Taking possession of something you own.

Sponsored Links
A quick bit of Googling shows that a first home for many in the 1960s was a bog standard 3 bed semi, which cost about 2.5 times annual salary. The same type of house now costs about 7 times annual salary.
 
Sponsored Links
A quick bit of Googling shows that a first home for many in the 1960s was a bog standard 3 bed semi, which cost about 2.5 times annual salary. The same type of house now costs about 7 times annual salary.
Depends where you live.
Average salary in Scotland ~£28k
The 3 bed I mentioned, £135k
4.8x average salary.

Yes more than 2.5 but not as high as 7.

I'm still waiting on someone telling me what kind of (fair to all) scheme should be brought into law to ensure property price increases are capped, and also the sales price.
 
I am 100% confident that everyone in this thread would not want to benefit from an increase in property value.

'Hello, is that Mr Noseall? It's the estate agent here. We now have the valuation on your property. You know, the property your parents bought in 1976 for £10k. It's been valued at £320k so we suggest putting it on the market for £310k with a view to achieving £300k. Is that ok with you?'

'Absolutely not!!! It's abhorrent and immoral how much the property has gone up in value. Please put it on the market for £150k and not a penny more my good lady!'

Yes, that's what you'd all do, isn't it ;)
 
Deary deary me, you don't half show your ignorance around all this with comments like that.
Are you saying 20% is not a standard down-payment these days?
Are you saying in the pre-2008 days, you couldn't get 105% mortgages?
Ignorant my arse.
 
I am 100% confident that everyone in this thread would not want to benefit from an increase in property value.

'Hello, is that Mr Noseall? It's the estate agent here. We now have the valuation on your property. You know, the property your parents bought in 1976 for £10k. It's been valued at £320k so we suggest putting it on the market for £310k with a view to achieving £300k. Is that ok with you?'

'Absolutely not!!! It's abhorrent and immoral how much the property has gone up in value. Please put it on the market for £150k and not a penny more my good lady!'

Yes, that's what you'd all do, isn't it ;)
Yep price crash is deffo what's needed.
 
Depends where you live.
Average salary in Scotland ~£28k
The 3 bed I mentioned, £135k
4.8x average salary.

Yes more than 2.5 but not as high as 7.

I'm still waiting on someone telling me what kind of (fair to all) scheme should be brought into law to ensure property price increases are capped, and also the sales price.

Replenish the social housing stock, for starters.
This has been posted umpteen times on here before, across any number of threads.

Just because you disagree with the answer , doesn't make it disappear.
 
If you are using the average salary at least use the average house price. At around £200k with £28k salary that is a ratio of over 7.
I don't have to thanks.

The property I'm referring to, a perfectly nice 3 bed in a decent area is on at £135k.

The average salary in Scotland is £28k.

So that specific property for someone on an average salary can be had for 4.8x ;)
 
Sponsored Links
Back
Top