Million pound houses

[thinking123]

So a house near me has gone up and sale and sold within two days. It was up for offers over 975k.

I am just so shocked. It's a perfectly nice four bedroom detached house with a nice size garden. The location is nice but not outstanding, the pics on Rightmove are very nice but again nothing amazing. It's not even in the catchment for the best school in the town.

How the hell are normal family homes selling for a million pounds. How can anyone hope to pay that sort of price.

She will be buying a flat with her boyfriend next year. Neither of us has contributed to this apart from letting her live rent free.

that's amazing help though (we did the same). Other friends who weren't Londoners didn't have the option to save up as they were paying rent.

Now look what you lot have done. I've just spent half an hour looking at random properties for sale in the surrounding villages and I've found something... It used to be a pub, the building looks like some of it is hundreds of years old with ancient beams and everything, loads of land & outbuildings, and it is in need of total refurbishment.

And it is only half a million 😂

You'd need to spend the other half million on it though

It's mad. DH and I were earning approx £14k a year each when we got married (1996) and bought our first house for £60k. For our money we got a very very small three bed semi ( third bedroom barely a useable space ) with a little garden and a garage and a tiny kitchen you could barely move in.

You would need salaries of at least £80k each now to buy that house with a 10% deposit down. The jobs we used to do back then now pay £30k p/a so have not gone up much at all compared to house prices.

I can't imagine my kids ever being able to afford to buy.

Around me a three bed family semi would be close to this. It's insane money.

Me and DH both earn fantastic wages and we can't possibly buy a normal house.

Crazy.

I live in central London and I'm not exaggerating when I say I've seen studio apartments advised for half a mil.

How the hell are normal family homes selling for a million pounds. How can anyone hope to pay that sort of price.

Simple - inheritance. As houses have increased in value, so has inheritance from grandparents and parents. It it wealth accumulated down the generations which pushes up prices.

In the future, anyone who doesn't inherit will be screwed.

I can't speak for £1m houses but we were recently looking at 500k homes locally and most on offer would have been just £350 tops just a few years ago, 3/4 bedrooms, average size gardens and semi-detached.