gfromls Posted August 27, 2006 Share Posted August 27, 2006 In West Devon the average price of £225,891 is 16 times the average wage of £14,040. And in Cornwall property prices in the Penwith area, at £207,103, are 14 times the average wage of £14,716. http://firstrung.co.uk/articles.asp?pageid...&cat=44-0-0 Quote Link to comment Share on other sites More sharing options...
Guest Shedfish Posted August 27, 2006 Share Posted August 27, 2006 there's some very bearish stuff on FirstRung this weekend! "This week the BBA reported that mortgage applications were down 20% in July, the CML and RICS that affordability was 300% worse than in the 80's and the Woolwich that buyers are looking for any excuse to pull out of a transaction. That hasn't deterred our chums at Haart estate agents who optimistically expect a record Bank Holiday weekend." >> link Quote Link to comment Share on other sites More sharing options...
penguin Posted August 27, 2006 Share Posted August 27, 2006 finally some realsitic wage figures, yes ur right, wages are this low in the west country yet house prices are so far out of reach its a complete joke, how on earth is anyone gona get a mortage on 14k, if you have no degree skills ur ******ed basically, like me only able to get shitty retail work which is my most hated proffesion and i sure as hell aint goin to uni to get into thousands of pounds worth of debt just to get a bit of paper, so i know where ur at fellow west country 'an! Quote Link to comment Share on other sites More sharing options...
Realistbear Posted August 27, 2006 Share Posted August 27, 2006 finally some realsitic wage figures, yes ur right, wages are this low in the west country yet house prices are so far out of reach its a complete joke, how on earth is anyone gona get a mortage on 14k, if you have no degree skills ur ******ed basically, like me only able to get shitty retail work which is my most hated proffesion and i sure as hell aint goin to uni to get into thousands of pounds worth of debt just to get a bit of paper, so i know where ur at fellow west country 'an! How can even a decently paid person afford a house in that neck of the woods? A solicitor, for example, might be paid around 35k in a smallish sized town and could easily afford a 2.5 X mortage and buy something for around 100k. A shed? Quote Link to comment Share on other sites More sharing options...
sun n sea Posted August 27, 2006 Share Posted August 27, 2006 As has been pointed out to me elsewhere on this site- people from richer parts of the country and London especially are cashing in and getting out- apparently London is a cr@p hole (shock horror)and our nice part of the world is a prime target- "we can buy 3 houses in cash in your area" and "we expect a few sados (read locals) to complain" also "stand by as there are 1000's of people coming". So basically Penguin me old fruit us country bumpkins are fecked- the rich are coming and we've had it. Young local people must be expected to rent the BTL's (whose rent in a lot of cases is too expensive for local wages) or live with parents forever. It's the same for anyone from Cornwall, Devon or Dorset- we're being elbowed out of the way. In my neck of the woods wages are roughly the same as yours- there isn't that big a difference between West and East of the county. 100K round here buys you zip- not even a "trailer home" they're going for around 135K. What I can't understand is how these people are expecting to earn a living- fuel prices, council tax and the general cost of living is still very high. Look in the local papers and 80%+ of jobs advertised are for under 20 grand. I have run my own business for nearly 20 years in this area and I've met a lot of people lately who are in the same industry looking to move down here and start up in competition. I know for a fact local supply already outstrips demand. If they do setup in the area they're going to be fighting hard for every job- and that doesn't make for a bumper wage packet. The only way I make it pay is to work for customers all over the country- I do practically zero local work anymore- it won't pay the bills. What's going to happen? I haven't got a clue- until something happens in the wider economy we're still seen as a good value area- ignoring wages and job opportunities of course. I'm just going to wait and see- my money is invested in my business.... until sense is restored. (I wil stand by to be accused of being bitter etc. etc. etc.) Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted August 27, 2006 Share Posted August 27, 2006 there's some very bearish stuff on FirstRung this weekend! "This week the BBA reported that mortgage applications were down 20% in July, the CML and RICS that affordability was 300% worse than in the 80's and the Woolwich that buyers are looking for any excuse to pull out of a transaction. That hasn't deterred our chums at Haart estate agents who optimistically expect a record Bank Holiday weekend." >> link Interesting that you refer to it as "bearish", I'd call it realistic and honest to the principles/ideology that caused the original idea behind the creation of the company Quote Link to comment Share on other sites More sharing options...
Guest mattsta1964 Posted August 27, 2006 Share Posted August 27, 2006 In West Devon the average price of £225,891 is 16 times the average wage of £14,040. And in Cornwall property prices in the Penwith area, at £207,103, are 14 times the average wage of £14,716. http://firstrung.co.uk/articles.asp?pageid...&cat=44-0-0 Utter bloody madness. We should be seeing serious civil unrest. I can't understand why we aren't Quote Link to comment Share on other sites More sharing options...
Caledonian-Emigre Posted August 28, 2006 Share Posted August 28, 2006 Although not on the same scale, the same thing is happening in the Highlands. Those dramas like "Monarch of the Glen" opened the floodgates to people wanting escape the stresses and overcrowding of England. From the viewpoint of people in the West Country, Scotland and Wales, the hoards of second home buyers or retirees are no different than the recent wave of immigrants to the UK as a whole. In fact they are probably worse - at least the Poles and Lithuanians don´t come along and price the locals out of their houses (they can´t afford either). Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted August 28, 2006 Share Posted August 28, 2006 Although not on the same scale, the same thing is happening in the Highlands. Those dramas like "Monarch of the Glen" opened the floodgates to people wanting escape the stresses and overcrowding of England. From the viewpoint of people in the West Country, Scotland and Wales, the hoards of second home buyers or retirees are no different than the recent wave of immigrants to the UK as a whole. In fact they are probably worse - at least the Poles and Lithuanians don´t come along and price the locals out of their houses (they can´t afford either). They can if their temporary status (as migrants looking to earn a chunk of money to take back home) means that living 8/10 to a house is a viable short term means to an end, they will also be able to price locals out of their jobs as well under those circumstances. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.