' A chicken would cost £50'

[stopitandtidyupp]

Leisurely watching ' The big questions'
discussing is London only for the rich?

One woman said if house prices were a chicken then a chicken would now cost £50. Now she meant in London but I wonder about the rest of the country.

I live in the NE and I am struggling to get on the ladder.

I guess my AIBU to be annoyed at house prices and is there an answer?

Look on rightmove at chester le street, lemmington, High Heaton, which are all perfectly reasonable places to live, and you’ll be able to find 2/3 bedroom houses for around 100k or even less that would be a great starter home.

I would not want to move my dd from her school to live in those areas and I rely in my parents for childcare.
Not saying it's not possible though because it is possible just a lot harder.

The just move is too simplistic.

Yes it is more difficult to buy a house now than it was 15 years ago.
But not it’s not an unobtainable goal for people on an average salary in the north east.

So your problem is that you need a home in a very specific area.

these days but people appear to have different priorities, ie a fancy wedding, 2 or 3 children, holidays overseas, etc and then when the woman becomes a SAHM, it becomes almost impossible

But this is not the reason that it's more difficult to buy a house. The reason is that average house prices have risen significantly faster than the average income.

But not it’s not an unobtainable goal for people on an average salary in the north east

I don't think anyone said it is.

I realise I'm coming across as judgemental and holier than thou

Honestly, I would hire you as a life coach.

So you had a 30K deposit while earning £17K?

How long did it take you to save that? Because I can't see someone round here saving that in less than a decade.

I bought a 1 bed house for 35k in 1993

I was earning 12k

I had a 5 k deposit saved over 5 years.

Compare to now

Same house 150k

Average earning 18-24k

Deposit 15k

That’s just a 1 bed starter home.
What if you need more bedrooms?

So your problem is that you need a home in a very specific area.

For me personally yes still a lot cheaper than most areas. I need a 5-10k deposit though which I appreciate is a lot cheaper than what I would need in SE.

I have owned before in the past, it was easier then than now and its not getting any easier.

DH and I saved for our deposit in under 2 years. We moved into his house which was in a horrible area. He continued to pay all the bills as he had before we met, and I paid the same amount £ for £ into a joint savings account. We saved 15k that way.

This is an interesting link
You can put in what you earn and how much deposit you could afford to save and it shows where in the country you’d be able to buy a house.

www.bbc.co.uk/news/business-23234033

I have owned before in the past, it was easier then than now and its not getting any easier.

I can understand you getting disheartened and frustrated

You are in a far better position than most people in the country though.

There’s no way I could afford my home if it was somewhere else in the country.

But that thing of "you can put in what you earn" - well, you won't be earning that when you move to an area of the country where the wages are lower to what you earn now. You will be earning whatever the wage is in the job you get in that place.

I can understand you getting disheartened and frustrated 

You are in a far better position than most people in the country though.

There’s no way I could afford my home if it was somewhere else in the country.

Thank you. Totally agree with that. That is one if the reasons I moved back home from Reading. At least even if it takes several years I will do it. I feel bad for my Reading friends.

But that thing of "you can put in what you earn" - well, you won't be earning that when you move to an area of the country where the wages are lower to what you earn now. You will be earning whatever the wage is in the job you get in that place.

I was just showing that to the OP who already lives in the north east, I’m not suggesting people move.

But there are normal paying jobs in cities in the north you know, Newcastle and Sunderland have booming tech industries and we still need recruitment consultants, lawyers, teachers, drs, train drivers, administrators, accountants, and all the other jobs too.

Calvin well that's not true. It asks how much you can afford to pay out monthly on your mortgage, not how much you can afford to put away monthly for a deposit

No but it asks you how much of a deposit you have, so surely you can work that out yourself.

I wouldn’t suggest to people to move to the north east but the OP already lives there.

I was just wondering how come she can’t afford to buy in the north east when their are some very affordable houses up here, it turns out that she needs to live in a specific area of the north east, and that she WILL be able to buy but it’ll take her a while to save up, but it’s not actually completely out of reach for her.

Carroty I hugely admire your persistence and patience, but I fear you’re pissing in the wind as some posters seem determined to ignore the basic fact you are reiterating.

Carroty I hugely admire your persistence and patience, but I fear you’re pissing in the wind as some posters seem determined to ignore the basic fact you are reiterating

Caroty has some great points.

I'm 22 and we managed to get a mortgage, living in South West and pretty rural so prices are lower by far than London.
We bought a 2 bed semi detached for £140k. But we did have 18k deposit so our mortgage repayments are lower than what renting a house would be!

House prices are absolutely ridiculous, yes. Wages are also ridiculous. And deposits are ridiculous. I don't know how anyone can do it, I don't even know how we managed, saving in a helonto buy ISA was probably the best thing we done.

We will not be able to buy for at least 10 years.

We live in the south east, our rent is extortionate and the living wage does not match it. 24k a year barely means we make it by with rent being £1100 for a 2 bed.

I know a few people who have bought home and none of them without financial help from parents.

I do know someone who brags about buying their home at 25 with no financial help but don’t mention that they lived at home for 7 years working and saving having to pay nothing towards rent or bills.

this site tells you what you can afford where

www.bbc.co.uk/news/business-23234033

if you have 12k deposit and can afford 550 per month (90k mortgage) this will let you buy a 2 bed house or flat in 29% of UK, if you only need 1 bed you can buy in 55% of uk

a 15000 deposit and 650 per month and you can get 2 beds in 43% of the UK

a 20 K deposit and £125k mortgage would buy a 2 bed house in 61% of the UK, if you only need 1 bed it is 82% of UK

it does depend where you are the further north you are the easier it is
in our village which is nice ex council houses with 3 beds and garden are about 80K so probably 4 times average income which is lower than elsewhere in UK so this affordably to most working families

Our only option to buy really is to move a significant way away because until you get around 2 hours a way it’s the same price.

However we can’t as I have a SEN child and we rely on family to help. As well we the support in our area for SEN is amazing