Won't somebody think of the children?

[LondonManc]

I have an easy solution, we have all witnessed how higher earners slowly and gradually over a number of years, perhaps a decade or two buy properties in cheaper more financially accessible areas (of cities) and slowly the area comes up

well what about, bring that to the modern age, gather together a group of like minded people, with the means to buy property in accessible areas, then together, pick an area, and then, all at the same time, buy all the available property there

voila, overnight a poor area becomes a nice area

I am surprised this is not executed in an organized planned way

Milan.

You mean like a groupon for housing?

[milanbenes]

no, more like a flash mob

a load of people who are in the market for a house in a city, group together, pick an area, and en masse buy up all the houses in that area

over night, the area becomes a nice area

voila

flash mob buying houses and taking a rundown area into a nice area in a flash

Milan.

[sasguru]

no, more like a flash mob

a load of people who are in the market for a house in a city, group together, pick an area, and en masse buy up all the houses in that area

over night, the area becomes a nice area

voila

flash mob buying houses and taking a rundown area into a nice area in a flash

Milan.

Milan give it up and count some more tapes.

[milanbenes]

sas,

good one, subject and point are valid, maybe the sheep cannot get their heads around the concept

why wait for an area to become "nice" or "trendy", why not, get organised, gather together a group (large group) of people, with spending power, and colonise a run down area and over night make it a "nice" "trendy" "hip" "cool" area

simples

Milan.

[oracleslave]

sas,

good one, subject and point are valid, maybe the sheep cannot get their heads around the concept

why wait for an area to become "nice" or "trendy", why not, get organised, gather together a group (large group) of people, with spending power, and colonise a run down area and over night make it a "nice" "trendy" "hip" "cool" area

simples

Milan.

Milan,

Are you a hipster?

[milanbenes]

no Dad.



Milan.

[bobspud]

To be fair, you're right. The model is different now - my cousin and his girlfriend have moved into a flat in north London together (he's from Middlesbrough, anywhere's a step up barring Bradford) and will probably have to postpone kids for a while. It's more a case of having to have kids later these days and the model will still work.

Im not sure it will. My salary when I bought my first place was £27k (nearer £40k with OT) I got a £50k mortgage on a £56k two bed terrace in Walthamstow. (bought it on my own) then a few years later I moved from that house to a barn in the country that cost £240k but I made 80k on the first house and in that time my salary had doubled to £80k. So at no point was my actual salary a stretch to buy either of the houses.

Moving on 20 years

This is around the corner from my little pad and it is quite literally ten times what I paid for my starter home.

2 bedroom terraced house for sale in Queen Elizabeth Road, Walthamstow, London, E17

In 2016 (23 year old) me would need to be earning at least 125,000k to get that mortgage. How does my wife ever get to stop working to pop a sprog with a 4k a month mortgage?

and that is the issue facing most of the people in the south east of England. The west is not much better.

[bobspud]

By almost anywhere else I assume you mean down south? The national average in 2003 for the UK was £155k. Only London, the rest of the South East and the South West were above that.

Yes there are plenty of houses in the rest of the country that would be affordable but not the high paid professional jobs to match.

2 bedroom flat for sale in Washbrook Road, Birmingham, B8

[d000hg]

By almost anywhere else I assume you mean down south? The national average in 2003 for the UK was £155k. Only London, the rest of the South East and the South West were above that.

Well most of the houses are down south. Certainly the NE is at the bottom in housing prices (possibly joint with Wales?) so even the rest of the north is pricey!

Average can be a misleading term of course, but I'm sure I heard on the news the average house price is now £300k.

Let's take two people each on £23k salaries. How long will it take them to save enough to buy a house, and reach a point that one of them can quit work and raise children and still pay the mortgage?

Our house is worth less than the national average and yet we only just reached the point we could live off my wife's teaching salary alone... I use hers since that's a fairly low professional salary but even that is considered quite high around here (£31k IIRC). We do not live a profligate lifestyle, no flashy cars or expensive holidays.

So it's no surprise people want to stay in work around their family!

[TheFaQQer]

Average can be a misleading term of course, but I'm sure I heard on the news the average house price is now £300k.

Wash your ears out then - https://www.gov.uk/government/upload...y-HPI-2016.pdf

£190275 is the national average. Only London is over £300k.