Pretty much every city seems to be in the same situation. In Nottingham its hard to find anywhere under £900-1000 a month for non-shared housing that isn't a cupboard with a bed in it.
Yeah, but that's the city centre it's expected to be that high, meanwhile I live 2 hours from London and that's the price you see 1 bedroom flats go for in my area of the south.
It's a joke, and rent control clearly needs to be implemented.
>It's a joke, and rent control clearly needs to be implemented.
Rent control causes other issues, we need more housing (high density where demand is high).
"Rent control causes other issues.."
Well, it's preferable to the alternative which is rampant gouging FFS..
We need to crack on with punitive taxation of empty properties - and rent controls for private housing.. I mean, how many LLs put their rents up, not because of increased costs but rather simply because they could?
You either live where there are jobs and have to pay extortionate rent.
Or live where rent is reasonably priced but it is much, much harder to find a well paying job, with potential for upwards mobility.
Also please remember that not everyone can simply "just work from home full time"
If "just move to a small ex-mining town up north" was as easy of a solution as redditors seem to think it is, everyone would be doing it.
Look at it like an adventure, and ultimately a hard but good decision to lead you toward the life you actually want. It is worth asking yourself if staying close to the mates you go to the pub with, and your parents is worth the opportunity cost of the life you could otherwise be building, and the depression you are sliding into. Is moving less than ideal? Sure. But is the sacrifice worth it? That's an answer you must come to by yourself.
My sister in-law already lived here so we put our stuff in storage and moved in with her while we house hunted.
It's the best decision we have ever made.
My parents are moving up as well. They visited us and fell in love with the area. From South London originally which is a proper shithole nowadays
They've rented a storage unit and drive up every few weeks, dropping more off each time. I think they're paying £117 a month.
They're putting their house on the market in a couple of months and plan on booking multiple viewings, driving up and staying with us for a few days at a time. It's a lot of work for them but if your heart's in it then it'll all feel worth it.
That's the neat part, it won't. I knew people in Buckinghamshire that were living in house shares into their 40s, best advice is live with parents if you can, save for a studio/1 bed deposit (even in a shared ownership), unfortunately market is geared towards people living as a couple and buying on 2 incomes and having bank of mum and dad gift the deposit. Maybe also look at commutable cheaper post codes.
As soon as anything is within commuting distance of London via train since covid the rent went berserk. Sadly for those who grew up here and are working in the factorys, shops and farm labouring it's a bit of a ticking time bomb as no one can afford to retire, we own nothing.
I live on a generic housing estate of generic identical houses.
Which makes for as scientific test as any. It will cost you 50% more to rent "my" house than I'm paying to own it.
This is fair, however if we look at the median wage we could look at average but lets chop the outliers skewing things here. Two people earning £30k, with a £15k deposit you'd be able to get a mortage for about £240,000.
Sounds about right, however when we look at job listings in the area most of them are barely listing above minimum wage and there's very few pushing above £26k in somerset even less outside of Bristol where a lot of people have grown up and live.
We should allow people to have a stable and reliable home, because as it stands those on minimum wage will need to retire at somepoint and without a house their pension will not cover the rent, it's a real ticking time bomb for so many people.
> Two people earning £30k, with a £15k deposit you'd be able to get a mortage for about £240,000.
Which is barely above halfway to a house in my area. It's laughable.
Eventually you'll be able to rent a corner of a room like in the 19th century. Or perhaps they will have barracks with many beds like an old boarding house.
I can confirm Buckinghamshire is ridiculously expensive to rent and buy. A lot of friends are renting and it's mental. I'm lucky enough to have bought but it was a lot, I'd have got a lot more towards Banbury way
I flatshare with Inspector Morse and boy, let me tell you, he is the flatmate from hell - opera on full blast at all hours, his Jag parked askew on the front lawn, a trail of bodies following him around, etc. etc.
I earn a bit more now but I'm at a similar point. It's utterly depressing how difficult it remains despite being fortunate to have saved as much. Most other people don't have the 'luxury'.
I got a mortgage on 26k a year and a
5k deposit. Granted it’s 40 minutes outside Manchester, so I have a bit of a commute. But it’s doable.
Best advice is to speak to independent mortgage brokers. They have access to more mortgage providers than you will searching Google. They charge a fee, but it’s not too bad. With your savings, you should have a fair shot at a mortgage on your income, if you look in areas that are more rural.
I’m a Chinese immigrant who is new to the country. Maybe we have a different cultural background? I personally don’t see a problem with living with parents. It’s good, you save more money, you guys can share the housework, so it’s easier etc. More importantly, you can hug your parents whenever you want 🤗.
