House prices rose by another 6.5% in the last 5 months, highest since 2004

[Psycho Sonny]

Problem is there is little in between - around where I live you wouldn't wish the property or area on your worst enemy at ~100K and then it is a big jump to almost 300K for an entry level property in an area that isn't an absolute **** hole with only a tiny fringe of options in between.

Lower earners I know live miles away from Glasgow and in quiet areas with decent sized houses.

I know folk who drive like 30-45 mins one way to get to work and that's 45 mins at average speed of say 50mph not London where 45 mins of driving gets you 300 yards away.

Like I said above I know an apprenticeship worker who just bought a house 25-30 miles outside of London. Yeah it's only one bedroom and still cost a fortune but it's not a bad area.

Compromises have to be made.

 

[englishpremier]

Risen 6% but are they any more expensive, if they had fallen more than that previously? I haven't looked at the figures.

I'm not a homeowner. I don't even live in a house, but was surprised at how affordable houses were if you can re-locate. Houses in the West Midlands, and a large percentage of the country north of that seem affordable. Same for most of Wales.

Plenty of 2-3 bed terraced and even some semi detached for less than £100k. Not that I would like to live there, but if you're desperate to get on the ladder...

 

[Efour]

Like I said above I know an apprenticeship worker who just bought a house 25-30 miles outside of London. Yeah it's only one bedroom and still cost a fortune but it's not a bad area.

Is it Romford?

 

[Psycho Sonny]

Is it Romford?

No idea. They haven't even moved in yet. Been staying at parents whilst they do the place up and get furniture. I don't know the exact address sorry or even a rough address. I can tell you though that I thought the price was very expensive for a 1 bed flat. Time will tell.

 

[KillBoY_UK]

Absolute rubbish.

You can buy a home on minimum wage easily if you compromise on area and the home.

Problem is people want fancy homes in fancy areas or overpopulated areas like London.

I know someone who is early twenties and just bought 25 miles outside of London on an apprenticeship wage.

I'm guessing that you earn peanuts yet think you are entitled to a 4 bedroom house in Mayfair.

I've posted links before. You can get flats in a crap area for £20k and a decent area is up to £250k for a 1 bedroom in Glasgow that's the difference 5-6 miles can make as well as the area.

I can show you a house around the corner from me for £1 million go around the other corner and there are homes for less than £80k.

Your argument is always based on cost of housing but always looking at the expensive houses. Guess what I can do that with cars too. I can't afford a Bugatti so guess what I drive a BMW. Live within your means.

I really don't see how a apprentice in London could do that unless they had a MASSSIVE deposit or it was some highly specialised high value apprenticeship. Especially in the south east

Min wage is £8.72 40hpw 52 weeks runs up to £17,201 most lenders Ive found will only lend you 5 times you salary which takes you to £86'000 ish presuming someone has saved £17k depsoit. What can you get for £86k in the SE where the jobs are. Back home in yorkshire you can but a lot of jobs are in the SE.

I earn in the mid £30's with a perfect credit score but most lenders will only loan up to a property value 160k or so even with a 15-20% despot which will get me little or nothing within a 1hour of work

The local schools and hospitals are struggling to recruit due to the cost of housing, let alone low income/salary jobs which some take for granted but are still needed, cleaners/retail work, car workers etc or are they doomed to HMO's for the rest of there lifes

 

[KillBoY_UK]

No idea. They haven't even moved in yet. Been staying at parents whilst they do the place up and get furniture. I don't know the exact address sorry or even a rough address. I can tell you though that I thought the price was very expensive for a 1 bed flat. Time will tell.

Not everyone has the option of living with there parents to save, bank of mum and dad or a partner with a income of there own to try and buy a place.

 

[Pudney]

Is it Romford?

That's not 25 to 30 miles out. Sounds like a commuter town like Basildon or similar.

 

[mmj_uk]

This is why most wealthy people (owners of lots of real estate) and businesses backed remaining in the EU and tried their damned hardest to overturn it, mass immigration drives up house prices and drives down wages but anyone who points that out or voted to leave is just racist and uneducated of course.

PS5 is currently selling for £900 on Ebay, it's amazing what shortages and high demand can do. A lot of politicians also make money out of real estate so it's not in their interest to do anything about it either.

 

[dl8860]

Absolute rubbish.


I know someone who is early twenties and just bought 25 miles outside of London on an apprenticeship wage.

Where exactly, how many beds, and how much for?

 

[Megahurtz400]

Absolute rubbish.

You can buy a home on minimum wage easily if you compromise on area and the home.

Problem is people want fancy homes in fancy areas or overpopulated areas like London.

I know someone who is early twenties and just bought 25 miles outside of London on an apprenticeship wage.

I'm guessing that you earn peanuts yet think you are entitled to a 4 bedroom house in Mayfair.

I've posted links before. You can get flats in a crap area for £20k and a decent area is up to £250k for a 1 bedroom in Glasgow that's the difference 5-6 miles can make as well as the area.

I can show you a house around the corner from me for £1 million go around the other corner and there are homes for less than £80k.

Your argument is always based on cost of housing but always looking at the expensive houses. Guess what I can do that with cars too. I can't afford a Bugatti so guess what I drive a BMW. Live within your means.

So am I expected to move to the worst past of Glasgow and commute to my job in the South East of England lmao?

Find me a house I can afford to buy by myself within an hour of Colchester that is in a liveable state, assuming I earn the UK average of £30k a year.

 

[Pudney]

So am I expected to move to the worst past of Glasgow and commute to my job in the South East of England lmao?

Find me a house I can afford to buy by myself within an hour of Colchester that is in a liveable state, assuming I earn the UK average of £30k a year.

