To wonder how anyone affords to move house?

Yes, it really is shocking, especially when you see practically every country in the OECD spends so much less as both a % of income and of total spending.

https://news.sky.com/story/uk-spends-more-on-housing-than-almost-any-other-developed-country-and-gets-the-least-value-from-it-too-13099925

Labour's plans for house building should significantly increase supply and increase mobility, but it looks like being almost all private building. Unless they implement a programme of significant council owned house building, the impact on prices won't be enough to actually impact the housing crisis.

Those at the bottom will still be trapped in paying high rents and those that can't will still be in temporary accommodation.

• Earning more (this is the main one, I imagine)
• Adding a lot to their equity either via inheritance or windfall or saving very hard/living frugally so they have a bigger deposit for the next place
• Not having children/nursery to pay for (ties into the point above I suppose)
• Cheaper area (mortgage on my no-work-needed 3 bed is nowhere near £1k a month and wouldn't be even with a 95% mortgage. We sacrifice certain things living here, i.e. the cultural capital of a bigger city or posher area, but where we live is a nice part of a generally very cheap area)

People have struggled to move as much in the last couple of years as interest rates were much higher, so there's also the fact that you're right - it is harder to move into a bigger house at the moment. But plenty of people are still moving, through some combination of the above factors.

Interest rates are historically low, and have been for years
17 % way back, remember that

A mortgage payment that is over £1,000 presumably? Not difficult to understand, unless you’re being purposefully obtuse which isn’t helpful to anyone.

Fab. Couldn't see that when I scanned her posts. It's an odd phraseology but makes more sense why she feels hard-done by.

The OP has said multiple times that she means her monthly mortgage repayments are 4 figures, ie over £1000.

Has the issue of what a "four figure mortgage" been resolved yet?

Enquiring minds want to know ...

A 30 year mortgage in your 20s isn't ridiculous at all.

Monthly mortgage payments above £1,000 is totally normal to me? And why are you worrying about moving when you have a 3 bed house? We have lived for years in a 3 bed house with 2 kids. You’re very young to own a house, I don’t know anyone that has bought a house til their 30s.

I completely agree with you @towonderwander. It is absolutely ridiculous that you are struggling so much as a couple working full time and earning an average wage. As you will have seen from a lot of responses to your post, there is a race to the bottom in this country. If you complain or expect your wages to go further, you’re inevitably told that there are lots of people worse off than you and you should be grateful for what you have. The government doesn’t need to respond to your genuine questions when the majority of the electorate will tell you that you should be so grateful to have a home in the first place. If you and your DP are good at your jobs you should expect pay rises as you progress through your careers. You will then find that the tax system disproportionately penalises middle and high earners. You will also lose out on tax breaks such as child benefit. Your question then will inevitably be “how come I am still struggling when I earn so much money? Why do we have to choose between a nice house and a holiday when our joint income exceeds £100k?” And as sure as the sun rises in the east and night follows day, you will be met with a chorus of “you make me sick / you’re so privileged / how dare you complain when there are people using food banks”. Like I said, a race to the bottom.

In a word: yes! It’s a housing crisis and doesn’t bode well for the future or equality within the Uk. I would say you are lucky to own a home with an average salary. It’s depressing!

They fall under need test of need as well. Immigrants don't get priority automatically just for being immigrants.
If yes, I've been well cheated! Same like that free housea we apparently get🙄 still waiting for my free housing

You are doing really well mid 20s to own a house so you are ahead of your peers. I think the average ftb these days is something like 30 so ppl moving houses are likely to be at least mid 30s so in answer to your Q, they probably have 10 years of earning on you if they are moving house.

That's before I consider that you're also ahead of average to be having your 1st child so your finances are squeezed more than the average mid 20 something.

At 25 I was renting a room in a shared house and was financing myself only, not having to worry about childcare bills.So I'd say you are doing really well just to be able to get on the ladder. The affordability to move house will come with time as you pay down your mortgage , progress in your careers, build equity etc.

Paying a mortgage of £1000+ per month is pretty normal now, so it's a bit unreasonable to be surprised by that. YANBU to highlight the increasing difficulty of moving now though.