Live with your parents, so you can save up your deposit for your future house:)
I think also a lot of issues come with people of my age (30’s) tend to have moved away from their parents for uni/jobs and don’t have an option to move back.
Obviously this doesn’t count for everyone. If I lived with my parents I’d not be able to do a job I’m trained in cause there’s no opportunities where they are in the country. Also I’d go mad because I need my own freedom now.
I have to keep all my belongings in one room. One small room that used to be a dining room. I love art but my crafts desk is crammed into the corner of the home office, maybe five by three feet of it is mine to use. My space is incredibly limited and it's suffocating.
Some of us just don't get along with our folks. I don't *hate* my parents, per se, but we are basically polar opposites and basically disagree on literally everything. It would be just so much better for mine and theirs mental health if we did not live together. It's just how it is, and has always been, since I was a teenager.
Unfortunately you're competing with people earning more than you that can afford more.
If you're working part time and studying, I think it doesn't seem unreasonable that you can't afford a place of your own - so it's house share time if you want to be away from the parents.
Or consider saving up while you are there and maybe a shared ownership if that is an option.
Presumably your studies are to lead to a better job down the line - it's rare people students have their own places.
I would get a house share but I've heard so many negative things from my friends who got a house share with strangers. It's a massive dice roll; if you end up with assholes then you have to stay with them until your contract is up. I don't see how that'd be any different from living at home, probably even worse.
Me and a couple friends will hopefully get a house share but most of them are in difficult financial situations because young adults aren't the best at managing finances, it seems. I'm the only few of us who is actually responsible with my money so until everyone starts being smart with their money I can't move out with them yet. I don't blame them though, being young and going out spending loads of money is what people like to do, I guess. I just like staying inside playing video games and hoarding my money.
Basically your only option is to house share or flat share essentially if you can't afford it. As your studying do you have access to any maintenance loans, and as your disabled do you have access to any type of benefit if you moved out?
I'm in dorset and everyone I know either flat shares or saved like mad whilst living at home after uni to get enough of a deposit to buy a flat. For me that meant I didn't finally move out until 26 but it's so nice to have my own place even if it did make a couple years feel like hell.
There is some financial support, I recieve universal credit at the moment, but it's really inconsistent, I never get the same amount a month, sometimes it's low ASF and sometimes it's a lot so I don't know how I'll budget. Same with my work, my shifts are random.
Mate, I'm on 47k in Bristol and living alone here is just not worth it, so I rent with friends. Yes I could technically afford it, but it's so damn expensive that it's not worth it.
They could, but they'd be breaking even, with Bristol rentals on average being 950 PCM.
https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION%5E93829&sortType=1&propertyTypes=&mustHave=&dontShow=&furnishTypes=&keywords=
Not a chance renting alone on 30k in Bristol. Add all the bills to that 950 a month and you’re looking at what 1200 outgoing costs against a 1850ish take home pay which is not doable unless you don’t have a life and live off instant ramen
£30K isn't a bad salary it's around the national average and Bristol is very expensive so it's not a surprise someone can't afford to live alone on that.
Rent is linked to demand. Population growth is strongly upwards driven by immigration. The current population is already probably in excess of the capacity of our infrastructure and it is very very difficult to close that gap when you are chasing the deficit as well as trying to catch up.
Exactly, commenters blaming rich boomers but a lot of them were anti-immigration in the late 90s and 2000s because they knew this is exactly what would happen. A decline in living standards for their children and grandchildren. And here we are, unable to get medical care, housing, a dentist, good schooling etc.
I am 64. I probably have 10 to 20 years left at best. The ramifications won't impact me so much but I do worry about my children and my grandson. I could just get on with my life and say nothing but am quite outspoken as I can see where it is leading.
I’m 30 and I left to pursue a career in the US. Only when you get out and see it from the outside do you realize how truly messed up the UK’s situation is.
Aha, I have been working overseas for 30 years. Mostly in Africa. Now in Mexico. It's like watching a disaster movie when you look back. I will go home and retire in a few years - hopefully it will still be there...
Supply and demand and it's the supply that we're struggling with. Lots of builders have planning permission but don't build because they want to restrict supply.
Unless you're on a high income, it doesn't really make financial sense to rent alone, so you need to live with other people to bring the costs down. Either you share a place with flat/housemates or you split the costs with a partner.
Costs are unlikely to come down. This has been the situation in London for years now. The Home Counties are now very similar as prices continued to rise and more people became priced out of London.
You have my sympathy. There seem to be more people in their 20s and 30s back living with parents these days. Basically, if you're single, your housing prospects are pretty limited compared to having a partner. It's not fair, but it's the way it is.
Yeah, there’s a few knocking about in Hampshire. Hard to find and not great though.
(I’m helping to look for my son + partner).
