Housing prices!

[Lily27]

Trying to understand how young people can afford such pricey houses! I have a really good job (household income £100000+) but cannot afford a 3 bed house in the part of London where I live. I'm a tenant having to move out due to sale of this property, and so many young buyers are putting in offers (those with 1 baby, presumably no.2 on the way). And they are discussing extending the place which means even more money. Is this all family money? It's such a social divide - I have to move miles away to a new neighbourhood. feeling 😔
Don't know how this situation will ever resolve - we live in such an unequal society.

I think you are looking at it back to front. What can you afford, a 2 bedroom place, another area etc etc.?
Just because you rent in an area it doesn’t mean you have to buy in that area. Many people move to the suburbs or to another cheaper area. Few people buy their ideal home as their first purchase, that’s why it’s called a ladder.

Most people can't afford to buy a house in London, it isn't really a young person thing, it's a London thing.

With your income you could get amazing properties elsewhere

Anecdotal but a lot of people in my part of London have had their first property, generally apartments, sky rocket in value if they bought them in the last ten years. They then have lots of equity.