how much do homes cost where you live?

Oh my goodness! 

I know it's a prestigious address and all, but that's a heck of a lot of money!

Oh my goodness! 

I know it's a prestigious address and all, but that's a heck of a lot of money!

I know!  Fabulous view of the bridge and gorge, but no way...not even if I had that kind of money!!!  Id rather buy a nice little island down in the South Pacific!! 

marylebone, central london

2 bedroom flats about 600,000  (you can get some for less, but the decent ones are about that)

Right. It's official. Even places I thought were affordable aren't. We are never going to be able to afford.

DH is right. We should buy a cottage up in the highlands and islands and be crofters! 

i mean look at this little place for 625,000 it's madness!

http://www.foxtons.co.uk/search?md5=c5000b6ae21fa1065b927ff1b3dbd54e&search_form=map&per_page=10&order_by=price%20desc&search_type=SS&inst_ref=ir_myfr000322038&submit_type=search

We're looking to buy a house and I use upmystreet.com to see how much houses sell for in the postcode I'm looking in.  It also gives info on schools, the type of people (older couple w/out kids, young professionals) that live in the area (ACORN score).  I find it really useful. 

Latest stats for a 2 bedroom 'home' - and keep in mind that 70% of Edinburgh's housing stock is in the form of flats - is £200,000. 

The average wage is £23,000/annum.

If a house cost  £200,000 and The average wage is £23,000/annum : how do you need to make so you can afford a house in UK ?
kal

Latest stats for a 2 bedroom 'home' - and keep in mind that 70% of Edinburgh's housing stock is in the form of flats - is £200,000.

This reminded me of a conversation I had with a project manager when I was working up in Glasgow a few weeks ago.  She had a friend who lives in Edinburgh but
goes to live with her mother (who lives somewhere else, can't remember where) every August.  She rents out her house for £1,000 per WEEK.  Nice 4 grand supplement to her income every Edinburgh Festival time!

If a house cost  £200,000 and The average wage is £23,000/annum : how do you need to make so you can afford a house in UK ?

I assume you're asking how much do you need to earn to afford such a house?  Well that depends on the lender.  I've heard that some are allowing 5 times your annual salary so in that case, £40K per year.  Of course, Edinburgh seems rather skewed on the house price vs wage ratio!

The houses around where we are in our specific area are about £200-230K for terraced, £250-350 for semi and £350 upwards for detached.  High Wycombe as a whole is skewed lower, probably £150-200+ terraced, £175-300+ semi, £200 upwards for detached.  Of course, it all depends on what part of town you're in.

If you're moving to a new town or city you'll just need to do a bit of legwork to familiarize yourself with different parts and what the estate agents are selling in those areas.

My fiance lived with his family until his early 30s and was given some cash by his family so that he could afford a small 2-bed flat in Cricklewood (zone 3 London)...and he makes more than the average salary.  Most people who do buy in London that I know either lived at home to save for a while, lived with a bunch of people to keep their rent down & saved, or they started a few years ago with a studio flat, moved to a one-bed and then onward...or they live in areas that aren't great (sorta like Cricklewood where we live)...but have to say that the 2-bed flats in this area tend to be between £190,000 - £275,000...still frickin' expensive.

DH is right. We should buy a cottage up in the highlands and islands and be crofters! 

LOL!  Have you seen the prices of those 'cottages'?  They are second homes for wealthy Scots and English.  There's such a housing shortage in those areas, they have a very serious problem w/homelessness.  I've got a pal whose private landlord decided to sell up.  The closest thing they could find is a village 40 miles away - for £100 more/month.

The islands and Highlands have experienced unprecedented property growth.  Have a look at The Scotsman website - there's an article there about growth in those areas last week.

This reminded me of a conversation I had with a project manager when I was working up in Glasgow a few weeks ago.  She had a friend who lives in Edinburgh but
goes to live with her mother (who lives somewhere else, can't remember where) every August.  She rents out her house for £1,000 per WEEK.  Nice 4 grand supplement to her income every Edinburgh Festival time!

One of the academics I work with has a three-bed flat about a mile up from Princes St.  He bought it when he got a small inheritance from the sale of his deceased parents' bungalow outside Cork, Ireland in the early 90s. 

He lets it out every August.  For £3000 so he doesn't have to pay tax on it.  He swans off to Italy and holidays in style.

£3000 for three weeks. 

Does anybody know a sheap place in UK with nice houses. I did notice Sutton-In-Ashfield, nottingham by looking in right move dot com.

What do you thing ?

Real estate prices have become insane here in recent years.   

Prices around Norfolk have been spiraling too, but at least they're still better value than many areas.  Here's a local agency which operates in Norfolk and part of Suffolk:

www.aldredsresidential.com

A few examples from nearby:

2/3-bedroom thatched cottage, Sea Palling, £235,000

3-bed semi-detached, Stalham, £137,500

3-bed detached, Eccles on Sea, £95,000

There is a house on my street that is for sale as a "fixer upper". My husband checked and the price is £190,000.