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Property Prices - I'm so fucking sick of this shit!

(240 Posts)
Quax Tue 29-Jul-14 06:43:07

I consider myself lucky to be a HA, rather than, private tenant, but our aim is to buy not rent.

We have moved out of London and are now in Surrey and the prices are just as bad. The government are offering initiatives to get us, first time buyers, to buy new builds, but the cheapest here for a 3 bed is £400K.

What the fuck is going on?

I hate my grimy, cramped flat but I stay because we can't afford private rents and don't want the insecurity of short term tenancies.

Our circumstances are complicated and we only clear 20k per annum. I have tried to increase this but it feels petty fucking pointless when I'd have to treble it before we could afford to buy.

The UK housing situation is a fucking disgrace!

BetteDavis01 Tue 29-Jul-14 06:52:49

I feel your pain op hmm

Is it really too much to ask that a person should be able to buy a modest home in which to raise their family?

I have raged and despaired too, it feels impossible. We privately rent and it feels very insecure.

I'm in Greater London and 3 bed semis have gone up by about 80k in the past year shock

Think of all that stamp duty the government in raking in.....angry

Quax Tue 29-Jul-14 07:09:17

Private renting is insecure. Twice I had landlords selling their property my home and giving 2 months notice. For that insecurity you get to pay double what HA/Councils charge. It's bloody unfair!

The only benefit of private rentals is that you get a modicum of control over where you live. That never applied to us - we always had to go with the cheapest available.

It shouldn't be too much to ask that, as a working family, you can afford to live in a home that is reasonably priced and suited to your circumstances.

I used to live in SW London Bette. It really upsets me that I can't afford to even rent where my family all still live.

MyGoldenNotebook Tue 29-Jul-14 07:35:12

It's awful isn't it. We are in a too small house (no dining space or storage) and in order to get a somewhere a little bigger we will be looking at paying £200k plus just for a normal sized terraced house (with a tiny garden) and this is on the Wirral. There are cheaper houses but they are in rougher areas far from the schools we want for DC sad

DoristheCamel Tue 29-Jul-14 07:40:59

Yep its an utterly shit situation. Totally wrong.
What is the average salary abd house price in this country atm?

RainbowTeapot Tue 29-Jul-14 07:43:22

I agree. We had to move right out at cost to career choice. We still have an ex ha house but at least it's ours. Its what I tell myself anyway.

bigkidsdidit Tue 29-Jul-14 07:44:03

Yes, it's shit. I don't know a single person my age who has bought in the last few years (which is most of my friends) without a big deposit from parents. Including me. It's unbelievable, and terrible.

SourSweets Tue 29-Jul-14 07:45:08

I hear you. We're not even renting atm. We moved out of our rented flat in London to stay with family and pay off the debt incurred by numerous, ever increasing rental deposits. We will (hopefully soon) move into another rental in the midlands but won't be able to buy until a decade of saving, probably.

teaandthorazine Tue 29-Jul-14 07:52:22

Don't worry OP, there will be plenty of posters along in a minute to tell you to 'just move out of the south east', because that's the solution, after all...you know wanting to live near friends, family, etc is terribly entitled, don't you? And if you just stop drinking takeaway coffees you'll be able to save up that £40k deposit in no time! hmm

I know how you feel. As I've said several times on these threads, the situation is shameful. Dp and I are late 30s/early 40s, in professional jobs and yet we are stuck in a cramped, damp flat because private rents have rocketed over the last few years, and so even a patch of garden is out of our reach. And buying is completely and utterly out of the question. The place we are living in atm would cost us over £260k - we can't afford that, ever.

But there are people out there who won't be happy until London is a super-rich ghetto, with all their teachers, nurses, cleaners and bloody baristas bussed in from 50 miles away at the crack of dawn every day...

Quax Tue 29-Jul-14 08:04:45

tea that attitude really pisses me off. I hate coffee but do indulge in the odd can of diet coke when I'm out. I can't be bothered to work out how many diet cokes equals a deposit on a house. The answer is obviously too fucking many!

If we were to live like misers we might have a deposit together within the next 40 years. What fucking good is that? DS will have grown up and we'll be old people.

There is no amount of cutting back that will get us a mortgage and there are no sodding jobs out there in order to up our income. We're 38 and 40. We've no chance at all.

MissLupescu Tue 29-Jul-14 08:19:06

We dont live anywhere near London and we are in this situation. The private rent is taking a huge chunk of our wages, we can't afford to save any more money. It will take years to save a big enough deposit and by that time the house prices gave shot up again.

I see a life of living in someone else's home, not being able to do anything to it to our taste and live with inspections every three months. And that only if Im lucky enough to find a decent landlord.

Any money we do manage to save up gets eaten up by moving costs.

It's depressing.

thecuntureshow Tue 29-Jul-14 08:26:28

OP please don't worry about how much you earn or how hard you work - because it makes no fucking difference

It's large cash lump sums that really make the difference, and if you're not lucky enough to get one- well, how cab you compete with those that do?

We thought about buying a 2 bed with help to buy but in the 18 months we've been thinking about it and saving money for it the ones in our borough have gone up from 350k to 580k.

