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Most-Affordable Places For First-Time Buyers Revealed

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http://www.bbc.co.uk/news/business-36866975

The most-affordable - and the least-accessible - places for first-time buyers have been revealed by the UK's largest mortgage lender, the Halifax.

Compared to local earnings, the cheapest places to buy are mostly in western Scotland and northern England.

The most expensive are all in London.

East Dunbartonshire, on the northern fringes of Glasgow, is the most-affordable place in the UK. On average, house prices here are just 2.6 times local annual earnings.

By contrast, the least-affordable place is Brent in north London, where house prices are on average 12.5 times local earnings.

The Halifax data also shows that first-time buyers face the highest prices in London, paying £384,000 on average, compared to just £110,00 in Northern Ireland.

12.5 and the rest.

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I genuinely cannot fathom why anyone would want to live in any of those places in the top. Good grief.

Am I right in thinking there is a bit of double standards here.

If earnings multiples are high in desirable prime locations, then we complain that earnings ratios should be more influential in the house price. And desirability should not trump earnings related affordability.

But in less desirable areas, suddenly it's not so important that desirability and scarcity are such key factors?

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Am I right in thinking there is a bit of double standards here.

If earnings multiples are high in desirable prime locations, then we complain that earnings ratios should be more influential in the house price. And desirability should not trump earnings related affordability.

But in less desirable areas, suddenly it's not so important that desirability and scarcity are such key factors?

There is clearly desirability in those areas, but I can't understand why. Unless of course the be-all-and-end-all of those people is to either a) live in a sweltering multicultural sh-thole or b ) they want to shave 10 minutes off their daily commute and that's all that matters. Work to live etc.

Edited by spunko2010

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...

East Dunbartonshire, on the northern fringes of Glasgow, is the most-affordable place in the UK. On average, house prices here are just 2.6 times local annual earnings.

...

East Dunbartonshire, that hot bed of global economic activity. If they're suggesting FTB'ers should migrate there I'm not even going to read the propaganda.

Alternate strategy:

1. Move to where the jobs for your career are, which might not be the UK, and rent the cheapest place you're prepared to live in.

2. Work like an idiot and develop that career.

3. Save earnings increases and invest them sensibly.

4. Do it for circa 10 years.

5. Move to the shires, maybe get a low paid less stressful job, buy a modest home and live happily ever after.

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There is clearly desirability in those areas, but I can't understand why. Unless of course the be-all-and-end-all of those people is to either a) live in a sweltering multicultural sh-thole or b ) they want to shave 10 minutes off their daily commute and that's all that matters. Work to live etc.

Everyone has their reasons. If you have no desire to live in those areas, then why worry about it? Maybe its a good thing that they don't want to live, where you want to live?

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There is clearly desirability in those areas, but I can't understand why. Unless of course the be-all-and-end-all of those people is to either a) live in a sweltering multicultural sh-thole or b ) they want to shave 10 minutes off their daily commute and that's all that matters. Work to live etc.

The trouble is getting a job in those locations that you could commute to. The nearest big population centres are 1 hour+ away. Living in some semi rural location would be great but not if it adds 10hours + to the working week.

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I'm presuming these stats are for local wages vs local house prices? They look at wages in the place, and house prices in the place, and work from there?

Hence these stats do factor in the salary you would earn if you worked local to your house?

I'm not sure about this, I'm just raising the possibility that this is what the stats mean.

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East Dunbartonshire, that hot bed of global economic activity.

I saw these figures a day or two ago, and I'm suspicious. The BBC doesn't give the details, but Independent (amongst others) says

the area just north of Glasgow has an average property price of £97,089, 2.6 times the gross average annual earnings in the area.

This means that the gross average annual income in East Dunbartonshire is £37,341.92. Really?

Edit. The Evening Times says

Government statistics show that mean earnings in East Dunbartonshire are £37,716 on average, around £5,000 more that the Scottish average of £32,472.

Oh well.

Edited by Scunnered

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Everyone has their reasons. If you have no desire to live in those areas, then why worry about it? Maybe its a good thing that they don't want to live, where you want to live?

Yes, but if you check my original post, I was asking for those reasons. I'm still one the wiser!

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I saw these figures a day or two ago, and I'm suspicious. The BBC doesn't give the details, but Independent (amongst others) says

This means that the gross average annual income in East Dunbartonshire is £37,341.92. Really?

