were these two bedroom houses exist are not in areas where there are lots of jobs.

The only reason I have a deposit is due to a redundancy and a slightly above average wage but I can onlt afford a two bedroom flat at most and the second room will be a single room and even the double is not what I would call a proper double room.

I don't have major outgoings the gym £24 a month (I lift heavy weights (all machine based) so I wouldn't ever be able to afford them), my phone is £18 a month I don't have a landline, other than the rent my car is my biggest expense it's a 15 year old BMW due to my age a less powerful car wouldn't be much cheaper on insurance I drive less than 8000 miles a year so it would cost a lot more to by a car that uses less petrol and I have to have a car as it would be two buses to work and over an hour commute (I already work 40 hours a week I will not add 1.5 hours to my day to save £100 a month). I got a coffee machine for free and my coffee is brought from costco so it's £4 for three months worth of coffee (I'm sure instant would cost more). My rent is £875 a month however I'm 37 I've spent years sharing since moving in on my own my mental health is better and I go out less (therefore spend less money).

So the problem for you is a rise in crime in certain areas not a rise in house prices. You could afford to buy a house if there was no crime in certain areas. Those houses might be more expensive but other areas might be cheaper if the prices were more even over different areas.

You are making things up http://www.rightmove.co.uk/property-for-sale/property-51446721.html there are lots of jobs in Manchester and there is a bus service to Manchester from Heywood.

[Deleted User]

Eww, heywood? I'd go for somewhere closer to Bury, like this - http://www.rightmove.co.uk/property-for-sale/property-61748719.html

It's an £82k terrace. As a plus side, it's near Gigg lane! I bought a fairly similar house in zone 6, London, for £200k ! It'd cost you £350k now.

There's plenty of work in Bury, or Manchester is just a (regular) bus ride away

aneary

Cakeguts wrote: »

So the problem for you is a rise in crime in certain areas not a rise in house prices. You could afford to buy a house if there was no crime in certain areas. Those houses might be more expensive but other areas might be cheaper if the prices were more even over different areas.

You are making things up http://www.rightmove.co.uk/property-for-sale/property-51446721.html there are lots of jobs in Manchester and there is a bus service to Manchester from Heywood.

Find me a junior Oracle systems accountant role in manchester.

[Deleted User]

aneary wrote: »

Find me a junior Oracle systems accountant role in manchester.

Could you stretch to Oracle developer? https://www.jobsite.co.uk/job/oracle-developer---global--high-growth-business---sql--plsql-959491347?src=search&tmpl=lin&sctr=IT&position=1&page=1&engine=stepmatch&search_referer=internal

Think you could have a crack at MS SQL? It'd open up the market for a lot more jobs.

But seriously.. there's a thriving IT jobs market in Leeds/Manchester - my firm runs 57% of the GP Practice IT systems from it's little offices in Bolton and Leeds (With it's 7 Petabytes of databases).

Sure, the salaries might be a bit lower. But you can buy a 5 bed detached for the price of a Southern 2 bed terrace.

I'm stupid.. I can live anywhere (Solution Architect role, remotely based) but I still live within the M25 because of family.

ukcarper

NineDeuce wrote: »

So in other words, it's bogus, as it misses out half of the population, it uses figures which are wrong and you cant vouch for the accuracy of it.

It shows how prices have change with time, the nationwide graph is the only one I can find that goes back that far. It might not give you an overall picture of affordability now but it show how it compares over time.

aneary

ringo_24601 wrote: »

Could you stretch to Oracle developer? https://www.jobsite.co.uk/job/oracle-developer---global--high-growth-business---sql--plsql-959491347?src=search&tmpl=lin&sctr=IT&position=1&page=1&engine=stepmatch&search_referer=internal

Think you could have a crack at MS SQL? It'd open up the market for a lot more jobs.

But seriously.. there's a thriving IT jobs market in Leeds/Manchester - my firm runs 57% of the GP Practice IT systems from it's little offices in Bolton and Leeds (With it's 7 Petabytes of databases).

Sure, the salaries might be a bit lower. But you can buy a 5 bed detached for the price of a Southern 2 bed terrace.

I'm stupid.. I can live anywhere (Solution Architect role, remotely based) but I still live within the M25 because of family.

Nope not developer and MS SQL is a no no, for some reason I get Oracle when I'm rubbish with technology. I fell into it, I can do other accounts roles but my salary would be cut by a 1/3.