[Mike]

What does everyone think on house prices these days? have the prices just become so expensive compared with say 10 years ago? also how are most of the youngsters going to afford a decent house when they get families of their own? you will have to have a pretty high paid job or at best rent a place which is nothing like your 'own' home.

[BigSister]

yes i agree with you mike i mean my house which isnt nothing special but thats about 100 thousand and im just worried how im going to afford to buy an house on my own

[Sasha]

Its a bloody joke...... 4 times your salary? You have to be on at least £75,000 a year to get a house in London.

The only way to do it is self certify, buy two and rent one out to pay the difference on the other

[andybigbro]

i think its rediculous by the time i need to buy a house it will be soo dear its astonishing

[ttw]

I live rent-free in a cardboard box, it gets cold, especially around this time of year, but it has a great view and is in a good area so I really cannot complain!

P.S I really recommend it...

[Siouxsie]

Im really glad I am not a first time buyer. The prices they are asking these days is scandlous. My first cottage cost £7,500 many years ago so i only had a deposit of £750 to pay. I am in my third House and glad to say will not be moving again.I wouldnt like to think how much deposit i would need now to purchase the property i own now. All i can say is good luck to anyone who is heading towards the property ladder for the first time.

[Sunny_01]

It is a real worry for those young people who are just starting out, they are simply being priced out of owning their own home.

I am 35 and luckily bought my house a number of years ago, before the huge rise in prices, I have a lovely 3 bed semi that would sell for in excess of £125,000 which is a huge amount when you think I only paid £18,000 for it!! when I am 45 years old I will be mortgage free yay but I just cant see my kids ever being in that position if prices continue to rise.

My eldest daughter is having a baby in July and her and her partner can only afford to rent. Starting out in a rental will mean they dont have the spare cash to save for a deposit for a house, its a viscious circle really. I am even considering taking out a mortgage and renting on a to buy basis to them, to help them out. That means though that my long term plans of financial security take a hit.

[BB-Rocks]

My family just mvoed house last year - into new houses that were built and when my mum and dad told me how much it was i couldnt belive it. I dont think its worth the price you need to pay for a house and im worried when im older and im go and get house how much they will be then!

[Siouxsie]

yes ou young kids dont stand a chance on the propertyl adder

[MarkWaldorf]

Looking at this thread it seems a joke. I still have a few years left until I move out, but it's gonna be tuff because I can only see it rising.

[J.C.]

Its a nightmare until you actually get on the property ladder,and I know, as it took me years.
It has mostly been caused by a surge in wealth during the eighties when many bought second properties,and the ability to buy back from the council.Its now being made worse by the opening of European borders. May I give a tip that I learned from my young neighbours. Buy during a slight lull or decline in the market,and pool together with 1 or even 2 other like minded friends.Within about 5-6 years you can sell and each have a proper deposit to put down on your own place.Basically, don`t take the easy option of renting through your twenties.You don`t have to worry about moving about or travelling as many young do,because you have an arrangement with your co owners to rent out to someone of their choice whilst you are away.

Say you are 18 now and a three bed costs £150,000- £200,000
Thats a total mortgage cost of about £900- £1,300 Per month assuming no deposit is put down.
3 of you would only pay £300-£400 Per month each. I say only because most of you would be earning atleast £1000 per month after tax.

(Remember too that you would otherwise be paying about £300pm rent
with nothing to show for it)

They say as a guide that values double in seven years which would give each of you about £70,000 to reinvest in your own home.


If you were to leave it until you are thirty+ ,a time when you would be far less inclined to buy with 1 or 2 friends ,unless married ofcourse, how on earth do you raise about £3000 per month on your own !!

So, I say the best policy is don`t delay, do it today !!!