The Student Room Group

At what price is a house considered 'expensive' in Britain?

Scroll to see replies

Reply 20
Original post by TheNote
My parents own 3 houses, 2 in the UK and 1 in France.

The one in France is worth roughly £150,000 (in the Pyrenees) while the two UK ones are around £130,000-135,000 (in Cardiff)

When i look at house price differences the largest difference i see between the two countries is that land is WAY cheaper in France, a 1 acre property in Shropshire could cost you £350,000+ if it's decent, in France you could pick one up for half that.

I said £300,000 or above is expensive, this is because most people can't buy a mortgage for a house if it's over £150,000 for their first home, so double that is £300,000 which could realistically be your second home if your willing to keep paying mortgage, and anything above £300,000 is normally out of reach even for middle aged peoples mortgages.


My parents own more houses than yours do
People have different ideas of expensive but I'd say generally over £500k

Hoping to buy a house worth at least £300k myself someday :beard:
Original post by MaskOfKeaton
obviously this is a little bit subjective and varies from region to region. But in general, what do you think is the cut-off price where anything above it is 'expensive' (in other words anything below is 'not expensive' ). More in terms of what older generations (i.e. your parents) would think.


Average salary in UK = 27k
Most banks will lend max of 5 to 6x gross salary for a mortgage
Most banks lend in in range of 75% - 90% LTV

ergo, house price the average person can afford cost c.£150-225k.

Thus, anything above that is expensive for the average person.
(edited 8 years ago)
which 1 mess voted 10million huh? >.>
If your thinking of buying anything more than a 1 bedroom house in london.... You need at least a budget of 350,000 to at least 450,000! Bruh have the house prices increased. A nice/ average 3 bedroom house for under 300,000 is nearly impossible! :biggrin:
Original post by thefatone
which 1 mess voted 10million huh? >.>


Make that two messes! :biggrin: 10 million is where the real fun starts! :biggrin:
Original post by Minnie Mouse.
Make that two messes! :biggrin: 10 million is where the real fun starts! :biggrin:


someone has too much money >.> give me some :colonhash:
Original post by thefatone
someone has too much money >.> give me some :colonhash:


Can't its all my parents :redface:
But I get some tooooo....
You know average prices for a house are set to be a million within 20 years?


Posted from TSR Mobile
Original post by paul514
You know average prices for a house are set to be a million within 20 years?


Posted from TSR Mobile


too bad i'll probably be a hobo by then ;(
Original post by paul514
You know average prices for a house are set to be a million within 20 years?


Posted from TSR Mobile


Well, I make a million a minute! :biggrin:
Original post by thefatone
too bad i'll probably be a hobo by then ;(


Work for me! :biggrin: I'll give you a dollar a minute
Original post by Minnie Mouse.
Work for me! :biggrin: I'll give you a dollar a minute


i want pounds.....
Well a small 2-3 bedroom house in London (or towards the edge) is ~£550k where there are no stations nearby, so i guess expensive is £700k ?
That completely depends on the qualities of the house and its area.
Reply 35
fun fact! average asking price for houses in england is around £300,000. In london, the price is more than double. London is also arguably the most expensive city to live in rn

sources you ask???? here ya go:

http://www.ibtimes.co.uk/uk-housing-asking-prices-hit-record-high-amid-first-time-seller-surge-1555121
http://www.standard.co.uk/news/london/london-named-worlds-most-expensive-city-in-which-to-live-and-work-a3192981.html
hmmm
Original post by thefatone
i want pounds.....


I'll pay you in Kuwait Dinar's.....

Spoiler

Reply 38
Original post by Judas69
My parents own more houses than yours do


good on them, just hope it's not all in London xD
You can buy a house for £1 in some areas.

http://www.bbc.co.uk/news/uk-england-merseyside-34474378

This is a very good idea for regeneration purposes. The fact that you have to be employed to buy one and also have access to funds for the restoration will stop the local area becoming a shi*thole again after they're restored.

Quick Reply

Latest

Trending

Trending