When I was in my 20s, it was normal for people to buy a shit studio/one bedroom as their first home, live in it a few years, then sell it in order to get a 2 bedroom, live in it for a while, sell it to get a flat with a garden or a house etc. But I think that sort of ladder approach doesn't really work anymore, as the increase in property prices (and tightening up of banks and brokers on the availability of mortgages) hasn't kept pace with salaries, which have stagnated or, in many cases, gotten worse.

I didn't have the money to buy in my 20s and when I finally did, I had a finite window in which I should have sold to move up to the next step on the ladder, but I missed the chance through poor choices. Now I'm stuck in the same property.

I think as you are 'up north' and in a cheaper town you are in a lucky position to be able to do so- I'm originally from a midlands mining town and had a 3 bed semi by the time I was19 back in the early 80s! My son in his late 30s and still in that area has a beautiful 'done up' 3 bed semi in a good area bought for £185,000 - hence you will see couples around you with average paid jobs with nice homes probably from mid 20s onwards- they just take on bigger mortgages , use a bit of equity to pay stamp duty , often buy 'done up' places still at modest cost or new builds etc- in some parts of the country none of this is remotely possible at all without big family help, inheritances or very high earning jobs- and I don't just mean London- so count your lucky stars , finish off making it a palace, and look at the situation again in 4 or 5 years- even 2 young kids in same bedroom won't hurt them!!

@towonderwander thanks for clarifying - I apologise if I was harsh - I thought from your post you were hoping to move.

Having bought so young, you have plenty of time to build up equity in your house. Childcare costs will come down over time. These are just the expensive years. We’ve done the same as you just 10 years later and as we saved for 10 years before we bought and have had pay rises over the years have bought a house that whilst definitely not cosmetically perfect we can stay in for the next at least 10-15 years then reassess.

As I’ve said elsewhere I grew up in a 3 bed house with a family of 6 until early teen years and only have fond memories of my childhood. Your kids whilst little won’t have an issue with sharing or care what their house looks like.

Again enjoy baby

I do wonder though with high rents and high house prices we are reaching point when it massively impacts rest of economy - budgets focus on housing meaning discretionary spending rapidly declines impacting jobs and turn over.

Though seen people in USA say similar and others point out UK and other countries have even more out of wack average earnings and house prices than them so it can clearly get worse.

Even at 25 years is £1,000 a month.

A 30 year mortgage is ridiculous given the average first time buyer is almost 34 in the UK, leaving almost no wiggle room before pension age.
But even in your scenario it would still be over £900 a month for a 30 year mortgage on an averagely accessible interest rate, and if they fixed any time during the last 2 years it’s likely to be over £1,000.

It used to be a social norm for siblings to share a bedroom and with the housing crisis as it is now, we're going to have to go back to those days

The UK in 2024. Going backwards. Even wanting a bedroom for each of your kids is an indulgent luxury only the rich can afford.

No wonder young people are disillusioned in this country.

all these threads. Aibu how do people afford car/holiday/house etc.
Different people have different earnings/outgoing/help or priorities in life. Seriously, it's getting tedious (and I am saying that as someone who cannot afford a lot). Bit isn't it bleeding obvious?

Because people have to live somewhere.

I find the comment about single earners patronising.

I'm a single earner, I need to live somewhere so I prioritise a house over a new car and lots of expensive clothes and jewellery. I live within my means. I don't need pity or faux surprise at the cost of living and questioned on how I cope.

Single earners and large families adjust their lifestyle.

I haven't rtft but I'm pretty sure the average age for buying a property and for having children is well above mid 20s....so would potentially have 10+ years more to save* and 10 more years of wage increase, or promotion opportunities

*I realise it's virtually impossible to save with some rental prices

No, they wouldn't - at least not over a 30 year period.

We have a tiny 2 bed flat but equally dh was born in a 1 bed flat where he lived until age 5 with two younger siblings (also in London).. his parents owned that flat but couldn't upsize without family help (on one income due to father losing his job in 92 recession).

Neither dh or I earn 100k individually so technically eligible for help.