Pretty excited about reading stories of those that just worked hard to buy a home (I'm not)... They're so inspiring! (They're not)

Namechangearoonie123 Tue 29-Jul-14 08:31:22

Yes, property prices are shocking but you're hardly taking full advantage of living where you are (not a criticism, there's just no point living in your area if you don't make the average wage for the area)

2 adults would clear more than 20k cleaning or in minimum wage jobs full time in Surrey

So what's going wrong?

lowcarbforthewin Tue 29-Jul-14 08:36:49

It is ludicrously expensive. A tatty three bed semi in a not so great area near me has just gone on the market for £250k. Looking at what they bought it for online, it was 200k 2 yeas ago. It is falling to bits, the garden is mostly trees and brambles. It is insane! I was browsing the website looking at other properties and they're all similarl, you are looking a at spending a lot of money and getting horrible properties here,

kim147 Tue 29-Jul-14 08:37:32

The whole statistics thing is confusing. People should be able to buy a starter home - or even flat - in the area they live. It may not be big - but they should be able to buy one. If you are on an average salary, then this should be possible. But it isn't. Something has gone very wrong.

I am lucky. I live in a part of the UK where I can afford to buy a flat at £100k. That's still 4 times average salary. And it's in the cheapest part of my city. But I was able to (and an inheritance helped with a good deposit).

I honestly do not know how the maths works out. Some people must have expensive mortgages and will pay the price when interest rates go up.

treaclesoda Tue 29-Jul-14 08:38:40

I live in a very cheap part of the UK and even here the prices are out of proportion with earnings. I really feel for people in the expensive areas, and 'just move somewhere cheaper' or 'just work harder and earn more money, make a few sacrifices' ignores the root of the problem.

flappityfanjos Tue 29-Jul-14 08:44:41

We actually did flee the south east for this reason. Now we just have to clear the debt that came to this marriage with DH, and save up a deposit... It's still going to take us years. I miss my family and my old home all the bloody time still.

My grandad came from the north as a working class kid on a scholarship to university, ended up in the RAF and settled in the Home Counties. My parents had bought a house in the same town before the age of 25, both working low-ish paid admin jobs, then bought somewhere bigger when Mum was a SAHM. Now me and DH can't afford to RENT in the same area, much less save up a deposit at the same time, and he's a reasonably well-paid engineer.

Most of the people I know who've bought houses have had lump sums given them from family. We don't have that. I just want to give DD that sense of stability, that home is home, that she can pick what colour to decorate her bedroom and no one but me is going to bollock her for drawing on the walls. sad

atticusclaw Tue 29-Jul-14 08:46:37

We were lucky, getting on the property ladder 20 years ago. I worry about our children who will struggle to ever do it unless we downsize and use our equity to help them out (Oh hang on we'll need that to live on since pensions are so rubbish)

pictish Tue 29-Jul-14 08:49:51

But there are people out there who won't be happy until London is a super-rich ghetto, with all their teachers, nurses, cleaners and bloody baristas bussed in from 50 miles away at the crack of dawn every day...

God I know. I don't live in London, but Edinburgh way, and we have the same problem on a lesser scale. In order to be able to afford a modest three bedroomed house with back garden, we had to move out of Edinburgh and to a nearby town instead.
And hey - I'm not complaining - we are damned lucky to have what we do.

I find it shocking however, that ordinary working families can't afford to get their foot on a rung of the housing ladder, and are forced to rent miles away from where they grew up and their friends and family, because costs have spiralled so very out of control!

The above statement about bussing your nurses and teachers in to London at the crack of dawn rings true.
It's a very sad state of affairs. All wrong. Deeply wrong.

Baddderz Tue 29-Jul-14 08:50:26

2 houses the same as mine have gone up for sale in the past month.
In fact ours has more living space as the previous owners converted the garage into a second sitting room and downstairs wc.
We bought 2.5 years ago for £170k
These houses have gone on sale at £230/240k
Madness.
Utter madness.

Quax Tue 29-Jul-14 08:52:49

NameChange I live in the SE because my family and friends/support network live here. In the past couple of years we've had to resort to their generosity or use food banks. If we moved away we'd have no-one to help with school holidays/sickness/dinners when we can't stretch to the end of the month.

If I could move out of the SE, and take DS away from his friends, I would do it in a heartbeat, but only if we would genuinely be better off. I'm a HA tenant so I'd either have to find a sap or rent privately. Swaps are hard to come by and no private landlord would take us on without a guaranteed income which I can't give if we're having to look for new jobs.

As for working 2 x full-time cleaning for £20k per annum, you've got to be joking. Cleaning is really hard work and it's just not possible to do it full time - you'd kill yourself. Logistically, you'd never find the hours anyway.

Believe me I am doing everything I can to increase our income but it's disheartening to see us going nowhere. I feel like just giving up and going on benefits. We'd be no worse off and frankly I couldn't give a shit what people might say about us.

Baddderz Tue 29-Jul-14 08:54:06

I think what happened is that people stopped seeing a house as a home and started to talk about "property" and made buying houses a money making venture.
I can't imagine what will happen when interest rates rise...sad

atticusclaw Tue 29-Jul-14 08:56:36

When interest rates rise lots of people are going to have problems. I know some people don't have the ability to overpay on their mortgages but there are many who have been buying new cars etc rather than paying down the debt whilst rates are low.

CalamitouslyWrong Tue 29-Jul-14 08:58:13

My BIL bought a one bedroom flat (in a non-London property hotspot) for £180k a year ago. Apparently flats the same size on his street are now selling for £250k. It's ridiculous. That's more than our 4 bed semi in a really nice area up north is worth. It's just ridiculous.

Baddderz Tue 29-Jul-14 09:00:00

Articus...
My sis and bil have huge mortgage (I'm talking £290k...) and it's IO.
They bought at the height of the market (2006) They would be lucky to get £225k for it now.
My bil earns stupid money but they are just as you describe...new cars every few months (no I'm not exaggerating!) and holidays 6 x a year...

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