Why do house price keep rising

Well good for them!
The article I posted upthread said “around half of first time buyers” wrt receiving financial help, so maybe they’re in the other half! And/or you live in a cheaper area?

In most of the country prices are dropping in real terms. They haven’t risen for a while.

Well they all freely discuss their saving strategies over the years to be able to afford them so I’m guessing no major gifts. I know they have been helped with things like a dining table or a sofa, for example but most people can cobble some furniture together anyway, even if it’s second hand.
I have to say I’ve been impressed with how well they can save and all the strategies they come up with for that. Makes me feel pretty lavish 🤣 (and old!)

Not necessarily. I’m late 30s, and most people I know bought somewhere between their late 20s and mid 30s. It’s mainly London, and certain areas of the SE, where younger people are priced out.

I’m in the north and you can easily get a 3 bed in a nice area for somewhere between 200-300k. That’s affordable for most people on a slightly above average salary. Even on an average salary you could probably get a flat.

The other way is staying at home for a long time paying low dig money, while saving like mad.

Are you certain they have had absolutely no gifted money whatsoever.
I haven’t exactly bandied around the information that the inheritance from my grandma that my parents gifted me to buy a flat 15 years ago helped enormously towards my deposit…! Especially to work colleagues!

Mystery to me. Two have sold sstc on my street in the last few weeks.

I work with a lot of young people who are first time buyers. None of them are from inheritance. They saved for a deposit then took on a huge mortgage. I don’t envy them at all to have such big mortgages but they all seem to manage just fine.

Don’t forget the 35 year mortgages and lifetime mortgages passed down to children.

The multimillionaires buying up property that is never lived in as an asset making money.

People buying more than one property as a retirement savings as they go up more than investments.

And as the younger generation are now at home with mom and dat till their 30’s they can’t afford children- so immigration is needed -

The situation is so sad… so much for government looking after it own people.

There are 0% deposit mortgages now. There are still parts of the country where you can buy a terrace sub £100k. You don’t actually really need a lot of money to buy- just have been savvy enough to have a reasonable credit score.

Who are all these single people who can afford to buy homes?

older ones who got on the ladder years ago!

Exactly. It's the ripple effect of international investment driven demand.

Has to be massive debt
Inheritance
Or businesses

London’s house prices and proximity of London has been a major problem for the rest of the country. It’s not just the British population causing demand, after Blair’s financial deregulations and the cozying up to Russian and drug money. Of course Blair’s buy to let did not help either. Anything went as long as it had money. London is now the money laundering capital of the world. In other areas, drug money is often blamed. You certainly cannot earn enough to buy properties costing millions.

I’ve just sold my place to a FTB who is being gifted money to purchase - I started off buying a flat in 2004 and was able to do so on a 100 percent mortgage- anyone remember those?

Absolutely! I totally agree

Me, and DP, both own our own houses. Outside the SE it’s pretty common. I know loads of single people who bought on their own.

What's with the wonky face? The London property market is globally recognised as an important centre for money laundering. That pushes prices up. Difficult to argue that it's due to scarcity in eg the City, a place where one in three dwellings are empty. If you spend decades, as the Corporation has, approving planning permission for multiple cathedrals to bent money, your primary problem is the bent money, not some mythical undersupply.

Back ‘even’ in 2023? I think it goes back a lot further than that. When house prices first quadrupled in just a few years back in 2000- 2005 while wages did not move, the only people I knew who were buying all had help from mummy and daddy, and screw those of us who didn’t have that and just had to work for nothing.

it not individual people in general, it’s a few giant companies who buy to rent

Who are all these single people who can afford to buy homes?

Because people obviously can afford it. Inheritance and bank of mum and dad would be my guess. A very high proportion of older people own property, so that money is being passed down to someone…

They aren't rising in many places.

They are falling slightly in some, but it's more typical for the market prices to just stall and flat line now because they've reached the highest multipliers will reasonaby accommodation compared to wages.

It’s harder to afford to buy a house these days (and really challenging if you are single) but its fairly easy to see how people find the money - by way of example my daughter, a newly qualified teacher had been planning on buying with her boyfriend when he completed his teacher training. They would have been able to get a joint mortgage of around £245,00 and they were on their way to saving a decent deposit. That would have got them a nice 3 bedroom house in Devon. There are lots of couples with joint salaries of around £70,000. In most areas (not London) this will get you on the housing ladder.

Have a read of Follow the Money by Paul Johnson. A lot of this is clearly set out in that book.
Moreover, a quick google suggests that back in even 2023, around half of first time buyers received financial help. You can read about that here: https://ifs.org.uk/news/around-half-first-time-buyers-their-20s-receive-financial-help-buy-their-home-large

so no, unfortunately I am not making things up. HTH