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The Masked Tulip

Homebuyers Struggle As Prices 10 Times Average Pay

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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.

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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...

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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?

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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.

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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 by Freeholder

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  • 144 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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