House Price's

M

***Mr D***

Nori Brick
Tackler
Who feels the price of housing in accrington is fair.

Do you feel that a mid terrace property is worth approximatly £100.000.

Now A mortgate on that kind of figure is £550.00 a month *Roughly.

Plus the other expenses involved in running a house, Council Tax, bills ect easy would come to £750.00 Per month.

Now I dont earn much more than that really and the £550.00 a month was over a period of 35 years.:confused:

How can I possibly ever afford to by a property in a relievely good area, when the wage I get doesnt make the above feasable.

I feel sorry for people who will have to buy a house in the next 20 years.

Must admit though these property barrons dont help as they buy all the cheap housing so they can rent them out.
 
I agree, I feel really sorry for people who want to get onto the property ladder. Although prices locally have rocketed recently, we are still a relatively affordable area compared with some parts of the country.

Wages certainly haven't risen at the same rate that property prices have soared.
 
i cant afford to buy a house now,we are stuck because of the rise in the house prices,we need a min 3 bed and im not prepared to spend a stupid amount of money on a house thats not worth all that money, im waiting for the crash if theres gonna be one,doubt its gonna happen, for a terrace house in accy that was 22 grand 5yrs ago now is around 80 its not worth the money,i hate the fact that we cant even afford to buy a 1 bed flat nevermind a 3 bed terrace,and i know that there is lots of peeps in the same situation as us,ahh i feel better now thats my rant for today
 
jackyalex said:
i cant afford to buy a house now,we are stuck because of the rise in the house prices,we need a min 3 bed and im not prepared to spend a stupid amount of money on a house thats not worth all that money, im waiting for the crash if theres gonna be one,doubt its gonna happen, for a terrace house in accy that was 22 grand 5yrs ago now is around 80 its not worth the money,i hate the fact that we cant even afford to buy a 1 bed flat nevermind a 3 bed terrace,and i know that there is lots of peeps in the same situation as us,ahh i feel better now thats my rant for today
Click to expand...

Heres me and you waiting for the crash then.

And I agree they arnt worth the money.
 
When I first moved to London I thought I'd be renting forever, as prices were way beyond what I could afford to pay. Luckily the crash that happened in the early nineties allowed me to get a foot on the property ladder.

I think waiting is a good idea. No way have wages around here increased at the rate that property prises have risen. People that are being tempted to take out five times their salary mortgages must be mad.
 
House prices throughout the country are ridiculously high. When I worked on the community, I visited goodness knows how many young families who had bought brand new houses. You could tell that they were struggling to pay for them, as there was very little furniture, no holidays etc. When the interest rates rise significantly, and they will because they always do. Not only will these families be in Dickie's Meadow but they will also be in negative equity because of the corresponding fall in house prices.

I would not pay £100,000 for a terrace. I paid £22,000 for mine in 1990. Some terraces are of decent build but in slightly dodgy areas. They are being bought by letting agencies who are renting them out to people who couldn't give a toss about the area. These cheaper houses are worth buying. They are often a good solid build, decent sized bedrooms, some of which could convert to 2 rooms. My house has found itself in one of these areas due to landlords moving undesirables in. Areas like this need decent people who care about where they live in order to help improve the areas. I love my little house and I have to say that there has definitely been some improvement in my area over the last 12 months.
 
lettie said:
They are being bought by letting agencies who are renting them out to people who couldn't give a toss about the area. These cheaper houses are worth buying. They are often a good solid build, decent sized bedrooms, some of which could convert to 2 rooms. My house has found itself in one of these areas due to landlords moving undesirables in.
Click to expand...


Bugger thats a shame, I had almost convinced myself we had moved to a rented house in a dodgy area to get my daughter in a half decent school.:eek:
 
crikey i remember when a house cost £9,000 for a desent one! that was only 20 year ago, now you can buy a dump for 50 to 60 grand:confused: bloody stupid!
 
panther said:
crikey i remember when a house cost £9,000 for a desent one! that was only 20 year ago, now you can buy a dump for 50 to 60 grand:confused: bloody stupid!
Click to expand...

Money maketh the world go round. There will be another crash and it will be a big un. You know when prices are crazy when 2 people on the national average wage cant afford to buy a house to call their own. As for renting in desirable areas it can almost match a mortgage in monthly cost.
 
house prices are ridiculous all around the country not just accy and the killer for the young is theres sod all anybody can do about it.:(
 
SPUGGIE J said:
As for renting in desirable areas it can almost match a mortgage in monthly cost.
Click to expand...

what are houses to rent theses days if you go private? £100 give or take ....council about £50/60 and housing association £50/70+ again! so yeh around the same as buying but a lot will rent because they dont have to worry about rent so much, cuz their house wont get took off em if they suddenley cant afford to pay it!
 
panther said:
what are houses to rent theses days if you go private? £100 give or take ....council about £50/60 and housing association £50/70+ again! so yeh around the same as buying but a lot will rent because they dont have to worry about rent so much, cuz their house wont get took off em if they suddenley cant afford to pay it!
Click to expand...

