Will the next generation be able to buy their own house?

Zero_Sum

The-Joker wrote: »

An average wage when leaving school is about £18k so what can you buy with 3.5x that with a 5% deposit?

Well a single person could get a house in the region of £65k. Can get an ex council 2 bed house for that round here. Or a as a couple double it, and you can get some quite decent houses. In fact my parents just sold their 3 bed semi for about £135k and its in quite a desirable part of town. Bought a doer upper for £20k less.

Zero_Sum

The-Joker wrote: »

Obviously they need to save the deposit takes a few years, or even a decade

The point is there is now a discrepancy between average earnings and average property prices

Mainly down south. Theres plenty parts of the country where this just isnt the case.

Barny1979

Zero_Sum wrote: »

Well a single person could get a house in the region of £65k. Can get an ex council 2 bed house for that round here. Or a as a couple double it, and you can get some quite decent houses. In fact my parents just sold their 3 bed semi for about £135k and its in quite a desirable part of town. Bought a doer upper for £20k less.

Where do you live out of interest?

Zero_Sum

:cool:

Barny1979 wrote: »

Where do you live out of interest?

North east

Barny1979

Zero_Sum wrote: »

:cool:

North east

Unfortunately, not sure the North-east will see a flood of people moving there for cheaper housing.

Zero_Sum

Barny1979 wrote: »

Unfortunately, not sure the North-east will see a flood of people moving there for cheaper housing.

People go where the jobs are. I work (and have worked with) quite a number of people who have relocated up here for various reasons

Barny1979

Zero_Sum wrote: »

People go where the jobs are. I work (and have worked with) quite a number of people who have relocated up here for various reasons

Yes, but less jobs in the North-east likely due to concerns with Brexit from foreign companies and also it is a certain type of job that employs a large number of residents.

Cakeguts

Barny1979 wrote: »

Yes, but less jobs in the North-east likely due to concerns with Brexit from foreign companies and also it is a certain type of job that employs a large number of residents.

That is not correct. There are likely to be more people moving north from the South East because of Brexit. It is London and the South East that is more reliant on foreign companies.

Zero_Sum

Barny1979 wrote: »

Yes, but less jobs in the North-east likely due to concerns with Brexit from foreign companies and also it is a certain type of job that employs a large number of residents.

Theres always been less jobs in the NE cos the government only cares about the SE. But if there were to be an actual plan to rebalance the economy, then by default the government would need to invest & encourage business in forgotten about areas. By doing this you ease the strain on the SE in terms of housing, school places etc etc.

Thrugelmir

Zero_Sum wrote: »

Theres always been less jobs in the NE cos the government only cares about the SE.

Companies locate where the "skilled" work force is. Likewise more people live in cities and major urban conurbations than ever before.