Accrington Web - View Single Post

Busman747 · 14-07-2004, 22:33

If you are fortunate enough to own a house and think you are rich because you have seen a 50% rise in its value, think again! Mathewm MAY have bought his house for say £60.000 and it MAY be worth £120.000 now, but if he sells, what can he buy? Another house in the same street which has also gone up in value?

In the south, we have lived with this problem for a number of years. I have 4 adult daughters and only one has been able to purchase! (A 2 bed terraced cottage and their mortgage is massive) The other three are renting at an average cost of £550-00 per month! If you search around, you may find a bedsit for around £80.000 or an ex council 3 bed house on an estate for £150.000

Unless the market crashes, Accie people will be facing a similar fate in a few years time along with the rest of the country! My message to all you teenagers out there is to do your research and find out what is happening to the rest of the country especially the south.

Wages WILL go up, but nowhere near fast enough to compensate for increased house prices!

I believe it was Willow that said they had gone into estate agents to be told that the cheaper houses were being bought up by investors, I found the same thing. I was looking for a cheap house to buy when I came up north and was advised to camp outside the estate agents office (tongue in cheek) as everything under £35.000 was being snapped up by the proffesionals sometimes before the house went in their window!

I decided to rent and friends down south find it unbelievable that I can rent a lovely house for well under £300-00 per month!!

I have been told that in most european countries, it is rare to purchase a house and renting is the norm....... can any one confirm that?

14-07-2004, 22:33	#20
Busman747 Always EVIL within us Join Date: Apr 2004 Location: Accrington Posts: 1,568 Blog Entries: 4 Liked: 40 times Rep Power: 1670	Re: Houseprices...grrrr... If you are fortunate enough to own a house and think you are rich because you have seen a 50% rise in its value, think again! Mathewm MAY have bought his house for say £60.000 and it MAY be worth £120.000 now, but if he sells, what can he buy? Another house in the same street which has also gone up in value? In the south, we have lived with this problem for a number of years. I have 4 adult daughters and only one has been able to purchase! (A 2 bed terraced cottage and their mortgage is massive) The other three are renting at an average cost of £550-00 per month! If you search around, you may find a bedsit for around £80.000 or an ex council 3 bed house on an estate for £150.000 Unless the market crashes, Accie people will be facing a similar fate in a few years time along with the rest of the country! My message to all you teenagers out there is to do your research and find out what is happening to the rest of the country especially the south. Wages WILL go up, but nowhere near fast enough to compensate for increased house prices! I believe it was Willow that said they had gone into estate agents to be told that the cheaper houses were being bought up by investors, I found the same thing. I was looking for a cheap house to buy when I came up north and was advised to camp outside the estate agents office (tongue in cheek) as everything under £35.000 was being snapped up by the proffesionals sometimes before the house went in their window! I decided to rent and friends down south find it unbelievable that I can rent a lovely house for well under £300-00 per month!! I have been told that in most european countries, it is rare to purchase a house and renting is the norm....... can any one confirm that?