the average house price in the UK is now 200,000 GBP equivilant to 390,000 USD or 17,200,000 INR With high interest rates its a really bad time for first time buyers
Number one reason I gave up working for 'the man' (first job £11,000, last job £13,000 per year) and have spent the last 5 years trying to create an income I can actually live on without feeling poverty stricken in a shitty council house on some dump of an estate. Working a regular job in my town does not provide enough cash for a single person to live on, let alone even afford a crap car. Pete
I've recently been looking into buying my first house, but the prices of some of the houses I have looked at have been somewhat scarey. Luckily I'm looking to move to Stoke-on-Trent, so some of the houses are quite cheap!
Yeh, its getting so expensive to buy a house in the UK. Its going to cut out a whole generation of being able to buy a house, without financially crippling themselves. Countries full of fast breading chavs anyway. hehe
Well people should quit there crap paying jobs use their brain and do something with there lives and they wouldn't have that problem.
Yeh, but we all need factory workers, road sweepers, van drivers, office workers etc etc. But I understand what you are saying Jabb.
Here's a tip, DO NOT MOVE TO CALIFORNIA. If you think $400,000 is a lot, you're gonna kill yourself when you realize you can't buy a decent home (at least in my particular area) for less than 600,000. That includes being miles away and having to go through hours of traffic every day if you want a decent job.
In Romania a good house is 350k Euros or 400k but here 200euro is the avarage payout so it's like incredibly on how can you buy a house (you have to work for it like all your life maybe )
I love visiting the uK but now it cuts the US dollar nearly in half!!!! everything is double the price. Its nice if you are accepting pounds onling though.
£300,000 so around $580,000. That wont get you a nice place either. I now live on the outskirts of London in a £900,000 house which you could get somewhere 3 times as big for a quarter the price in most places in America, Canada, Aus etc.
Independent house ? What is the price range of a 2 and 3 bedroom appartment , in a decent ( middle class ) area.
It's crazy for people like myself who are first time buyers. Part of the problem is that investers are buying up all the houses which fuels the increase of prices of all the houses. Personally I think there should be a 5% tax if you're buying a 2nd property and 10% tax for every 3rd, 4th, 5th property. That would mean anyone looking to actually own a 2nd property can do so if they want to but they're not likely to make a profit on it. Then the tax which has been paid for 2nd, 3rd, 4th properties should be used to help first time buyers get their first property. This would reduce the huge debt which a lot of younger people have these days and in effect would strengthen the economy through faster growth in smaller businesses, greater savings etc etc. Just my thoughts....
I agree this is part of the problem. Those who have money and property are able to afford what first time buyers can't. I feel very sorry for people just starting out.
I am just starting out as well, me and my girlfriend simply cannot afford a house even though we both work full time. It's completely unfair.
Apparently the actual build costs are way below the prices of what the properties are selling for. If a whole bunch of first time buyers got together we could have a whole complex of houses built - sell them - then easily afford to buy our own houses. You up for that Diablos?
Absolutely bang on there. My first house was a £180,000 bungalow with a rebuild cost of £80,000 according to the insurance. It's no wonder "property developers" over here knock down 1 small house and replace them with flats/apartments.