If you're going to have unrealistic standards such as livable you'd have to rule out the entirety of Colchester!

 

[Psycho Sonny]

I really don't see how a apprentice in London could do that unless they had a MASSSIVE deposit or it was some highly specialised high value apprenticeship. Especially in the south east

Min wage is £8.72 40hpw 52 weeks runs up to £17,201 most lenders Ive found will only lend you 5 times you salary which takes you to £86'000 ish presuming someone has saved £17k depsoit. What can you get for £86k in the SE where the jobs are. Back home in yorkshire you can but a lot of jobs are in the SE.

I earn in the mid £30's with a perfect credit score but most lenders will only loan up to a property value 160k or so even with a 15-20% despot which will get me little or nothing within a 1hour of work

The local schools and hospitals are struggling to recruit due to the cost of housing, let alone low income/salary jobs which some take for granted but are still needed, cleaners/retail work, car workers etc or are they doomed to HMO's for the rest of there lifes

They aren't earning minimum wage in fact probably nearly double. They are early twenties though, never went to uni or college. It's for a well known household name and they are an engineer by trade.

Money is out there for people willing to put in the hard work.

However that's London for you.

Anyone earning minimum wage outside of the places like London can easily find affordable homes they just don't want them.

 

[Psycho Sonny]

So am I expected to move to the worst past of Glasgow and commute to my job in the South East of England lmao?

Find me a house I can afford to buy by myself within an hour of Colchester that is in a liveable state, assuming I earn the UK average of £30k a year.

Google right move and use the filters.

There's 2 bed caravans available on park sites for £20k that look nice.

1 bed flats for £50k.

So £150k should get you a decent flat somewhere. I've no idea about that part of the country so best to ask someone who does.

 

[Ayahuasca]

There's 2 bed caravans available on park sites for £20k that look nice.

 

[Tom_ed1987]

This was pretty inevitable. Stamp duty tax break, combined with millions of people sitting at/working from home all day, unable to really spend anything, staring at their 4 walls & thinking "this place is ****, let's upgrade". The importance of having a nice home has jumped to front-centre priority in may people's minds.

It's not been equal across all sectors though - flats have taken a huge hit in London/SE - some reports of values down 30%+.

Despite face values appearing so out of sync with earnings, mortgages are still more affordable than they have perhaps ever been.

 

[Megahurtz400]

Google right move and use the filters.

There's 2 bed caravans available on park sites for £20k that look nice.

1 bed flats for £50k.

So £150k should get you a decent flat somewhere. I've no idea about that part of the country so best to ask someone who does.

Park sites where you can only live 11 months of the year?

Please link me to a 1 bed flat for £50k, because if there is i'll make a call and buy it right now.

Even over 55 properties start around £75k.

Flat for £150k, how much deposit would be needed for that? An average of 15-20%? so 22.5-30k, and I'm meant to save that while paying £1000 p/m for rent, £180pcm for council tax and other bills on top, while commuting and hour each for work?

 

[Lartyconshayo]

those park sites also usually have maintenance charges every year

 

[Psycho Sonny]

This was pretty inevitable. Stamp duty tax break, combined with millions of people sitting at/working from home all day, unable to really spend anything, staring at their 4 walls & thinking "this place is ****, let's upgrade". The importance of having a nice home has jumped to front-centre priority in may people's minds.

It's not been equal across all sectors though - flats have taken a huge hit in London/SE - some reports of values down 30%+.

Despite face values appearing so out of sync with earnings, mortgages are still more affordable than they have perhaps ever been.

How much money are people saving though?

Your talking a temporary break in commuting costs. Possibly also in food.

How much of an upgrade can you get with 6 months of commuting costs?

My point being. If I lived in a hole and had £50k in the bank chances are I would have already been moving.

I don't believe this latest uptake has been anything other than due to people who were at home realising they had to move out or their partner was actually intolerable so they are getting their own place.

My immediate thought on saving £200 a month on commuting and £100 a month on eating out whilst at work wouldn't mean I go and sign up to giving away an additional £300 month for the next 30 years. Because when I have to go back to work I won't have that additional £300 spare every month.

Put it this way a bimbo i know talks about all the money she's saving is now complaining about gas and electricity through winter. Because she's working from home rather than the office.

Yet she went on holiday abroad in the summer to Greece or turkey. Caught Covid and took 2 weeks off work self isolating. Holiday was cheap in relative terms but I bet she ate out every day all day as well as drank. Most smart people cancelled their holidays they had already booked she went and booked one during a pandemic because it was cheap.

She just went out and spent £1k on a Ps5 for her step son because his real mum bought him one and he couldn't play it whilst at hers.

So folk that are saving money working from home will always find ways of parting with it one way or another. Only the ones who were determined and motivated to begin with won't.

 

[KillBoY_UK]

They aren't earning minimum wage in fact probably nearly double. They are early twenties though, never went to uni or college. It's for a well known household name and they are an engineer by trade.

Money is out there for people willing to put in the hard work.

However that's London for you.

Anyone earning minimum wage outside of the places like London can easily find affordable homes they just don't want them.

Engineering , so a high value earning twice the min wage and still has to stay with mum and dad to save, do you really still not see the issue

"You can buy a home on minimum wage easily if you compromise on area and the home."

Is what you said first, how are min and low wage earners meant to afford a place to live in the SE where most the economy is.

So what are all the cleaners, nurses, Pharmacists , teachers, care workers, retail staff are meant to do ?

Those jobs at those still need doing at those wages and those people still need somewhere to live

 

[Efour]

That's not 25 to 30 miles out. Sounds like a commuter town like Basildon or similar.

I know I'm from Romford. I was having a private joke with myself.