House prices

I hate to bring my personal problems into a forum, but this just gets me so depressed.

http://www.thisisoxfordshire.co.uk/m...y_boom.php?s=s

"If you want to buy an average-priced house in Oxford, you need to earn at least £78,000 a year to get a typical mortgage."

"The situation is now so bad that thousands of people are joining housing association waiting lists in the hope of part-owning a property.
One housing group which offers shared ownership schemes has waiting lists of more than 1,000 people in every council district in the county - but said they would have to wait "years, rather than months" for a home."

What am I supposed to do? The only biotech research jobs are in Oxford, Cambridge or London, and I am wasting about £10K a year on rent . I have no idea how this is going to get better without some huge house-price crash. Change career? I have been studying for this for 7 years!

Originally Posted by Warthog

I hate to bring my personal problems into a forum, but this just gets me so depressed.

http://www.thisisoxfordshire.co.uk/m...y_boom.php?s=s

"If you want to buy an average-priced house in Oxford, you need to earn at least £78,000 a year to get a typical mortgage."

"The situation is now so bad that thousands of people are joining housing association waiting lists in the hope of part-owning a property.
One housing group which offers shared ownership schemes has waiting lists of more than 1,000 people in every council district in the county - but said they would have to wait "years, rather than months" for a home."

What am I supposed to do? The only biotech research jobs are in Oxford, Cambridge or London, and I am wasting about £10K a year on rent . I have no idea how this is going to get better without some huge house-price crash. Change career? I have been studying for this for 7 years!

Its the same for me, I changed jobs as my pervious just didn't pay enough, I now have a job that like doing just as much.

I work in london, and come under the key worked thing, though just doesn't help at all. Average prices here are 4-5/6 times what I earn and my deductions are alot as well. Still paying off the student loan sigh.

There is no way I can afford to buy anywhere, I'm saving for a deposit but they want 10% of vaule of the property, its gonna take a long time to save up that amount, plus fees, plus things I would need in a house such as bed ect.

I'm lucky my rent is cheap for the location, but the house is falling apart but for the location and a garage it does for its not forever.

makes you wonder why people work in london with property prices so high, if you move from the city and take a pay drop the houses might me enuf less cost to still be as well off or better. i know a postie that lived in london and moved to the midlands whilst in london he was renting a garage with a door and a window on the front instead of a garage door, this was all he could afford on a postie wage in london.

Its got to the point where to buy a house you need 2 good wages comming in!

i think the bst option it s buy abroad, rent in the UK so when you retire you can foxtrot oscar to a better country with a bigger house and owe nothing in the UK.

Originally Posted by Warthog

I hate to bring my personal problems into a forum, but this just gets me so depressed.

http://www.thisisoxfordshire.co.uk/m...y_boom.php?s=s

"If you want to buy an average-priced house in Oxford, you need to earn at least £78,000 a year to get a typical mortgage."

"The situation is now so bad that thousands of people are joining housing association waiting lists in the hope of part-owning a property.
One housing group which offers shared ownership schemes has waiting lists of more than 1,000 people in every council district in the county - but said they would have to wait "years, rather than months" for a home."

What am I supposed to do? The only biotech research jobs are in Oxford, Cambridge or London, and I am wasting about £10K a year on rent . I have no idea how this is going to get better without some huge house-price crash. Change career? I have been studying for this for 7 years!

I will buy you a house, if you will stop your whingeing.

Originally Posted by neio79

Its got to the point where to buy a house you need 2 good wages comming in!

i think the bst option it s buy abroad, rent in the UK so when you retire you can foxtrot oscar to a better country with a bigger house and owe nothing in the UK.

Depends where you mean really. Particularly in Western Europe you have already missed the boat for cheap property prices. OK they may still be a little cheaper than England, but if you cannot afford to buy here, then i don't see how you will afford to buy overseas and then rent here as well.

As an example, French property prices are a lot less attractive if you include all the notaire fees etc. As its a second home, if you do not keep it long term, then you will be penalised if you sell it early. Also if for example you are married and one spouse dies, the law has just changed to allow the remaining person to not be taxed. However if both die, then your children(or the people you leave the house to in your will) will be taxed quite heavily.

Plus there are too many Brits in France already.

The house price crash isn't too far away if you ask me. I'm in Northern Ireland and the growth on prices was still massive even after it started to slow down in mainland UK.

It's now completely stalled and nothing is selling. In January houses in my area sold within 2 days of being put on the market.

I put mine on the market in March. I've had one viewer with absolutely no sign of it picking up and I've dropped the price twice.

Problem is I'm moving to the North East in about 6 weeks time and I need this sold. It's gonna be tough but I can't honestly see it selling before about February now.

Nev.

[mister c]

£78 Grand a year???????? Thats nearly 4 years gross wage for me
I think I'll stay living oop norf

Originally Posted by ASM-Forever

I will buy you a house, if you will stop your whingeing.

WOOHOO!

Originally Posted by ASM-Forever

Depends where you mean really. Particularly in Western Europe you have already missed the boat for cheap property prices. OK they may still be a little cheaper than England, but if you cannot afford to buy here, then i don't see how you will afford to buy overseas and then rent here as well.

As an example, French property prices are a lot less attractive if you include all the notaire fees etc. As its a second home, if you do not keep it long term, then you will be penalised if you sell it early. Also if for example you are married and one spouse dies, the law has just changed to allow the remaining person to not be taxed. However if both die, then your children(or the people you leave the house to in your will) will be taxed quite heavily.

Plus there are too many Brits in France already.

I think he means like Croatia or Poland or Bulgaria or somewhere. Not that I'd want to emmigrate there though...

If migration and emigration continue as they are there's little chance of a property market crash as demand will outstrip supply. I've noticed a trend for family homes to be bought by developers to split into flats which are more affordable but I don't particularly approve of that practice.