[ray.ray.returns]

http://www.independent.co.uk/propert...n-7907609.html

http://www.independent.co.uk/propert...n-7911984.html

http://www.independent.co.uk/propert...s-7905481.html

http://www.independent.co.uk/propert...s-7913248.html


Whos at fault and more important what can be done to fix it?

[Kiko H Fan]

Do we all need to be 'homeowners'?

[Phil 2804]

Originally Posted by Kiko H Fan

Do we all need to be 'homeowners'?

No but house prices directly affect rental rates in the private sector too. Its a lose/lose situation.

[YoungAtHeart]

Property prices are still overpriced in the UK,

This is because the average salary is around the 27k mark but 3x this salary is nowhere near the average price of a property in the UK.

[Nick1966]

The UK has the oldest housing stock in the developed world.

When I glance at house prices in estate agents' windows and see some properties which are little more than crumbling suburban porches on sale for £225,000, I really wonder on how earth we've ended up in the miserable British situation.

[YoungAtHeart]

Everything is against the youngsters these days.

Property prices, paying for an ageing population, paying full whack for education and there are less secure jobs available generally.

I'm not sure where we are going in the UK but something is going to have to give eventually.

[TheEngineer]

Originally Posted by YoungAtHeart

Property prices are still overpriced in the UK,

This is because the average salary is around the 27k mark but 3x this salary is nowhere near the average price of a property in the UK.

But 3 x Joint Salaries is around the average price.

Obviously it depends where you live as well!

[trevgo]

Of course the property market is in a shambles. Property went through years of unsustainable inflation and is completely overpriced. It will take years for it to reach an equilibrium again.

We need a much larger, much more regulated private rented sector and to loose the "must buy" mentality. A ridiculous amount of disposable income is spent on crazy sized mortgages, or stupid rental prices. If housing costs could be reduced, it would benefit the economy enormously. Take a look at Germany.

It's not a shambles everywhere. In my area, prices are still on the rise and estate agents desperate for property to sell. They continually pester the living daylights out of me.

[jmclaugh]

Originally Posted by ray.ray.returns

Whos at fault and more important what can be done to fix it?

Phil and Kirsty, sack Phil and Kirsty.

[YoungAtHeart]

Originally Posted by TheEngineer

But 3 x Joint Salaries is around the average price.

Obviously it depends where you live as well!

So you are buggered if you don't have a partner then?

[trevgo]

Originally Posted by jmclaugh

Phil and Kirsty, sack Phil and Kirsty.

Oh, HEAR HEAR HEAR!

They absolutely typify the attitude that has brought us to this crazy situation. Not so long ago they were trying to persuade a pair of FTB to stretch their budget to buy a flat they didn't like. "Look" she said "a first time buy is just to get you on the ladder, it's not about a home - you add value, then move on a year or so later".

I could slap the stupid woman all night and never get bored. He is the gayest straight man on TV also

[andykn]

Originally Posted by YoungAtHeart

Property prices are still overpriced in the UK,

This is because the average salary is around the 27k mark but 3x this salary is nowhere near the average price of a property in the UK.

Historically mortgage provides used the mean male salary as a comparator, and expected at least a 10% deposit. The more common quoted "average salary" today is median male and female.

[andykn]

Originally Posted by YoungAtHeart

So you are buggered if you don't have a partner then?

twas ever thus. People used to live at home until they married and bought together. Or moved into shared rented accomodation.

[TheEngineer]

Originally Posted by YoungAtHeart

So you are buggered if you don't have a partner then?

No, you just buy a "less than average" house.

In my area (South of England) you can get a 1 bed flat from £67,000.

What people moan about is that they can't buy the house they want!

Originally Posted by andykn

twas ever thus. People used to live at home until they married and bought together. Or moved into shared rented accomodation.

and this!

[Jack1]

Originally Posted by YoungAtHeart

Property prices are still overpriced in the UK,

This is because the average salary is around the 27k mark but 3x this salary is nowhere near the average price of a property in the UK.

