Pmax2020 Posted April 13 Author Share Posted April 13 17 minutes ago, cbathpc said: Source: Your arse Source: Buying in Scotland in 2007 on an entry level wage with my Mrs. Compared with looking at prices in 2024 with my daughter in mind. Like for like properties have halved in price in real terms. In 2007 many people on full time wages categorically could not afford to buy anything. That is unequivocally not the case now for the vast majority of the UK. I remember viewing a 1 bed flat in 2007 that was riddled with damp and the living room ceiling was on the floor. It was ‘offers over’ 58k which was a “come get me price”…. it still ended up selling for 65 ish which I couldn’t afford working full time for a decent company. Today, the apprentices at my work get 24k and there are comparable flats for 60-70k!! 2.5x income versus 6x. Sure, we’re not talking about 3 bed family homes, which should be more affordable. But in terms of getting on the property ladder, it’s way easier today for young people. Infinitely easier for parents to help their kids too. Quote Link to comment Share on other sites More sharing options...
Johnno1167 Posted April 13 Share Posted April 13 6 hours ago, Pmax2020 said: Source: Buying in Scotland in 2007 on an entry level wage with my Mrs. Compared with looking at prices in 2024 with my daughter in mind. Like for like properties have halved in price in real terms. In 2007 many people on full time wages categorically could not afford to buy anything. That is unequivocally not the case now for the vast majority of the UK. I remember viewing a 1 bed flat in 2007 that was riddled with damp and the living room ceiling was on the floor. It was ‘offers over’ 58k which was a “come get me price”…. it still ended up selling for 65 ish which I couldn’t afford working full time for a decent company. Today, the apprentices at my work get 24k and there are comparable flats for 60-70k!! 2.5x income versus 6x. Sure, we’re not talking about 3 bed family homes, which should be more affordable. But in terms of getting on the property ladder, it’s way easier today for young people. Infinitely easier for parents to help their kids too. Really depends where you live . here , in south west where I’m working : ok town. If you want a flat , 1 bed (non studio, so has a bedroom plus living room), in an ok part of town (not the crime ridden area), £130K. Then you have the issue that nearly all flats are leasehold . That’s 2-3k/ yr on top of mortgage . try that if you’re starting out on median wage . Good luck . Quote Link to comment Share on other sites More sharing options...
MerchantNavy Posted April 13 Share Posted April 13 10 hours ago, Dreamcasting said: IMO It'll either be a mainly SE crash, or other area get to SE prices. Pick your poison. Quite possibly. Coincidentally at the last three block viewings, there Londoners present who were looking to get out if the capital. Explains why I got outbid on all despite putting in a good offer. Quote Link to comment Share on other sites More sharing options...
Stewy Posted April 14 Share Posted April 14 18 hours ago, mynamehere said: I don't mind the cold anywhere near as much, but hate rain so always been drawn to the dark spots on the map. This is a great graphic which shows how most people's knowledge of weather is very poor. The north-south weather debate is moot. It's more about east-west. When I moved across the Pennines to Teesside I was surprised how people got caught out by rain here. It's because it's unusual. In the northwest of England we'd always carry umbrellas. If you don't like the heat, and don't want the rain too, Lincolnshire through Northumberland should be fine. Lots of cheap houses ✓✓ Quote Link to comment Share on other sites More sharing options...
Stewy Posted April 14 Share Posted April 14 18 hours ago, mynamehere said: I don't mind the cold anywhere near as much, but hate rain so always been drawn to the dark spots on the map. This is a great graphic which shows how most people's knowledge of weather is very poor. The north-south weather debate is moot. It's more about east-west. When I moved across the Pennines to Teesside I was surprised how people got caught out by rain here. It's because it's unusual. In the northwest of England we'd always carry umbrellas. If you don't like the heat, and don't want the rain too, Lincolnshire through Northumberland should be fine. Lots of cheap houses ✓✓ Quote Link to comment Share on other sites More sharing options...
70PC Posted April 14 Share Posted April 14 14 hours ago, Pmax2020 said: Source: Buying in Scotland in 2007 on an entry level wage with my Mrs. Compared with looking at prices in 2024 with my daughter in mind. Like for like properties have halved in price in real terms. In 2007 many people on full time wages categorically could not afford to buy anything. That is unequivocally not the case now for the vast majority of the UK. I remember viewing a 1 bed flat in 2007 that was riddled with damp and the living room ceiling was on the floor. It was ‘offers over’ 58k which was a “come get me price”…. it still ended up selling for 65 ish which I couldn’t afford working full time for a decent company. Today, the apprentices at my work get 24k and there are comparable flats for 60-70k!! 2.5x income versus 6x. Sure, we’re not talking about 3 bed family homes, which should be more affordable. But in terms of getting on the property ladder, it’s way easier today for young people. Infinitely easier for parents to help their kids too. https://scotland.shelter.org.uk/housing_policy/homelessness_in_scotland Quote Link to comment Share on other sites More sharing options...
