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Has the world gone mad

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By (user no longer on site) OP   
over a year ago

I just saw on the news that the average deposit required to buy a house will be 100 000 pounds when did a bit of timber and a few bricks get so expensive and they wanna cut benefits for poor people what the f**k is going on

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By *ransylvesterTV/TS
over a year ago

Close enough for fun!

Its only Britain that has an obsession in buying property, In much of Europe renting is much more common.

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By (user no longer on site) OP   
over a year ago


"I just saw on the news that the average deposit required to buy a house will be 100 000 pounds when did a bit of timber and a few bricks get so expensive and they wanna cut benefits for poor people what the f**k is going on "

Sorry that's 100 000 by 2020

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By *ngel n tedCouple
over a year ago

maidstone

Yes it has

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By *iamondsmiles.Woman
over a year ago

little house on the praire

When we where kids hardly anyone owned their own houses

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By *nvictusMan
over a year ago

Beeston

I've been mad for years. Does this mean I'm cutting edge now?

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By (user no longer on site)
over a year ago


"Its only Britain that has an obsession in buying property, In much of Europe renting is much more common."

Both rents and property are much lower on the continent.

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By *coobyroo218Couple
over a year ago

Guernsey

Average price of of a 3 bed semi with no garage and parking for a couple of cars here in Guernsey is £465,000

Thats average mind

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By *mumaWoman
over a year ago

Livingston


"I've been mad for years. Does this mean I'm cutting edge now? "

no, just glittery!!!

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By (user no longer on site)
over a year ago

Yeah, it's pretty much a zombie apocalypse of mad people these days. Don't worry though OP, you're still sane. Just you.

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By (user no longer on site) OP   
over a year ago


"Average price of of a 3 bed semi with no garage and parking for a couple of cars here in Guernsey is £465,000

Thats average mind"

Forgive me if I am wrong but I believe the channel islands is some kind of tax haven for the rich

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound

The average salary to buy a shared equity flat in London is now £46k. That's the affordable property. It is bonkers.

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By (user no longer on site)
over a year ago

Hello JCMB,

"Sorry that's 100 000 by 2020"

That sounds like an overly high estimate or else they know something that we don't and house prices are going to rocket over the next seven years?

I would expect the percentage deposit to reduce slowly as the money to lend for mortgages increases in availability. That is the key to expanding the housing market, not relaxing planning laws etc.

Alec

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By (user no longer on site) OP   
over a year ago

It's from a reliable source don't forget inflation too I think yours is a fairly optimistic look at things

I presume you are already a home owner so happy days for you

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By *ouple in LancashireCouple
over a year ago

in Lancashire


"Average price of of a 3 bed semi with no garage and parking for a couple of cars here in Guernsey is £465,000

Thats average mind

Forgive me if I am wrong but I believe the channel islands is some kind of tax haven for the rich"

not all who live there will be..

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By *atisfy janeWoman
over a year ago

Torquay

Unless average house prices are expected to grow unexpectantly by 2020 I can't see how or why average mortgage deposits will grow so dramatically to be honest....

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By (user no longer on site) OP   
over a year ago


"Unless average house prices are expected to grow unexpectantly by 2020 I can't see how or why average mortgage deposits will grow so dramatically to be honest....

"

Nowadays to price of the house does not seem to be linked to your deposit

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By (user no longer on site)
over a year ago

I know I have.

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By *atisfy janeWoman
over a year ago

Torquay


"Unless average house prices are expected to grow unexpectantly by 2020 I can't see how or why average mortgage deposits will grow so dramatically to be honest....

Nowadays to price of the house does not seem to be linked to your deposit "

I beg to differ, all that has changed is the percentage because of the over lending by banks in the last few years, 12-15% is now the average deposit as opposed to the industry standard 5% of Five years ago.

In order to see a £100k deposit required average house prices would have to be massively inflated by 2020 (unlikely) or deposits percentages risen to such an extent that first time buyerswill all but dissapear.

Sounds like a scare story on the news to me....lazy journalism

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By *iss_tressWoman
over a year ago

London


"The average salary to buy a shared equity flat in London is now £46k. That's the affordable property. It is bonkers.

"

My friend was told she needed £55k for a shared ownership house in East Dulwich. I told her she'd heard wrong!

I remember when it was £15k for a couple!

If you're on £55k and can't afford a shared ownership house something is seriously wrong!

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By *icketysplitsWoman
over a year ago

Way over Yonder, that's where I'm bound


"The average salary to buy a shared equity flat in London is now £46k. That's the affordable property. It is bonkers.

My friend was told she needed £55k for a shared ownership house in East Dulwich. I told her she'd heard wrong!

I remember when it was £15k for a couple!

If you're on £55k and can't afford a shared ownership house something is seriously wrong! "

I have heard higher than £55k in one case. It is rather scary that £55k is an annual salary required for part equity. The rent on the other half still has to be paid as well.

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By *coobyroo218Couple
over a year ago

Guernsey


"Average price of of a 3 bed semi with no garage and parking for a couple of cars here in Guernsey is £465,000

Thats average mind

Forgive me if I am wrong but I believe the channel islands is some kind of tax haven for the rich"

Not a tax haven at all wish it was for all that live here but alas us locals are far from rich having to get mortgages which are four, five or even six times joint salary to get a two up two down!

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By (user no longer on site)
over a year ago

You can buy a house for £20K up here!

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By (user no longer on site)
over a year ago

You are bound to pay a premium price if you want to live in any capital city of the world.

That's the way it is, deal with it.

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By *ickiemintMan
over a year ago

Somewhere NW London


"I just saw on the news that the average deposit required to buy a house will be 100 000 pounds when did a bit of timber and a few bricks get so expensive and they wanna cut benefits for poor people what the f**k is going on "

Thieving scheming manipulative government, and the crooked greedy banking system that they have encouraged. Thats whats the root cause is. Rich

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By (user no longer on site)
over a year ago


"I just saw on the news that the average deposit required to buy a house will be 100 000 pounds when did a bit of timber and a few bricks get so expensive and they wanna cut benefits for poor people what the f**k is going on

Thieving scheming manipulative government, and the crooked greedy banking system that they have encouraged. Thats whats the root cause is. Rich "

Well there were plenty of people willing to take loans to pay inflated prices for homes bigger than they really needed, new sofas they didn't really need, kitchens they didn't really need ........... need I go on

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By (user no longer on site)
over a year ago

Reading this i note lots of people correctly say that in Europe and the USA most people rent, but who owns the houses that are up for rent???

Also 100k deposit? Even if the banks wanted 25% deposit, that means the average house price will be 400k?? Dont believe that, as house prices have been on the decline for 3 years. If what the OP is saying is true, buy as many houses as you can and make a killing!

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By (user no longer on site)
over a year ago


"Reading this i note lots of people correctly say that in Europe and the USA most people rent, but who owns the houses that are up for rent???

Also 100k deposit? Even if the banks wanted 25% deposit, that means the average house price will be 400k?? Dont believe that, as house prices have been on the decline for 3 years. If what the OP is saying is true, buy as many houses as you can and make a killing! "

and if everyone does it house prices will rise.

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By (user no longer on site)
over a year ago


"Reading this i note lots of people correctly say that in Europe and the USA most people rent, but who owns the houses that are up for rent???

! "

Dick Cheney?

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By *tressfreeMan
over a year ago

Northampton


"You can buy a house for £20K up here!"
but I assume work is scarce?

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By *tressfreeMan
over a year ago

Northampton

[Removed by poster at 03/03/13 00:47:58]

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