Paddy O'Dors
Striker
who owns the echo these days? i know reach get a proper bashing from private eye almost every issue...
Johnston Press still.
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who owns the echo these days? i know reach get a proper bashing from private eye almost every issue...
Is that today's starter home price? Hmm.
So you'd need maybe 10% for a deposit, 22.5k.
You'd need to be earning around 45 to 50k to get a mortgage for the other 200k. That isn't in any way a starter home for the average person. So what a strange article to print.
It's based in Sheffield these days I think. Maybe that's a very low price in Sheffield this a starter home. Something tells me it isn't though.i think its the starter home price, for where ever the journo who wrote it lives... i don't think the person writing these stories for a "sunderland" paper is from the north east. just a hunch.
search engine bollox i think ("click bait")
I still wouldn't class it as a starter home. You can get houses up here for half that cost. So I'd class that price range as a starter. But obviously if you've got the money and you're a first time buyer then any house you can afford is your starter home.Maybe not for a single person in the NE but achievable for a couple who are both working.
I still wouldn't class it as a starter home. You can get houses up here for half that cost. So I'd class that price range as a starter. But obviously if you've got the money and you're a first time buyer then any house you can afford is your starter home.
Trouble is a lot of young first time buyers don't want a traditional "starter home" which might be a small flat or terraced house in need of some attention and then move up the ladder in a few years. Instead they want something with "kerb appeal" or "wow factor". Those property porn shows on Channel 4 have a lot to answer for.
Agreed. Most young working couples will have a budget that means the old fashioned starter homes are way below budget. Buy to let really hasn’t helped places like pallion and millfield.
40 years is the new 25 years.Yep if they mean first time buyers as in a couple on a decent wedge that have previously been renting. That bungalow would be a £22k deposit £1000 per month for 25 years![]()
Yep if they mean first time buyers as in a couple on a decent wedge that have previously been renting. That bungalow would be a £22k deposit £1000 per month for 25 years![]()
“Interest rates can go up as well as down.”Yes, but that £1000 would be fairly constant throughout the 25 years so would get cheaper in real terms thanks to inflation and presumably the couple's income would increase too so would make up a decreasing percentage of their income. If they were renting their monthly payment would likely go up each year.
The Echo is an embarrassment, the website is as well? Say no more. only 60+ readers bother with it? So sad they abandoned the city. Ideal for 1st time buyer ? Peter Heron thinks we read it? Does he really think is ideal for 1st time buyer, dear me
Both need flattening. Shitholes.Agreed. Most young working couples will have a budget that means the old fashioned starter homes are way below budget. Buy to let really hasn’t helped places like pallion and millfield.
Still not a first time mortgage for most people in the north east mind which is the point of the op.Yes, but that £1000 would be fairly constant throughout the 25 years so would get cheaper in real terms thanks to inflation and presumably the couple's income would increase too so would make up a decreasing percentage of their income. If they were renting their monthly payment would likely go up each year.
Back in the day getting a house and being skint but doing it up slowly was part of life. There was a progression and it was fun to have a place of your own. I reckon Sunderland is a great place to be able to do it far more reasonably than most places. Still manage a few beers out no matter how skint.Kiss goodbye to any social life and holidays , no wonder divorce rate is high
You want to see some of the bungalows me mam's been looking at, £500k and needs a complete overhaul from 70s decor. Along the coasts likeShit and overpriced, worth no more than 125k.
You want to see some of the bungalows me mam's been looking at, £500k and needs a complete overhaul from 70s decor. Along the coasts like
Fair point but more to do with with huge foot prints.Bungalow prices are mental due to bed wetting
Fair point but more to do with with huge foot prints.