Post by scc on Nov 30, 2018 9:55:21 GMT
Nov 30, 2018 9:44:29 GMT scc said:
It does vary enormously. For example, Stoke-on-Trent is near to where I grew up - and it is basically the land that house price inflation forgot. You can still pick up a terrace for £40K. About the same price it was 20 years ago. But there's a good reason for that - it's an area that never really recovered from the decline of the pottery industry. Other places, and not just SE England have seen stupid levels of increases. Here in Wales, the prices in some locations have 10x in the last 25 years while salaries have at best doubled. Low interest rates and various government interventions mean an earning couple can still afford that - providing they don't want kids and don't suffer any financial shocks like illness or redundancy. Northern Ireland is, of course, the poster child for astronomical increases.
House prices have gone up 10 x while salaries have doubled.
However, interest rates have plummeted so mortgage interest payments have not gone up much.
I like to buy things cash so I find this frustrating but most people only care about the monthly payment amount