The Masked Tulip Posted October 17, 2010 Share Posted October 17, 2010 http://www.kentnews.co.uk/kent-news/Homebuyers-struggle-as-prices-10-times-average-pay-newsinkent41040.aspx?news=local First-time buyers are still struggling to get a foothold on Kent's property ladder, with house prices more than 10 times the county's average wage. According to a new report by the National Housing Federation, the average cost of a home in the county is now £218,462 despite three years passing since the economic downturn hit the UK. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted October 17, 2010 Share Posted October 17, 2010 Read a shocker of an article in the TImes yesterday. Although it 'pushed the right buttons' in terms of highlighting the lunacy of high house prices and the unfair impact on younger generations, the underlying assumption is that hps today are where they should be based on shortage of supply etc. Tempted to email the writer and ask whether they think today's hps have a strong foundation based on good economic growth and rational lending behaviour... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted October 17, 2010 Share Posted October 17, 2010 Read a shocker of an article in the TImes yesterday. Although it 'pushed the right buttons' in terms of highlighting the lunacy of high house prices and the unfair impact on younger generations, the underlying assumption is that hps today are where they should be based on shortage of supply etc. Tempted to email the writer and ask whether they think today's hps have a strong foundation based on good economic growth and rational lending behaviour... if there is a shortage of supply, that implies there are more buyers WITH a mortgage and savings available at 10 times the average wage, than there are properties. As there are many properties on the market UNSOLD and hanging there in Kent, with sales at low levels, then just what shortage are they talking about? Quote Link to comment Share on other sites More sharing options...
Kyoto Posted October 17, 2010 Share Posted October 17, 2010 if there is a shortage of supply, that implies there are more buyers WITH a mortgage and savings available at 10 times the average wage, than there are properties. As there are many properties on the market UNSOLD and hanging there in Kent, with sales at low levels, then just what shortage are they talking about? Good point well made. Whilst there is still 1 house on the Market, there really isn't a shortage. Quote Link to comment Share on other sites More sharing options...
Freeholder Posted October 17, 2010 Share Posted October 17, 2010 (edited) Plenty of houses for sale in the part of Kent where I live. I my area the average salary is £22,000pa and a little FTB type terrace costs about £150,000. We have a way to go yet before effective demand starts to eat up the available supply. edit typo Edited October 17, 2010 by Freeholder Quote Link to comment Share on other sites More sharing options...
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