Pmax2020 Posted April 14 Author Share Posted April 14 1 hour ago, 70PC said: https://scotland.shelter.org.uk/housing_policy/homelessness_in_scotland Someone’s yet to address the main point I’ve raised. In 2007, the cheapest properties in Scotland were 60-70k. In what could be described as frankly dangerous areas, they were still at least 40k. As a multiple of minimum wage and hundreds of thousands of entry level jobs - including working n call centre, production lines, retail etc, this was 6 or 7x income. In 2024, minimum wage is now 24k but the lower end of the market has barely risen 5-10% over the last 17 years. Quote Link to comment Share on other sites More sharing options...
Stewy Posted April 14 Share Posted April 14 21 minutes ago, Pmax2020 said: Someone’s yet to address the main point I’ve raised. In 2007, the cheapest properties in Scotland were 60-70k. In what could be described as frankly dangerous areas, they were still at least 40k. As a multiple of minimum wage and hundreds of thousands of entry level jobs - including working n call centre, production lines, retail etc, this was 6 or 7x income. In 2024, minimum wage is now 24k but the lower end of the market has barely risen 5-10% over the last 17 years. Houses are cheap for a 6'2" lump of muscle. ✓ Quote Link to comment Share on other sites More sharing options...
scottbeard Posted April 14 Share Posted April 14 3 hours ago, Stewy said: This is a great graphic which shows how most people's knowledge of weather is very poor. The north-south weather debate is moot. It's more about east-west. Well it is for RAIN it’s rain in the west dry in the east But For TEMPERATURE it’s still warm in the south cold in the north isn’t it Quote Link to comment Share on other sites More sharing options...
Speed1987 Posted April 14 Share Posted April 14 (edited) In 2007 houses were pumped by the subprime mortgage crisis. My understanding was that the banks pumped prices and overvalued them. I guess once they slumped, some just never reached that height again, due to a more free market environment. People are spending their money elsewhere and making better choices. Edited April 14 by Speed1987 Quote Link to comment Share on other sites More sharing options...
Stewy Posted April 14 Share Posted April 14 13 minutes ago, scottbeard said: Well it is for RAIN it’s rain in the west dry in the east But For TEMPERATURE it’s still warm in the south cold in the north isn’t it Spot on brah. ✓ Although I'm sat here in one of my gardens with a cuppa in a t-shirt in April in North Yorkshire✓ Quote Link to comment Share on other sites More sharing options...
70PC Posted April 14 Share Posted April 14 42 minutes ago, Stewy said: Houses are cheap for a 6'2" lump of muscle. ✓ 🤣 Quote Link to comment Share on other sites More sharing options...
zugzwang Posted April 14 Share Posted April 14 2 hours ago, Speed1987 said: In 2007 houses were pumped by the subprime mortgage crisis. My understanding was that the banks pumped prices and overvalued them. I guess once they slumped, some just never reached that height again, due to a more free market environment. People are spending their money elsewhere and making better choices. Delinquent lending to prime borrowers was idenitified as a greatest factor in the crisis. Subprime borrowers were evicted from their homes when Obama walked back on his promise to save them. He spent $9 trillion bailing out the bankers instead. Quote Link to comment Share on other sites More sharing options...
Pmax2020 Posted April 14 Author Share Posted April 14 5 hours ago, Speed1987 said: In 2007 houses were pumped by the subprime mortgage crisis. My understanding was that the banks pumped prices and overvalued them. I guess once they slumped, some just never reached that height again, due to a more free market environment. People are spending their money elsewhere and making better choices. Wholly true of a large portion of the lower end of the market in Scotland. To this day, every single monthly release of property prices flags up dozens of examples of small flats and houses selling for exactly the same price as 2007, often less money. A flat I had a rejected bid of 68k on in 2007 just sold for 66k in January. It was the Krusty and Phil factor back then that saw the prices of crap property balloon as everyone clambered to get on the market. Ex-local authority terraced houses near me, nice areas, 99% pensioners, little to no discernible crime, used to be 85/90k in 2007. Today, done up one’s max out at 115/120k. You know, in spite of the wages of younger people and those in low skilled work having doubled. Im not saying bigger family homes are particularly affordable, but in terms of getting your foot on the ladder, it’s considerably easier in Scotland nowadays. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted April 14 Share Posted April 14 6 hours ago, Stewy said: Spot on brah. ✓ Although I'm sat here in one of my gardens with a cuppa in a t-shirt in April in North Yorkshire✓ You're obviously just hardened to it - I was in the North West yesterday with two layers on! Quote Link to comment Share on other sites More sharing options...
Stewy Posted April 15 Share Posted April 15 14 hours ago, scottbeard said: You're obviously just hardened to it - I was in the North West yesterday with two layers on! Thanks to the sun it was probably 5C warmer in the garden than would be shown on a properly sited weather station. 🙂 🌻 Quote Link to comment Share on other sites More sharing options...
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