The UK Housing Market Is A Mess!

- Prospective buyers need to earn about £20,000 above the average UK salary to afford a typical home.
- The required pre-tax income to buy an average property is £53,913, while the average UK salary is under £35,000.
- Flats require a below-average salary (£30,666), but detached houses need £86,633.
- London is the least affordable, requiring £134,241 annually; Burnley is the most affordable, needing £23,244.
- Mortgage rates and house price increases exacerbate affordability issues, especially for first-time buyers.
source: Moneyweek
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[@TheAnxiousInvestor]

I can't ever see it getting better tbh. In the long term property will become more and more unaffordable.

[@Killergoat69]

Like you say it’s a housing ‘market’. Supply and demand. We have a population explosion that’s driving wages down and property prices up.

[@youtubeman5033]

Houses are selling where I live I have been in a bidding war 3 times in the last few weeks and I didn’t win any of them , cash buyers there’s lots of them around with pots of money, they are grabbing all the bargains, how can there be a problem when this is happening

[@mattm9831]

I don’t make more than the average wage and I bought a property, it’s your attitude

[@CCP_Operative]

Population increase is all from migration as the birth rate has been about 1.5 children per woman for decades. If we had net zero migration then the population would have been falling, and we would need fewer houses not more. Population increase from 1960-2000: c.6m 2000-2020: c.8m larger increase in half the time. Like you say there are many factors but migration is a massive one. I'd like to see migrants come to the UK but in very small numbers until the housing problem is solved. I agree with your video👍

[@Reformuk11111]

Do you ever feel like the housing market will actually crash ? Because the way it seems to be going up , I think at one point people won't be able to even rent .

[@TheAnxiousInvestor]

I thought we’d have got a drop by now tbh a few years back when I said it. But was wrong. Hard to decipher exactly what’s kept it propped up. Larger institutions buying, stupid low deposit schemes perhaps. Bubble needs to pop a little bit imo, as per most cycles but who knows. Think a crazy recession is on the cards generally though given the markets having ATHs / blow of tops. See what happens in 2025.

[@BrandNew777]

Mass immigration as well? Look at the population explosion as a major factor as well.

[@FinancialHealth-ku1ry]

The immigration card. Leave it out, getting old

[@Killergoat69]

@@FinancialHealth-ku1ry you think 1million people coming into the country every year has no effect? It’s supply and demand.

[@rubensnogueira5838]

I am an immigrant myself and I have to agree with that. Too many people arrived and not enough has been built to compensate.

[@CCP_Operative]

​​​@@FinancialHealth-ku1ryWhat are you on about? You do know it's not racist or bigoted to point out that migration pushes up demand and prices for limited resources. It doesn't mean you dislike individuals because they are migrants either. Population increase is all from migration as the birth rate has been about 1.5 children per woman for decades. If we had net zero migration then the population would have been falling. (Fewer homes needed, not more) Population increase from 1960-2000: c.6m 2000-2020: c.8m larger increase in half the time.

[@CCP_Operative]

​@@Killergoat69Ignore the guy trying to insinuate you're committing some sort of ism. Playing "the migration card" Basic economics that more demand pushes up rices. And it does not mean that you feel any hostility for the individual migrants here.

[@youtubeman5033]

Houses are selling where I live I have been in a bidding war 3 times in the last few weeks and I didn’t win any of them , cash buyers there’s lots of them around with pots of money, they are grabbing all the bargains, how can there be a problem when this is happening