Agreed although you should use average household income rather than average salary and I would expect it to be higher than 3 times.

[Jack1]

Another problem with housing is that we don't build on enough land, prices would go down if we built on more green belt land near London.

[DaisyBumbleroot]

Originally Posted by trevgo

Oh, HEAR HEAR HEAR!

They absolutely typify the attitude that has brought us to this crazy situation. Not so long ago they were trying to persuade a pair of FTB to stretch their budget to buy a flat they didn't like. "Look" she said "a first time buy is just to get you on the ladder, it's not about a home - you add value, then move on a year or so later".

I could slap the stupid woman all night and never get bored. He is the gayest straight man on TV also

Lmao!

Changing rooms and their ilk too, everyone suddenly becoming property developing experts. It's still happening now, that advert on tv (the name evades me) with the woman "she likes older ones, thinks she can make money out of them" young woman "Kerr-chinnng"

[trevgo]

Originally Posted by TheEngineer

In my area (South of England) you can get a 1 bed flat from £67,000.

Good lord! Canvey Island? You couldn't buy a lock up garage for that around here.

[Ashford Steve]

Speculative growth in house sales, alongside the sell-off of council housing, left people with little alternative but to subject themselves to extortionate rents or mortgages. We need more, cheap, social housing for rent. This will reduce the demand, both for private rents and property sales, allowing prices to reduce to more affordable levels.

[johnnybgoode83]

Originally Posted by TheEngineer

No, you just buy a "less than average" house.

In my area (South of England) you can get a 1 bed flat from £67,000.

What people moan about is that they can't buy the house they want!



and this!

What is the point in buying a property if you can't get the one you want?

[starman700]

The bubble will burst soon,it can not carry on much further like this.

[Turnbull2000]

It depends which side of the market you're on. Many people are quite happy with the direction it's taking...

http://www.arla.co.uk/news/2012/6/su...or-more-50422/

London properties rented out in August and September go for 11% more than the same property would have achieved in December, according to Edmund Cude, London's oldest lettings agency.

Robert Nichols, Director, Edmund Cude, said: "An 11% higher rent should not be ignored by the capital's landlords. By having a well-placed break clause in a tenancy agreement, landlords are able to re-synchronise tenancies.

"It might be that demand for short-term Olympic rentals comes late, but seasonal summer interest from recent graduates and corporate tenants is available every year. London landlords need to think about how they can benefit from better organised tenancies which start in the summer when demand peaks."

That's the Letting Agent's body basically saying 'if you're tenant can't afford an 11% rent hike, turf them out'.

Private tenants in this country aren't viewed as young people or families, but rather a source of income to be exploited and evicted on a whim.

[gulliverfoyle]

under normal circumstances we would be out the other side of the crash

the normal rules are not in effect

with 0.5% interest rates people can afford there massive mortgages

if they hadnt cut so far the supply and demand rules would have applied

and the prices would have dropped and we would have got back to fair value

but the banks and govt colluded to socialise the debt so the whole sorry mess can continue

and the plebs can pay

its coming to a end no amount of printing will solve it

debt is not wealth


buy gold

[reglip]

Originally Posted by YoungAtHeart

Property prices are still overpriced in the UK,

This is because the average salary is around the 27k mark but 3x this salary is nowhere near the average price of a property in the UK.

Its even worse than that because most people don't get anywhere close to that. The figure is distorted by wages like they get in the city of London. A few years ago the figure was that 80% of people earned under 25 which was the average at the time. Only something like 20-25% of people earn the average wage

[TheEngineer]

Originally Posted by johnnybgoode83

What is the point in buying a property if you can't get the one you want?

You work your way up the ladder.

I want to live in this house:

http://www.rightmove.co.uk/property-...-38142164.html

but can't afford it (even on a good salary).

You can't always get what you want!