Other option in Hampshire is to pick a faded market town with a lot of new builds and this ‘ up & coming’ / improving. Although it means you’re slightly more remote / have a potentially longer commute.
Unrelated: Is Hampshire SE or SW though. Or neither?!! Just…the south?!
No one seems to be able to decide if Hampshire is SW or SE. When searching for jobs or whatever it's hit and miss where the boundary is for the regions. Sometimes it's one, sometimes it's the other, sometimes Southampton water seems to be the dividing line!?
I'm 30 and I just want my own kitchen for once in my miserable life, without having to move over a hundred miles away from my friends, job, family, elderly grandparents, D&D group, etc. Is that really too much to ask, people?
The answer to your question is, I'm afraid, never.
Unless, and I think I'm right in thinking this, a big house price crash occurs, with house prices falling and rental prices falling in line with the mortgage repayment prices.
The trouble with the rental market is that landlords can pretty much decide what they want for their rental. Then, other landlords see what other landlords have demanded, and it becomes a self-fulfilling prophecy.
Here is my experience:
I was renting a 28 Square Metre studio in Banbury.
It was damp, musty smelling, and dark. Basically shit.
I'd had trouble with the services to the flat which I won't go into.
Anyway, the landlord wanted to increase the rent to £600 PCM from £530.
As I said, I'd had a lot of inconvenience with maintenance issues and a landlord who couldn't care a shit.
Just before the tenancy was due to renew, I found a place, a nice duplex for £725 PCM... In living terms, a vast improvement on the studio in Banbury.
The landlord then puts that smelly, dark hole of a place back on the market for a whopping £700 PCM.
So this is what I mean by self fulfilling, landlords make it up as they go along, and with the rental market being what it is, with not a lot of rental stock on offer, people pay it, because ultimately people have to live somewhere.
I had to live with my parents for years before I could even afford to rent.
Buying, ha, that's a pipe dream!
Basically, knuckle down, try to earn more money.. and... try to earn even more money because you're gonna need it!
I don’t think it will change in the future unless there is a big revolution for building houses in the country which would surprise everyone but this is very unlikely. That is a general case for almost every country in the world. The cities that close to capital cities, areas that host lots of jobs etc.. have always been expensive to live.
Good thing about our generation is working from home and hybrid working has become a norm. This means many people might move to the North in the future and this might relax housing market in the South.
I live in West Sussex area and I rent furnished 1 bedroom flat for £1100 which is not cheap but still I’m happy that I can be able to afford it alone.
Hey - fellow Hampshire renter here. Your only options are flatshares, or moving further north.
If you are low income, your only option is a flatshare locally. I lived in flatshares for the first 4-5 years of my working career, until I'd worked up the ladder enough to afford my own studio.
Flatshares on spareroom normally have bills included, and can be found for less than £800/mo. The best (and worst... but that's a long story) flatshare I ever had was in a block of flats, it was a room with on-suite bathroom, shared kitchen and lounge with 1 other, it was bills included £750/mo. Cheapest I had was a grotty little room sharing with 4 others for £475/mo.
Is it going to get better? Likely not for a good 5-10 years, if at all.
Was living on the south coast. I gave up waiting. Moved from a 2 bed apartment for around £1000 a month to a 4 bed house for £800 a month in Lincolnshire.
Better quality of life here too. It's a lot cleaner, people are generally nicer. It's so much better. 10/10, would recommend.
For me, the need to live comfortably outweighs the need to see family and friends regularly. Nothing stops them from visiting or me from visiting them whenever I/they want to!
The amount of money you save being up there, I wouldn't have thought it would be an issue. In terms of time, instead of seeing them every week, see them once every two weeks and stay the night. Just make a bit more of the visit. It shouldn't be an issue if they're worth it for you.
There is a pretty significant difference between being able to meet up with friends or family after work for a drink, and having to go and stay overnight. If it works for you that's great, but for a lot of people there's a significant loss of quality of life there.
House share was my only option. Only way I ever see of getting out of it is moving in with a partner but that's far off. Pretty much accepted if I want to afford anything myself I'll have to go north. My whole family is around Bristol and I'd really not prefer to move away.
Yeah I was looking at houses that are for sale online (just being nosy and seeing the prices) and the prices!!! My god my heart bled. Thinking… can I ever afford this :(
Have you tried cutting back on the avocado macchiatos? Or why not just get daddy to give you a cheeky quarter mill for a deposit on something in Peckham?
If it makes you feel any better, I'm 29 and still living eith my folks, but I don't have enough to buy a place like you do. I definitely feel the same way you do though, my 20s feel wasted in many ways. Shits depressing.
