Will there really be a crash?

ukcarper

GreatApe wrote: »

And yet ownership rates are near all time highs for uk born persons with only a handful of years were ownership was higher mostly becuase self cert loans back then meant the 10% of the nation that earns their bread from the black market could also buy

So whats going on?
How can property be so unaffordable, according to you, yet ownership rates be at near record highs for uk born persons?

Do you not believe my figures.

Home ownership has declined from 70% to 62% and has also declined to overall numbers.

GreatApe

ukcarper wrote: »

Do you not believe my figures.

Home ownership has declined from 70% to 62% and has also declined to overall numbers.

UK born numbers are better than that and the decline is lessor

The main reason for the fall in ownership from 2004 was mass migrantion
If you look at recent migrants some 75% rent privately so they skew the figures a lot

ukcarper

GreatApe wrote: »

UK born numbers are better than that and the decline is lessor

The main reason for the fall in ownership from 2004 was mass migrantion
If you look at recent migrants some 75% rent privately so they skew the figures a lot

How does that effect numbers falling have you got a link to show U.K. born numbers. According to IFS for U.K. born 25-34 year olds it's fallen from 58% in 2002 to 38% in 2016.

homeless9

When they are charging £434,000 for new 2 bedroom houses in the village of Cranleigh, Surrey..... then things are getting out of control with house prices.

Bellway homes.....

Seriously.......... £434,000

So you need something along the lines of......

£60,000 household income + £164,000 deposit

£80,000 household income + £74,000 deposit.......

To buy an ordinary 2 bedroom house, and it's not even in London, it's an hours drive outside of London.

Makes me feel sick.

triathlon

homeless9 wrote: »

When they are charging £434,000 for new 2 bedroom houses in the village of Cranleigh, Surrey..... then things are getting out of control with house prices.

Bellway homes.....

Seriously.......... £434,000

So you need something along the lines of......

£60,000 household income + £164,000 deposit

£80,000 household income + £74,000 deposit.......

To buy an ordinary 2 bedroom house, and it's not even in London, it's an hours drive outside of London.

Makes me feel sick.

Get a better job
Most of us have found a way, beg, borrow or steal, but just find away, you just somehow come to terms that sulking about the situation will not improve your situation one bit.

Where do you live then? I just cannot believe these are the cheapest properties, and plus I know people who commute 3 hours plus per day
What is your job

lisyloo

homeless9 wrote: »

When they are charging £434,000 for new 2 bedroom houses in the village of Cranleigh, Surrey..... then things are getting out of control with house prices

But there are 1 bed flats below £100k in Luton which is quite commutable to London.

Not saying it’s aspirational, far from it but perhaps you need to take a look at your expectations?

Many of us started with not so nice places and hardly any furniture and didn’t get it on a plate but worked up to it.
You don’t get your dream home off the bat.

Moby

homeless9 wrote: »

When they are charging £434,000 for new 2 bedroom houses in the village of Cranleigh, Surrey..... then things are getting out of control with house prices.

Bellway homes.....

Seriously.......... £434,000

So you need something along the lines of......

£60,000 household income + £164,000 deposit

£80,000 household income + £74,000 deposit.......

To buy an ordinary 2 bedroom house, and it's not even in London, it's an hours drive outside of London.

Makes me feel sick.

Landlords in North London are charging £1300 a month for a 'studio' which is basically a pokey room with a two ring electric cooker in it.

ukcarper

lisyloo wrote: »

But there are 1 bed flats below £100k in Luton which is quite commutable to London

Not saying it’s aspirational, far from it but perhaps you need to take a look at your expectations?

Many of us started with not so nice places and hardly any furniture and didn’t get it on a plate but worked up to it.
You don’t get your dream home off the bat.

I don't think it's about aspirations if a 2 bed house is out of reach for two people both earning the 70% percentile of full time earnings property is unaffordable. Where I am you need to be earning at 70% percentile for full time earnings to buy cheapest one bed flat I personally think that is a problem.

lisyloo

I have a colleague who commutes from birmingham to London 3 days a week and works from home for 2. Advance tickets on virgin are £8 and she finds the 1 hour 20 min (I think) acceptable 3 times a week. She prefers that to the Berkshire trains where there were arguments and people coughing over you every day, also has a 4-bed.

So perhaps look outside Surrey and consider other solutions?

lisyloo

ukcarper wrote: »

I don't think it's about aspirations if a 2 bed house is out of reach for two people both earning the 70% percentile of full time earnings property is unaffordable. Where I am you need to be earning at 70% percentile for full time earnings to buy cheapest one bed flat I personally think that is a problem.

Does that apply to everywhere within commutable distance from you?