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Author Cheap houses 'back in the day'
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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18th Feb 09 at 23:10   View User's Profile U2U Member Reply With Quote

I was talking to people at work about houses and stuff.

One woman bought her own house at 18, in 1981 in Doncaster.

Her deposit was 600, and the total house value was 10k. Her mortgage was about 25/month and she earnt about 3k/year.

28 years on and
Colin
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Registered: 4th Apr 02
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18th Feb 09 at 23:18   View User's Profile U2U Member Reply With Quote

My Granny paid something like 1200 for her bungalow. Shes lived in it for something daft like 47 years!!
Matt H
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Registered: 11th Sep 01
Location: South Yorkshire
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18th Feb 09 at 23:19   View User's Profile U2U Member Reply With Quote

My grans house cost something like 50 in Sheffield...it's now a "trendy area" & they go for about 350K upwards
Colin
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Registered: 4th Apr 02
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18th Feb 09 at 23:24   View User's Profile U2U Member Reply With Quote

Like ive always maintained, invest in property, you cant go wrong!! Fuck pensions!!
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
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19th Feb 09 at 07:41   View User's Profile U2U Member Reply With Quote

But Colingus surely we reached a ceiling a year ago? Salaries arent inflating at the same rate = this housing crash thing (and the CC obv) and property is only worth what someone will/can pay for it?
MarkM
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Registered: 11th Apr 01
Location: Liverpool
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19th Feb 09 at 09:44   View User's Profile U2U Member Reply With Quote

My Nan and Grandad paid 5000 for their house over 50 years ago!! They said at the time it was a lot of money and they were unsure whether to take the plunge...

It's obviously worth a lot more now...

stuartmitchell
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Registered: 24th Apr 04
Location: Kirkliston, Edinburgh
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19th Feb 09 at 12:40   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by dannymccann
But Colingus surely we reached a ceiling a year ago? Salaries arent inflating at the same rate = this housing crash thing (and the CC obv) and property is only worth what someone will/can pay for it?


Rental prices are on the increase though and the market has bottomed out. Ideal time to buy.
pow
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Registered: 11th Sep 06
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19th Feb 09 at 12:52   View Garage View User's Profile U2U Member Reply With Quote

My Nan's first house was 1200
Neo
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Registered: 20th Feb 07
Location: Essex
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19th Feb 09 at 12:55   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by MarkM
My Nan and Grandad paid 5000 for their house over 50 years ago!! They said at the time it was a lot of money and they were unsure whether to take the plunge...

It's obviously worth a lot more now...




same
johnhara1
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Registered: 19th Oct 06
Location: Newcastle upon Tyne
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19th Feb 09 at 14:54   View User's Profile U2U Member Reply With Quote

My grandad paid about 5K for his house many years ago.

He recently got double glazing put in and the windows cost more than the house
RichR
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Registered: 17th Oct 01
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19th Feb 09 at 14:57   View Garage View User's Profile U2U Member Reply With Quote

My Grandad paid 500 for his first house just after WW2; at the time he was earning 150 a year with a very small amount from my Nan's earnings; so essentially they paid 3 times their annual wage.

Me and the missus paid les than 1.7x our annual wage; so in my mind - I'm in a better position than my Granadad was when he first started out.

What you have to remember is to not view that house price as 150/500 etc; you have to consider it as a multiple of the average salary at the time to account for the inflation oer the years since. 150/500 sounds like nothing now but back then it was a mountain of cash! Plus remember its also when they had pounds, shillings and pence so the currency structure was different as well

[Edited on 19-02-2009 by LiVe LeE]
J da Silva
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Registered: 10th Apr 03
Location: The FACTory
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19th Feb 09 at 14:58   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Colin
Like ive always maintained, invest in property, you cant go wrong!! Fuck pensions!!


Yeah, I don't have a pension, look at the problems they are bringing now.
Property hoarding is my game.
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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19th Feb 09 at 16:21   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by LiVe LeE
What you have to remember is to not view that house price as 150/500 etc; you have to consider it as a multiple of the average salary at the time to account for the inflation oer the years since. 150/500 sounds like nothing now but back then it was a mountain of cash! Plus remember its also when they had pounds, shillings and pence so the currency structure was different as well

I took this into account with the lady at work. The house was 5k or what ever, but she only earned about 2k/year.

