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12/11/2004, 9:30 AM ian woolger Joined on 12/11/2004 Posts 5 House Prices "6 times more than wages"????? It was with interest that I caught the headline "House prices are six times more than wages in E Devon" and thought this a worthy topic for conversation. Having some 3 years ago sold my house, I have subsequently found that "re joining" the property ladder is imposible, let alone being young and wishing to join it for the first time! The article says a "modest size home" is six times more than the average wage and I would beg to differ. You only have to scan the Job Centre or local newspaper adds to find that the local wages are often either "minimum wage" or if you are lucky up to £6 an hour. These are real wages that real people have to live on, so even in a best case scenario of two partners working full time at £6 hour each you would have a total income of £24,960 before deductions, with mortgage lenders giving at best 4 times joint income this would equate to a mortgage of £99,840 !!!  Try looking for a house in Exmouth for that, even flats are selling for more. It is all very well for these surveys to be published, but I would love to know exactly where "Mr and Mrs Average" live, on whose wages these surveys are based, because I want their jobs. Are you on the housing ladder, or wishing you were, hows about we have some on forum conversation regarding this topic. Lets hear what real people have to say..     Report

07/03/2006, 4:55 PM DWood Joined on 07/03/2006 Posts 1 Re: House Prices "6 times more than wages"????? I totaly agree with you there. It is nigh on impossible for young people to get a morgage these days, i know of two young families who have tried very recently only to have been turned down. Both have been told that they could only borrow £90.000, what can you buy for that pittence!!  Its all very well being told that this new town will house 40% of affordable housing---but who decides what is affordable. Its time the South East was bought into line with the rest of the country as far as wages go.    Report

22/06/2006, 9:53 AM Boris Joined on 21/06/2006 Posts 2 Re: House Prices "6 times more than wages"????? Speaking as someone living in the South East about to move to Devon I can only agree. I was fortunate enough to buy my first property in the South East in 1980 for £25000! Prices have rocketed since then. If I had not bought then I could probably never have afforded to buy a house. With teenage children I am increasingly concerned about how they will ever be able to buy a place to live. The government's solution in the South East seems to be to build as many flats and small properties as possible, packing them in any available space. Where I live there are currently campaigns to stop developers buying up larger properies, knocking them down, then building blocks of flats in their place. Despite this widespread building property prices are still going up and the gap between rich and poor is getting wider. Boris.    Report

21/07/2007, 11:04 AM lizzie Joined on 21/07/2007 Posts 1 Re: House Prices "6 times more than wages"????? You may be interested in looking at the 'Purbeck Housing Action Group' website    Report

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