Should house prices be dropped drastically - to help the young ?

[Becky B 31]

I rent a very nice house with a good landlord. To buy the same or similar property would probably cost around twice as much in mortgage repayments as the rent does, if I could get a mortgage for it (which I can't).

So, for the time being I'm content to stay in a nice house in a nice area and rent because the only houses I could afford to buy aren't anywhere near as good.

 

What worries me is the thought that if I ever do want my own house, I need to buy in the next few years to have a chance of paying off the mortgage before I retire...

[truman 10]

A lady I work with bought her house in our area about 25 years ago paying the measly sum of £24k,

 

You may like to ask what she was earning 25 years ago...

[Paul2412 10]

Does the national average include London as well? Because for £250,000 you'd be lucky to purchase a shed in little Baghdad there...

[funkymiss 10]

So, for the time being I'm content to stay in a nice house in a nice area and rent because the only houses I could afford to buy aren't anywhere near as good.

 

This is a plus. I do get to live in a lovely area.

[Tipex 10]

Should be given away with every packet of walkers crisp...

[truman 10]

Average salary for full time employee is around £31,000.

 

 

Where's that figure from? I thought it was more like £22k...

[perplexed 10]

Some 1st time buyer's expectations are unrealistic. They've seen too much property programme porn.

 

I know someone in their early 20's looking for a first time buy. They "couldn't" find anything they could afford, which suprised me a bit.

 

A bit more conversation revealed why. They just hadn't even considered anything "less" than a 3 bed semi with a garage! But they were moaning about being priced out of the market.

 

I did point out that many people can't afford a 3 bed semi with a garage as a 1st purchase, and usually started with a flat or a terrace, and moved up the ladder. That's why it's called a ladder. I was just looked at as if I'd beamed in from elsewhere. They were just completely unrealistic as to what their budget would buy. But if interviewed, they would fall into the "cannot get onto the ladder camp".

[Paul2412 10]

Some 1st time buyer's expectations are unrealistic. They've seen too much property programme porn.

 

I know someone in their early 20's looking for a first time buy. They "couldn't" find anything they could afford, which suprised me a bit.

 

A bit more conversation revealed why. They just hadn't even considered anything "less" than a 3 bed semi with a garage! But they were moaning about being priced out of the market.

 

I did point out that many people can't afford a 3 bed semi with a garage as a 1st purchase, and usually started with a flat or a terrace, and moved up the ladder. That's why it's called a ladder. I was just looked at as if I'd beamed in from elsewhere. They were just completely unrealistic as to what their budget would buy. But if interviewed, they would fall into the "cannot get onto the ladder camp".

 

I'm not sure what situation they were in, but I personally looked at houses (I've since bought a flat). The choices were either a very small house with no parking in an OK area or a larger house (that for a single person seemed a bit excessive) in an area I wouldn't like to live in.

 

I know many people find the thought of the new city centre flats outrageous and start foaming at the mouth but I found that they offer just about everything a single first time buyer needs.

[funkymiss 10]

Some 1st time buyer's expectations are unrealistic. They've seen too much property programme porn.

 

I know someone in their early 20's looking for a first time buy. They "couldn't" find anything they could afford, which suprised me a bit.

 

A bit more conversation revealed why. They just hadn't even considered anything "less" than a 3 bed semi with a garage! But they were moaning about being priced out of the market.

 

I did point out that many people can't afford a 3 bed semi with a garage as a 1st purchase, and usually started with a flat or a terrace, and moved up the ladder. That's why it's called a ladder. I was just looked at as if I'd beamed in from elsewhere. They were just completely unrealistic as to what their budget would buy. But if interviewed, they would fall into the "cannot get onto the ladder camp".

 

Buying and selling a house costs loads. People don't want to buy a poky flat just to have to waste money on moving in two years time because they want a family. This is what has happened with a load of the city centre flats.

[Zomoniac 10]

I know many people find the thought of the new city centre flats outrageous and start foaming at the mouth but I found that they offer just about everything a single first time buyer needs.

 

Except a half-decent night's sleep, or just some quiet time, ever.

[Paul2412 10]

Except a half-decent night's sleep, or just some quiet time, ever.

 

Not sure where you've been but I've never been kept awake when trying to sleep!

[Zomoniac 10]

Not sure where you've been but I've never been kept awake when trying to sleep!

 

One flat at Coode House on Millsands near the courts (Riverside) and one flat at Queens Tower. Left both due to noise. But I am extremely sensitive to noise from neighbouring walls.