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> For many years house prices in London increased faster than the median salary. The solution is to try and get out of London. Unless you're ultra wealthy, buy
by iamstupidsimple 5y ago
> For many years house prices in London increased faster than the median salary.
The solution is to try and get out of London. Unless you're ultra wealthy, buying a house there is just a pipe dream. Things like remote working from countryside towns may tip the scales in the right direction again.
- jen20 5y agoThis may be true north of the M4, but in the south west of England things are even more out of whack. The average salary in Bath (used as an example because it’s the last place in the UK I lived), for example, does not come close to allowing even tech workers to buy a house by normal mortgage lending parameters.
- deleted 5y ago[deleted]
- pharmakom 5y agoNonsense. Most of the well paying jobs are clustered in the South East and London. Few jobs are fully remote: you still need to be able commute in a somewhat reasonable time. Housing demand is concentrated in London and the commuter belt, but it’s better to accept insane prices than not have a good income. Your solution only applies to a handful of full-remote workers, local service workers (doctors, teachers, etc) and retirees. I would like to see the government cease inflating the housing market at the expense of salaried workers. Do it gradually so pension funds have time to adjust.
- pydry 5y agoIf you can't find work -> go to London, there are tons of jobs. If you can't afford property -> what you really need to do is leave London. It's a never ending cycle. We used to build council housing to fix this "not enough homes" problem but councils lost all their power and money under thatcher.