Average rent in Falkirk Council owned property is approx £63 a week but private rental in a property of eqaul standard is £105 a week approx. At least with renting you dont have maintenance worries or the cost of new kitchen units nor a new central heating system unlike bought property.
 
It's swings and roundabouts. With renting you don't have to pay for repairs and if you have a decent landlord who actually does the repairs it's OK but you'll always be paying rent whereas with a mortgage there is a light at the end of the tunnel even if it's a dark narrow tunnel whilst you're still paying. One day there'll be an end to it with the mortgage paid off.
 
WillowTheWhisp said:
It's swings and roundabouts. With renting you don't have to pay for repairs and if you have a decent landlord who actually does the repairs it's OK but you'll always be paying rent whereas with a mortgage there is a light at the end of the tunnel even if it's a dark narrow tunnel whilst you're still paying. One day there'll be an end to it with the mortgage paid off.
Click to expand...

Very true but sadley I cant afford to buy at the mo so stuck with renting. :(
 
Spug, National av wage is ~£25K/pa so you can conservatively afford £100K if there is 2 of you(Not that I would but thats using teh multiplier that has been in use for over 20 years)

Houses in Accy start at ~£60-70K in areas such as Spring Hill. Some of its a bit rough, other bits are fine, my Mum still lives there and has done for >50 years.

We were lucky, we bought our first house in 95, paid £35K for a nice house in Westwood street. Sold it 4 years later for 36K, then we bought our current house. We paid peanuts for it in real terms to what its worth now (although we have put a heck of a lot of money into it.). I probably couldn't afford to buy in this area now and I certainly couldn't buy one in teh condition ours is now.
 
On my own and the average national wage for Scotland is according to the news on Sat evening £12,576 which was a shock to the system. Though it is brought down because of the amount of part time work in this neck of the woods.
 
although house prices have rocketed around here recently they are still nowhere near as high as where i was living
which was the whole reason i moved back to the area
if i was to buy my rented council house in the rough end of bath (which covered about 80% of the city)
i would have been looking at nearly £200,000 for a 2 up 2 down
whereas my three bed terrace cost just under £53,000 2 years ago and it's not in that bad an area
 
WillowTheWhisp said:
It's swings and roundabouts. With renting you don't have to pay for repairs and if you have a decent landlord who actually does the repairs it's OK but you'll always be paying rent whereas with a mortgage there is a light at the end of the tunnel even if it's a dark narrow tunnel whilst you're still paying. One day there'll be an end to it with the mortgage paid off.
Click to expand...

I totally agree with 'the light at the end of the tunnal' but for me to obtain a mortgage of £100.000, that light wouldnt be for 35 years, Id be 65 then and only probably 15 years of retirement.:D
 
entwisi said:
Spug, National av wage is ~£25K/pa so you can conservatively afford £100K if there is 2 of you
Click to expand...


This is the oft quoted figure, that takes into account the soaring salaries of city fat cats and their million pound bonuses etc.

I've been trying to find out the average wage in Hyndburn. From the jobs I've seen advertised they aren't anywhere near as much twenty five grand a year. Many pay the minimum wage, or are heavily commission weighted salaries, which doesn't really help you raise a hundred grand mortgage.

Happily, through shrewdish moves and some luck, I was mortgage free eleven years after buying my first property. It still doesn't stop me feeling sorry for people trying to get onto the property ladder, or struggling with massive mortgages.
 
Even with the fat cat salaries, it doesn't skew it that much.

I think you'll find that a lot of people who live in Hyndburn work outside it. I see a lot of people driving into Manchester every day and some idiots even drive as far as Knutsford :D I'm sure Baxenden must be a ghost town during the day!

Hyndburn was always a manufacturing town which is historically low paid, with that now gone abroad it seems to be service industry related that is holding it up. Again one of the lowest salaried industries.


My advice to people is to be prepared to travel and to be ambitious. There are so many people I meet who will happily(???) plod on through life doing the same job etc. If you want better pay you have to go after it. This may mean working a distance away, it may even mean looking long and hard at what skills you have and deciding to make a significant change.

Up to now I've sold TVs and HiFis, worked the pub restaurant industry, done Call Centre work before arriving where I am currently in IT. If IT fell through I'm sure I'd find something else, plumbing/sparky would probably be my next port of call but TBH I would be happy to do anything in teh short term till I set out my new plan for world domination.(Actualy I fancy being the bloke who hires out sunbeds on a nice beach somewhere :D)

Not everyone can/wants to make these sort of changes I know but if IT is your choice to stay in that job then you can't then complain that wages in Accy are rubbish.
 
You must log in or register to reply here.
Back
Top