Housing costs

yep,i saw this on the news,the house next to mine a 2 bed terrace ex council,was brought for 160k three years ago,now its 250k,thats nearly 13 times the averge salary,and i'm not even on the averge.

well out of my price range,and the house is bottom of the price range in this area.

We have had similar conversations before..... but also note the average age of first time buyers in now 34 yrs old, consider the potential earnings of a couple in the 'south east'....

for example my brother in law who works in IT, his wife is an osteopath,  both are said to be the average age of first time buyers....both are employed by firms, joint income in the 55 -70 k bracket, - so mortgauge lenders will do 3 or 4 times joint income,

 do the sums.....people can and will buy in CSP for the first time if the desire is there- and if they feel investment in this area is for them,

but they may have to be happy with a flat above the market place rather than the big place on chalfont heights as their first home...!

there are also mortgage companies now offering 130% mortgages....

even the money lenders are aware of the ' investment' that can be made in properties....

I'm mid twenties (almost) and currently rent in Gerrards Cross. However, I have no particular desire to buy yet, so I'm not too worried about the sales market. When I get priced out of renting, then I will worry. But I can't see myself buying at least in the next 5 years, as my career is in it's fledgling phase and I haven't decided yet where to settle. I could've lived at home for another few years until I had amassed enough to buy somewhere, but the independence is worth the money 'wasted' on renting. I think when I do buy a place it will be more for the security than the investment.