To feel fed up at the housing market

[Tigger03]

Do any younger Mumsnetters feel they’ve completely missed the boat on property, and not by much?

I’m very fortunate I’ve been able to get on the property ladder with a starter flat, but I don’t see how I’m ever going to afford a family home in the area I’m from. Since 2010 family houses have gone up in price by about £200k and wages have not changed at all! Does anyone have any advice on how they made the jump up? It just feels so difficult.

Your flat will go up in value, and as you pay the mortgage that will increase your capital.

Then you and your partners salaries will increase to increase the amount you can borrow.

You need to go up the ladder, you don't go from flat to family home.

I did flat on my own, 2 bed with my partner, then finally bought our final family home.

Same. When i bought my first starter home several years ago i saw some beaut bigger houses out of my price range now they are in my price range they are around 60k more. So out of my price range again
I suppose this is the property market though always has been. Kids now will have no chance.

I think I just feel hard done by due to the fact if I was a few years older, I’d have the same salary but the houses I want would be much much cheaper. Appreciate interest rates are lower, but it seems terrifying to lock into a 30 year mortgage for such a high amount.

I worry lots for future generations ( any rise they pay for). House prices rising more than wage inflation helps no one other than banks, government ( stamp duty / inheritance tax), house renovators, downsizers/ those who bought earlier.

I felt like this till our 30s when we finally manged to match up work and cheaper housing area and had enough savings for deposit

Our first was a family sized house – as we already had children – despite this many family members were annoyed we weren’t buying flats or 2/2 down and then later trading up. I didn't think we'd have time before we outgrew those places.

It needed work and depleted savings with more worked needed than initially thought and everything costing more than anticipating.

We’ve moved areas since then – to another cheap area and manage to upgrade to 4 bed – but in the five years prices have gone up so much we’d be struggling to get 3 bed in the same area now.

I've no idea how our children will manage to get on ladder and hope in future when we move again for work which may be to a more expensive area we can downsize to afford it.

I'm in my 60's as are most of my friends and we are all in ordinary average pay type jobs . Generally what has happened is that we have helped our children with a hefty deposit.
The money has come from our savings that we made after paying off our own mortgages or from inheritance from our parents.

I’m not sure I agree with moving up the ladder, I think before when house prices would rise significantly it did help to do this.
House prices don’t rise like that now. A lot of my friends and me rented and saved for longer to buy a ‘family home’, I couldn’t justify buying somewhere to then move in a few years with stamp duty, solicitors and moving costs it doesn’t seem worth it
Just my view and perhaps the area I’m in but house prices haven’t risen that much in the last 5 years

I think this is an eternal problem.

I moved out of London to the North to be able to buy my first home. That was 1996.

Married and we bought in London. Two children later we made the decision to move out and beyond the commuter belt I order to afford a family home and a family life. That was in 2002.

Outside of London I don't think its that difficult to get on the ladder provided you've got parents willing to keep you while you save! That's what happened with me and most of my friends.