Houses are affordable for first time buyers

amandacat

What about the deposit though? Even in an area where housing is cheaper you still need to save a deposit. If someone is younger and renting, most young people don’t have enough disposable income. I was in the same position back in my 20s, at that time you needed 10-15% deposit. I had to save for years before getting on the property ladder and even then I had to start with a shared ownership property. Some have the benefit of family support with this but many including myself didn’t.

csgohan4

Getting_greyer wrote: »

Why is the answer always move away from where your friends and family live. Also just increase your unpaid commute time. Yes the maths dont lie, but it's sad nonetheless.

There will be countless people that had to do the hard yards so that they can enjoy the 4 bed detached in the suburbs now but it's not all about millennials buying avocado toast and crying because a 2 bed terrace doesn't have an ensuite and billiards room.

Edit: dont think the issue is mortgage affordability more about a sizable deposit. I'm going to put my umbrella up to protect myself from the inevitable downpour about saving instead of buying iPhones.

It's not sad, it's life. You don't have a right to live in a certain area. I wish I could live in a penthouse in Knightsbridge and enjoy my life there.


But I couldn't even afford to live in East London and moved away to afford a bigger house and better lifestyle and never looked back.


Friends come and go, as does family, you won't get your hand held 24/7.


No Shame in renting, Did so for more about 15 years

Shelldean

Ha ha ha.......would love a place for 125,000!!!
Cheapest round here are approx double that!!!

Marvel1

Earning £20K a year (gross) and loads of properties in my area under £100K.

Mine is probably worth £55K (paid £68K in 2007).

ChloeManoey

It must be nice in your simple world ��

Good luck with your theory in the south east of England. Not a chance of finding anywhere for that price.

RelievedSheff

But you have chosen to live somewhere expensive.

£125k here would buy you a very nice property and wages are not that low. There are areas of the country where housing is very affordable.

People need to be less London orientated!

custardy

RelievedSheff wrote: »

But you have chosen to live somewhere expensive.

£125k here would buy you a very nice property and wages are not that low. There are areas of the country where housing is very affordable.

People need to be less London orientated!

*Laughs in Edinburgh prices*

MovingForwards

custardy wrote: »

*Laughs in Edinburgh prices*

Yup, too expensive on my wages, I'm going to be another one earning in Edinburgh and spending my wages under 30 miles away.

FtbDreaming

I can buy here on one income of £30k but if i went down south id have no hope. Also no hope of saving a deposit as id be spending all my money on rent and the more expensive lifestyle down south for 3 kids...

When i was in Eastbourne in 2005 I was paying £500 pcm for a bedsit the size of my bedroom now. In Merseyside I'm paying £101 a week for a HA property and there are plenty of them so no 10 year waiting lists x

lisyloo

RelievedSheff wrote: »

But you have chosen to live somewhere expensive.

£125k here would buy you a very nice property and wages are not that low. There are areas of the country where housing is very affordable.

People need to be less London orientated!

People don’t always choose where they live.
If you’re young free and single it might be fine.

In recent years we’ve had parents decline so we’ve had to deal with helping them with shopping, transport etc. Social services, hospital, nursing homes and then death.
Congratulations if you don’t have any commitments but some of us do and aren’t prepared to just up sticks and leave people we care about to struggle.

Other people have children they don’t live with or grandchildren they want to see.
Some may have careers that take them to certain cities.

You are guilty of simplifying the issues.

Some of us have actually moved for work/careers.