neon tetra Posted January 28, 2011 Share Posted January 28, 2011 The average FTB without help is now 37, or so we have oft been told. However, this figure seems to have been around for about a year now. 1.) who published this research? 2.) when wiill it be updated...? Quote Link to comment Share on other sites More sharing options...
Lennon Posted January 28, 2011 Share Posted January 28, 2011 The average FTB without help is now 37, or so we have oft been told. However, this figure seems to have been around for about a year now. 1.) who published this research? 2.) when wiill it be updated...? Also - How is it calculated... It always struck me as ****** - for the average to be that high you had to have a bunch of people buying in there mid to late 40's - I suspect that at least some of these are buying using profits from somewhere they have already sold, having spent 3-6months etc. renting in the meanwhile. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 28, 2011 Share Posted January 28, 2011 The average FTB without help is now 37, or so we have oft been told. However, this figure seems to have been around for about a year now. 1.) who published this research? 2.) when wiill it be updated...? That was last year. Now it's 62. Quote Link to comment Share on other sites More sharing options...
Pent Up Posted January 28, 2011 Share Posted January 28, 2011 (edited) Also - How is it calculated... It always struck me as ****** - for the average to be that high you had to have a bunch of people buying in there mid to late 40's - I suspect that at least some of these are buying using profits from somewhere they have already sold, having spent 3-6months etc. renting in the meanwhile. Also why didn't they buy 10 or 15 years ago when prices were half? Edited January 28, 2011 by Pent Up Quote Link to comment Share on other sites More sharing options...
W1zard Posted January 28, 2011 Share Posted January 28, 2011 Is there any statistic how many people can not step on property ladder? This must derive from the average of all new mortgages maybe? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 28, 2011 Share Posted January 28, 2011 I count myself lucky... As I get nearer to the limit when I could take a mortgage and pay it off before retiring, they raise the retirement age. Quote Link to comment Share on other sites More sharing options...
stu2006 Posted January 28, 2011 Share Posted January 28, 2011 From my personal point of view im 33 almost 34. I earn just above average salary, based on 25,000, and have almost 10 grand in savings (would of been around 16-17K but was left with around 6K debt when I split from my ex wife...dont ask) Im currently renting now after moving back home to sort out my finances for a while. Ok so now Im left with a couple of options Ideally Id like an average 3 bed semi as there just me with a bit of a garden. The ones in my price range approx 90k are in totally rubbish areas. So Im stuck between renting for ever or buying a house Id probably either never sell or be stuck in a life of unhappiness. So if there is a property crash in the next 2 years, im praying for about 20% as that would make the nicer ones around here affordable, Id be around 36-37 How depressing! Saying that with the recent warnings from the PM about the economy and its based on HPI etc etc then I dont think 20% is unachievable. Not that I know about economics just common sense really Quote Link to comment Share on other sites More sharing options...
Unsafe As Houses Posted January 28, 2011 Share Posted January 28, 2011 (edited) Also, how is parental help actually defined, there's a world of difference between a 30k gift on the one hand and a 2k loan and second-hand cooker on the other. Edited January 28, 2011 by Unsafe As Houses Quote Link to comment Share on other sites More sharing options...
PopGun Posted January 28, 2011 Share Posted January 28, 2011 I count myself lucky... As I get nearer to the limit when I could take a mortgage and pay it off before retiring, they raise the retirement age. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted January 28, 2011 Share Posted January 28, 2011 The average FTB without help is now 37, or so we have oft been told. However, this figure seems to have been around for about a year now. 1.) who published this research? 2.) when wiill it be updated...? .. and as a 37 year old, does this mean I have to buy a house? Quote Link to comment Share on other sites More sharing options...
