Who can afford to buy a house in central Brighton/Hove .........

[Deleted User X18H]

............ even with a massive profit from previous sale I can't

 

[beorhthelm]

What sort of prices are they then? You should look at London prices, me and my partner *combined* cant get anyting other than a studio

 

[Gwylan]

The answer is rich bastards.

 

[Deleted User X18H]

I have looked a London prices (will get a Standard at London Bridge) the prices with some boroughs are compairable.

 

[Deano's Right Foot]

I moved back down from London almost two years ago. We intended to reduce our mortgage, but our original house in Brighton fell through and after renting for six months we ended up getting a bigger mortgage. And we'd made a big profit in London.

I think it's sick, and now people are looking at their pensions disappearing (or likely to) and buying property in lieu of/in addition to a pension, which is creating an even bigger property bubble.

I'd say that I'd like to see the bubble burst but would feel sorry for anyone who then falls into negative equity.

I really don't know what the answer is, but it stinks.

 

[Biscuit]

Im sure I couldnt.

 

[kevinsmith]

What sort of prices are they then? You should look at London prices, me and my partner *combined* cant get anyting other than a studio

Brighton house prices are now on a par with London

 

[Deleted User X18H]

It must and surely will burst soon. How can a young Brightonian or Hoveonian afford a property on £12 - 14000 pa The famous twin towns are heading for a social crisis and a housing shortage even worse than it is now.

 

[ziggy]

Nicholas Van Hoogstraten
Michael Owen
J.K. Rowling
Brittany Spears
Keano Reeves
Lottery winners
David Beckham
A bloke I met in a pub
The Queen
Bill Gates
Gareth Gates
Mick Jagger
Emma Bunton
Eric Clapton
Aga Khan
Richard Branson
The Pope
Busted
Paul McCartney
Johnny Wilkinson
Tim Henman
Ossama Bin Laden
Kermit the Frog
Danny Cullip

SEE!!!!!!!! Lots of people can afford it. And if these are the neighbours, Hell! I'll start saving now!
Anybody wanna buy a 2 bedroom flat in Clive Vale?
Oh yeah......and Ozzy Osbourne

 

[Giant Seagull]

Gun down all the rich bastards at the border? (but let Britney in)

 

[Lord Bracknell]

Back in the seventies, houses in Brighton used to sell for about £10,000. People who bought them usually paid a deposit of about £1,000 (achieved by saving for a couple of years through a building society account).

The £9,000 mortgage needed was roughly three times the salary of one person.

Translate that into today's conditions and this is what you need to do:-

First find your £300,000 house.

Then save up £30,000 for the deposit.

Then make sure your job is paying you enough to get a £270,000 mortgage. That means getting a job that will pay something like £70,000 a year.

Not yet got that job? Then best you try harder or wait a while.

Hold on ... if you wait a year, you'll find that the price of the house has gone up by £50,000. Which means that the £70,000pa job you've managed to get is no longer paying enough to get you a mortgage.

Thank you, Thatcher.

Best carry on renting, I suppose. But didn't Thatcher destroy that bit of the housing market as well?

 

[zefarelly]

simple answer . . . dont live in Brighton, its over priced, move out, get on the ladder somewhere more sensibly priced and most importantly STAY on the ladder, it gets easier as you get a few years under your belt then you can start to afford to pick and choose . . . .after 12 years of mortgage I've done ok, we couldnt afford the same house in central Brighton, but frankly if you paid me I wouldnt live in central Brighton.

the biggest problem is people trying to make a quick buck by moving, you wont, end of story, the only people who make money out of that are agents, solicitors and developers

 

[Lord Bracknell]

PS I forgot to mention ...

Mortgage repayments were subject to tax relief in the seventies, so it was even more affordable to buy a house then.

 

[zefarelly]

not quite Lord B . . . .firstly you can buy a perfectly servicable three bed house anywhere round here other than central Bton for 250k or maybe less . . . .and yes your going to need a deposit, but not 10% and thirdly virtually anyone will lend you anything at the moment . . . . .we where offered £250k mortgage and it would take me more than 8 years to earnt that!

I agree re the rented property and Thatcher screwing everything up . . . . .but I worked bloody hard and sacrificed holidays and cars etc to get my first place . . . .nor I'm reaping the rewards in as much as I have affordable living and disposable income . . . . .depends which way you want to go about doing it, too many people want it all now, earn and spend for 10 years without saving a bean, then all of a sudden seem to think that they deserve a house for nothing more than mums rent.

rant over

 

[Soton Seagull]

I am 'Soton' Seagull for that very reason!

(and it's not exactly cheap here)

 

[Gwylan]

...Thank you, Thatcher.

Best carry on renting, I suppose. But didn't Thatcher destroy that bit of the housing market as well?

The main culprit was Lawson with his idiotic decision to phase out tax relief on joint mortgages but within a set deadline. The result was that house prices doubled within about three months. There's really been no going back since then.

Couple that with the decline in council house building and an over-supply of jobs in the south-east and we have all the recipes for disaster.

We also the problems of a universal interest rate: what we need is a low one in the north and a high one in the south (to dampen house price inflation) but, of course, that won't happen.

 

[ziggy]

Thank you, Thatcher.

Best carry on renting, I suppose. But didn't Thatcher destroy that bit of the housing market as well? [/B][/QUOTE]


Why do you blame Maggie?
In 1996 I bought a flat in the Clive Vale area of Hastings for £23,000. It is now worth £70,000. In 1980 it would have been worth around £11,000!
Do the maths yourself and get the Maggie chip off of your shoulder, it's got nothing to do with her. If you want someone to blame try the likes of Nicholas Van Hoogstraden who buy up loads of property to rent out and leave not enough for everyone else. Or blame the greedy s who buy property just to sell on at a higher price!

 

[beorhthelm]

the really stupid thing is that Rents are more than a mortgage. So i *can* afford a mortgage, with a couple of % raise in interest rates too. Worried about negative equity? renting is 100% negative.

 

[zefarelly]

bloody good point beorhthelm . . . .exactly why I bought a flat a was happily skint for a few years . . .it was better than renting a room and I couldnt afford to rent a flat on less than 10k a year (at the time)

 

[ziggy]

the really stupid thing is that Rents are more than a mortgage. So i *can* afford a mortgage, with a couple of % raise in interest rates too. Worried about negative equity? renting is 100% negative.