Sadly, if I'm lucky enough to start on about 25k after I graduate through a Graduate Scheme, 3 x that gets absolutely nothing around here.

[Edited on 19-02-2009 by deano87]
mattk
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Registered: 27th Feb 06
Location: St. Helens
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19th Feb 09 at 16:27   View User's Profile U2U Member Reply With Quote

im aiming low, 65k is abouth the sort of stuff I want, seen a good few
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
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19th Feb 09 at 21:34   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by mattk
im aiming low, 65k is abouth the sort of stuff I want, seen a good few


Dunno about the local prices round your way, but not going to get you much is it? 80k round Lincoln way gets you a nice 2 bed semi, a bit of TLC 3 bed, 100k gets you a 10 year old 3 bed semi in a nice area.

Although I guess with you being in the trade you know the people to get the dog houses up to spec
Mad Moe
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Registered: 14th Jun 01
Location: Northumberland
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19th Feb 09 at 21:50   View User's Profile U2U Member Reply With Quote

My parents built their own house 23 years ago for about 48K it's not worth about 560K
mattk
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Registered: 27th Feb 06
Location: St. Helens
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19th Feb 09 at 23:19   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by dannymccann
quote:
Originally posted by mattk
im aiming low, 65k is abouth the sort of stuff I want, seen a good few


Dunno about the local prices round your way, but not going to get you much is it? 80k round Lincoln way gets you a nice 2 bed semi, a bit of TLC 3 bed, 100k gets you a 10 year old 3 bed semi in a nice area.


65k round here will get me a good sized 3 bed ex council house thats "in need of modernisation" there is one I have my eye on but things are slow at work and I need about 2k more for a healthy deposit, dont really want to use the minimum 15% I want a few k more. If I had as much work now as I did this time last year Id bite their hand off.. its in a good area too, the full row is private owned. this one is just really scruffy

Although I guess with you being in the trade you know the people to get the dog houses up to spec
stubbsy05
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Registered: 23rd Oct 02
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20th Feb 09 at 06:16   View User's Profile U2U Member Reply With Quote

My Dads house is valued at 375k-400k

He bought it for 250k in 2002 off my grandparents who bought it in 1966 for 1500!!

[Edited on 20-02-2009 by stubbsy05]
deano87
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Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
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20th Feb 09 at 10:18   View User's Profile U2U Member Reply With Quote

danny and matt, you're gits for living up north. If you're bored, my postcode is SG18, look for properties in the area
a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
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20th Feb 09 at 11:46   View User's Profile U2U Member Reply With Quote

our children will be saying the same thing in25yrs time

im with colin and silva
Marc
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Registered: 11th Aug 02
Location: York
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20th Feb 09 at 19:03   View User's Profile U2U Member Reply With Quote

Prices near me for 3 bed semis in 2003 were about 70k. Now you can't even get a 1 bed flat for that!
John
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Registered: 30th Jun 03
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20th Feb 09 at 19:13   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by deano87
danny and matt, you're gits for living up north. If you're bored, my postcode is SG18, look for properties in the area


Loads of 2 and 3 bedroom semis for under 100k within a 10 mile radius.
Cosmo
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Registered: 29th Mar 01
Location: Im the real one!
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20th Feb 09 at 21:14   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Matt H
My grans house cost something like 50 in Sheffield...it's now a "trendy area" & they go for about 350 upwards


To live in Yorkshire hey
Nath
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Registered: 3rd Apr 02
Location: MK
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20th Feb 09 at 22:04   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Mad Moe
My parents built their own house 23 years ago for about 48K it's not worth about 560K


Why not?
dannymccann
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Registered: 9th Aug 06
Location: Doddington, Lincolnshire
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21st Feb 09 at 08:05   View User's Profile U2U Member Reply With Quote

quote:
Originally posted by Cosmo
quote:
Originally posted by Matt H
My grans house cost something like 50 in Sheffield...it's now a "trendy area" & they go for about 350 upwards


To live in Yorkshire hey


^

Deano:

75% SO

Brussels Way, Luton

Brussels Way again

Houghton Regis

St Neots

Obv I dunno what you are looking for, but I would say you are fairly limited by the lack of choice under 100k when the majorit of them look either like caravans or shared ownership between 25% - 50%


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