To think there is a serious problem with the housing market in this country

[Kitchendisco21]

I was just about to buy my first home having spent 10 years saving a deposit. Thanks to the stupid help to buy intervention, the houses I was able to buy are now 50k more expensive so I am completely priced out. I am so utterly sick of it.

And no, I can’t move elsewhere/ get somewhere smaller/eat fewer avocados! I have been saving for a decade.

Aibu to be so fed up. I read last week that 98% of keyworkers couldn’t buy a home in the uk now. When will people actually wake up & see what a major problem there is? I am so angry.

It’s incredibly frustrating

I pay more on rent that I would on a mortgage. But the bank won’t give me a mortgage without a hefty deposit as I can’t be seen as being able to support myself. Despite me paying for my landlady’s 3rd home

YANBU OP.

It’s really shitty.

We bought our first flat in 2009 for £235k when our joint earnings are £70k. Our joint earnings are now about £90k but the flat just sold for £450k

It’s ridiculous and makes me quite anxious for my children who are primary age.

I couldn’t afford the rent on a house like the one I’m paying a mortgage on. It feels utterly ridiculous.

I have done everything I can & saved my arse off for years. It makes me sick how corrupt it all is and favours those already on the ladder.

It is a nightmare. The whole thing. I bought shared ownership on my own afyer my marriage split up. Then DP surprisingly came along so we were in the weird position of being half FTB, half of a half homeowner. So we tried to buy a hoise together, came up against FTB who seem to be in really good positions to buy expensive family homes. I don't get how. So we kept losing out to 'proper' FTB. We have got a house now but it was like a military exercise and I had to play it very very canny. We offered full asking, whilst viewing, first to view, same estate agent for both houses. It shouldn't be hard...but it really is!

I agree. None of my DC's are likely to ever buy their own place and my concern is that renting will one day be beyond their ability even though they're all working.
Something needs to happen to make housing in the UK more affordable and available no matter someone's income or geography.

Where do you want to buy ?

All these threads go the same way:

Greedy landlords
Business
Shit tories
Social housing
Fucking Tatcher
Bloody immigrants
Corbyn
Avocados
Expensive cars
"In the 80s!"
"In Germany"
"Whining"
"The north"
"Bloody second homes"
"Fucking hell I can have a mansion and 17 stables for that here up north"

😁

I agree it's hard to save up enough for a deposit if you're on your own and trying to buy in an expensive area. But did you not think that the prices might go up when you started saving? 50k in 10 years doesn't sound a huge rise.

I have my own home and am not looking to move but I do check rightmove a lot (I know its a ridiculous obsession 😂). The prices in my area have skyrocketed.

I also went through years of renting (from mostly scummy landlords) in order to save a deposit and it was a very frustrating experience.

I could rant on about shitty landlords till the cows come home but won't 😂

YANBU OP. The only way we bought a house was through inheritance. Will the new HTB 5% deposits help you at all? I know that’s not just on new builds.

YADNU.
The stamp duty holiday has only made matters worse.

Schemes like Help to Buy benefit developers and building companies more than buyers. They also do nothing for the relatively common High Deposit Low Income scenario.

Agree it is ish.
I don’t understand why some places are so expensive.

Yanbu but someone will be on in a minute to tell you that houses have always been just as unaffordable as they are now

I agree..I think it should be illegal for house prices to go up.

The prices in my area have skyrocketed.

Around mine too. Gobsmacked at some. But apartments seem to have gone down in the city centre and because of lack of students, even rentals stabilised or dropped in some cases

@Racoonworld no, that’s 50k in the last year. And what you described is exactly the issue with the housing market- inability to keep up with rises. I don’t have family wealth- I saved from scratch.

Help 2 buy is terrible for everyone except builders

I disagree with the government adopting schemes to help buyers. It artificially inflates the market.

I will never be in line for an inheritance

So there is a high chance I will be renting till death

@Soubriquet

It’s incredibly frustrating

I pay more on rent that I would on a mortgage. But the bank won’t give me a mortgage without a hefty deposit as I can’t be seen as being able to support myself. Despite me paying for my landlady’s 3rd home

Yes agree

We pay a fucking fortune. It's ludicrous.

YANBU. I'm lucky, and live in a reasonably priced area so with a measly 8% deposit I was able to get on the housing market 4 years ago. My house has increased in value by 80k and I've only really painted a couple of rooms. Had I missed that opportunity, I'd have been priced out and not sure it would have happened.

I think what makes matters worse, is a rental for this house would be around £400 more than my mortgage so not only would I have had my own house, but I'd also be paying over the odds and lose the ability to save on top of it.

I don't think buying a house should be a right, but the ability to live in affordable housing absolutely should be and that's getting more difficult with every passing year.

there simply aren't enough houses to meet demand. the tories sold off all the council houses & didn't build any more.

unless house building goes up dramatically, with more council houses & genuinely affordable homes, then nothing will change.

write to your MP. complain to politicians. This is their issue to fix.

The housing crisis is in desperate need of some kind of overhaul.
So many issues that need to be addressed.

Far too many developments have been springing up that are labelled as 'Luxury 3/4/5 bedroomed detached homes'

No where near enough affordable housing being built

Too many ' get-rich-quick' landlords although I do understand that there are some landlords who have inherited a property and are looking to secure their pension.

Councils selling off as many of their properties as they could over several decades.

Women, rightly, having their salaries taken into account when applying for mortgages ( which wasn't the case years ago) which then put house prices up.

I'm sure there are many more reasons but, ultimately, we are now in a position where many people will never be able afford their own homes but will pay so much more than rents.

Something needs to be done. Urgently.

My first home was a wreck which I slowly renovated over 5 years. It was a skanky place to live and in a less than appealing area but I made a big profit on it to buy my first family home in a nice area. It's not what people want to hear but that's the only way some people can buy a house.

I do feel for people struggling to save up a deposit to buy a house though. It's not easy to get on the ladder, even in a cheaper area with less fervour in the market. You just have to do what you can because complaining about it won't change things. When people complain you get initiatives like the help to buy and shared ownership scenarios which make things even worse.