Edit. The Evening Times says

Oh well.

http://www.parliament.scot/ResearchBriefingsAndFactsheets/S4/SB_15-82_Earnings_in_Scotland_2015.pdf

This shows East Dunbartonshire to have median earnings towards the lower end of the spectrum

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Yes, but if you check my original post, I was asking for those reasons. I'm still one the wiser!

Hmmm, if you don't understand already why living in Brent or Slough is a desirable prospect for many thousands of people, I'm probably not going to convince you here.

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I genuinely cannot fathom why anyone would want to live in any of those places in the top. Good grief.

...considering East Dunbartonshire is adjacent to Loch Lomond, The Trossachs and includes Bearsden the affluent suburb of Glasgow ...can't see what your problem is ...I think like the 'Remain' campaign it's a case of the uninformed.... :rolleyes:

Edited by South Lorne

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East Dunbartonshire, that hot bed of global economic activity. If they're suggesting FTB'ers should migrate there I'm not even going to read the propaganda.

Alternate strategy:

1. Move to where the jobs for your career are, which might not be the UK, and rent the cheapest place you're prepared to live in.

2. Work like an idiot and develop that career.

3. Save earnings increases and invest them sensibly.

4. Do it for circa 10 years.

5. Move to the shires, maybe get a low paid less stressful job, buy a modest home and live happily ever after.

I know it's horses for courses, but I can see myself retiring in Scotland having grown up there as a kid.

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...considering East Dunbartonshire is adjacent to Loch Lomond, The Trossachs and includes Bearsden the affluent suburb of Glasgow ...can't see what your problem is ...I think like the 'stay' campaign it's a case of the uninformed.... :rolleyes:

It's actually a lovely part of the world - an alternative to moving abroad for those who can work with the internet.

Edited by canbuywontbuy

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I know it's horses for courses, but I can see myself retiring in Scotland having grown up there as a kid.

I seriously considered it. Some very very beautiful countryside. Was lucky enough to be able to do a loop over a few weeks in late winter and then follow that up with a loop in the middle of summer. The difference was amazing.

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It's actually a lovely part of the world - an alternative to moving abroad for those who can work with the internet.

... or not work with the internet...

Precisely, if the idea is to escape the rat race I'd struggle to think of too many better locations within the UK to

do it - which makes an assumption or two perhaps!

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I have been looking into remote working in Scotland a bit. One problem is internet speeds in the sticks. There is narrow horizontal band of fast fibre running across taking in glasgow and edinburgh but it's tricky going north.

virgin-cable-map.jpg

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Precisely, if the idea is to escape the rat race I'd struggle to think of too many better locations within the UK to

do it - which makes an assumption or two perhaps!

The Cumbria places also look very tempting.I had a look on righmove after seeing the article and looking at houses between the lake district and the coast.Very nice 3 bed semis in villages/very small towns with nice gardens and the Cumbrian mountains in the background for £110k.Keswick only 16 miles away where the same houses are £300k+.Problem is,i suddenly thought like a BTLer,2nd home owner.Hmm thats cheap,that would rent for holidays and be great for us as a 2nd home etc.

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There is clearly desirability in those areas, but I can't understand why. Unless of course the be-all-and-end-all of those people is to either a) live in a sweltering multicultural sh-thole or b ) they want to shave 10 minutes off their daily commute and that's all that matters. Work to live etc.

Its clearly b since they want to minimise the interaction on the multicultural shithole public transport..

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The Cumbria places also look very tempting.I had a look on righmove after seeing the article and looking at houses between the lake district and the coast.Very nice 3 bed semis in villages/very small towns with nice gardens and the Cumbrian mountains in the background for £110k.Keswick only 16 miles away where the same houses are £300k+.Problem is,i suddenly thought like a BTLer,2nd home owner.Hmm thats cheap,that would rent for holidays and be great for us as a 2nd home etc.

Not a good end to that post.....but more seriously, there are some decent value money properties in Cumbria in some nice locations provided you stay away from the more touristy bits which do attract some rather silly money - due in no small part to the second homes & just rent it out innit brigade.....

I was surprised where I live didn't make the list, although Pendle isn't a million miles away. I'm 5 minutes walk from open countryside, 20-30 minutes drive from Bury, Burnley, Bolton or Blackburn; 30-60 minutes drive from Manchester; 60-90 minutes from Leeds or Sheffield and its a nice quite place to live with 2 bed properties in decent areas starting at barely £50,000.

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