Timm Posted January 28, 2011 Share Posted January 28, 2011 .. and as a 37 year old, does this mean I have to buy a house? Yes. It is your moral duty to your comrades, your country and your Queen. *stands for national anthem* Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 28, 2011 Share Posted January 28, 2011 From my personal point of view im 33 almost 34. I earn just above average salary, based on 25,000, and have almost 10 grand in savings (would of been around 16-17K but was left with around 6K debt when I split from my ex wife...dont ask) Im currently renting now after moving back home to sort out my finances for a while. Ok so now Im left with a couple of options Ideally Id like an average 3 bed semi as there just me with a bit of a garden. The ones in my price range approx 90k are in totally rubbish areas. So Im stuck between renting for ever or buying a house Id probably either never sell or be stuck in a life of unhappiness. So if there is a property crash in the next 2 years, im praying for about 20% as that would make the nicer ones around here affordable, Id be around 36-37 How depressing! Saying that with the recent warnings from the PM about the economy and its based on HPI etc etc then I dont think 20% is unachievable. Not that I know about economics just common sense really Hmmm. I'm going to take a bull's standpoint here - if everyone in your position wanted a three bedroom house, then there really isn't enough property on this island. If you're planning to move in there with someone else and a little one, then I might have more sympathy for your situation. Quote Link to comment Share on other sites More sharing options...
fluffy666 Posted January 28, 2011 Share Posted January 28, 2011 Yes. It is your moral duty to your comrades, your country and your Queen. *stands for national anthem* Hell, I'll buy 3. When they ask about my income, how truthful should I be? Very Not Very Complete Lie? Quote Link to comment Share on other sites More sharing options...
porca misèria Posted January 28, 2011 Share Posted January 28, 2011 Also why didn't they buy 10 or 15 years ago when prices were half? 'cos we were priced out in the 1980s bubble (when rentals were a whole lot more horrendous than today, too) and fled the country, thus missing out on 1990s low prices. Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted January 28, 2011 Share Posted January 28, 2011 Also why didn't they buy 10 or 15 years ago when prices were half? Because they'd just come out of university? Quote Link to comment Share on other sites More sharing options...
rantnrave Posted January 28, 2011 Share Posted January 28, 2011 Because they'd just come out of university? My situation exactly. A couple of years ago, I helped a mate remove some carpets from his house. Underneath were the property pages from the local rag at the time I was just graduating from university nearby. I wanted to weep. Quote Link to comment Share on other sites More sharing options...
Goat Posted January 28, 2011 Share Posted January 28, 2011 Also - How is it calculated... It always struck me as ****** - for the average to be that high you had to have a bunch of people buying in there mid to late 40's - I suspect that at least some of these are buying using profits from somewhere they have already sold, having spent 3-6months etc. renting in the meanwhile. You misunderstand, that's the age of THE first time buyer, i.e. the only FTB that they've actually approved in the last 18 months Quote Link to comment Share on other sites More sharing options...
RichB Posted January 28, 2011 Share Posted January 28, 2011 These were from the CML published stats. That figure is a median - ie 50% fall at or below that age - as are the salaries associated with it. I used to download and play with the numbers till late 2007 when they made it members only. Here is the last thing I put together, hope it helps. The age is missing, but it does show how the divergence from national median salary diverged RAPIDLY under labours 'governance'. http://www.housepricecrash.co.uk/forum/index.php?app=core&module=attach§ion=attach&attach_rel_module=post&attach_id=5499 Quote Link to comment Share on other sites More sharing options...
Goat Posted January 28, 2011 Share Posted January 28, 2011 (edited) Also why didn't they buy 10 or 15 years ago when prices were half? Suggest you search BBC for 2001 house price stories, this is a good start: http://news.bbc.co.uk/1/hi/business/1689334.stm Average earners have been priced out of the housing market in many areas of the country, according to a new survey.New figures show that in 120 out of 171 counties and unitary authorities, purchasing a home is beyond an average man's wage. It's a mistake to think the bubble was a 2003 - 2007 phenomenon; really most of the damage (at least in the SE) was done in 1997 - 2003. You've really got a whole generation of people born mid 70s onwards who've never been close to being able to buy anything vaguely acceptable. Edited January 28, 2011 by Goat Quote Link to comment Share on other sites More sharing options...
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