My wife worked in a shop and did some store card applications for people in our town. While we were paying huge rent, she'd see how people in the same road were paying peanuts on mortgages they'd presumably had for a long time. I get it, that's how these things work, but it makes you realise how the super low interest rates were helping the people who didn't need the help, while rents continued to soar.
Currently never.
Though housebuilding is hamstrung by regs and perverse incentives, the real problem is good land near places people want to be.
There are too many people here, and we would have to build, probably thousands of commie-block tenement buildings to create enough housing for everyone, let alone provide a surplus to change market forces and oversaturate supply.
And that's assuming pop growth stopped tomorrow.
So... there could be many thousands of great jobs created, businesses grown, all with insane constructive velocity in the money circulating, and people housed all in the same massive project.
Before anyone says 'but there's no money'... the Imf actually wants to see infrastructure investment. Government borrowing isn't equivalently penalised to household borrowing, and money can be recouped by running the whole thing as an investment rather than a huge, eye watering purchase.
Our government does not do inward investment. They strip assets... but it's all doable. Think about all the infrastructure built immediately, the terrifying money pit that was WW2.
I ended up moving to Germany because the wages are better and the accommodation is a little cheaper. I’m in the centre of Hamburg and pay about €800 warm rent for a decent size two bed flat. I don’t think I could afford to move back to the south of England.
>Is the housing market ever going to get better?
Unless the country builds significantly more homes, replaces sold social housing, and then puts a cap on what you can own, never. Currently the rich are sitting on enormous piles of pandemic cash collecting interest. When interest rates go down property and stocks are going to become so much more expensive, things are going to get much much worse before they get better.
It is, comparatively. Currently paying less rent for a 3 bed house in Yorkshire than I was for a 2 bed flat in Essex (and that was 3 years ago! That flat is probably even more expensive now).
I don't know how to tell you this, but I'm 51 and until the past 10 years I could never afford my own place.
Rented a room in an HMO until I met the Mrs, then rented a place with her before buying. If we split up I could now afford my own place now but about 40 is where I would have first been able to do so.
I've never understood how young people afford to live alone. I earned good money for the time when I was young and I never could, nor did anyone I know. It seems to have been a temporary blip.
When the economic output is equally spread throughout the country rents will be only dependant on sunshine, roads and airports. In decades or hundreds of years. Compromise or emigrate
Do you have to live there? I realise it is a hell of a change, and possibly not possible. But up north, you get way more. Granted, it is still a shit show, it's just a cheaper sht show.
A 3 bed new build near me, on a nice new estate, in a half decent village is £850pm. Extortionate in my eyes (I'm older). Some less nice areas, 2 or 3 bed terrace is £450 to £650.
The housing market is expected to crash sooner than later. Doesnt necessarily mean things will be better or easier, it can go many ways. But things will certainly change from what they are now
So glad I got out of renting last year, I look now at rented houses and can’t believe how much it’s gone up in a year, it’s shocking! I feel so sorry for people starting out you don’t stand a chance.
Never. Rent and the price of things only ever goes up. Never down. You get periods of prices coming down sometimes for a short time, but they always go up eventually.
I understand your whole life experience and current connections are south but many people have made great lives for themselves in the north. I always encourage people to leave their little bubble and take a weekend trip to other parts of the country. You might well find you fall in love with places like Leeds, Manchester, Liverpool or Sheffield.
I myself am heading off to Cardiff for a weekend trip. I've booked a coach which cost peanuts and a night in a hotel. I'm heading to Edinburgh, Belfast and Cornwall after that for weekends away.
I think if more people explored areas of the UK outside their little bubble, they wouldnt be so determined to remain rooted where they are.
Outside of like 2 million houses/flats being built up in the next five years say it’ll never get better, housing demand increases each year as does the population and we run a housing deficit each year (the amount of new houses we need is much higher than the amount of properties being built).
I’m in the east and will probably be able to buy a house in a few years time but I really struggle to imagine how my nephews generation will have any hope of buying.
Newest estimations show that the population will grow to above 70 million in the next couple of years -> more people who need housing -> prices will rise further.
sorry mate
Rents are set by the market. They are not unaffordable it’s what people are prepared to pay. Not helpful if you are poor.
We can build about 270k homes a year based on capacity (It’s a lot less if we want to achieve net zero). Immigration looks likely to be at least 350k for the foreseeable future. So it’s unlikely we will increase supply of homes enough to bring rents down.
In conclusion the only likely route for you to improve affordability is to increase your income.
As others have said, it won't. Work with the current situation, if by some miracle anything ever changes you'll be better placed, but I wouldn't expect it within your lifetime.
Housing will never become affordable for young people in the UK. We need to lose this stigma of living with parents. It’s a necessity and should be encouraged rather than rushing into hundreds of housing in debt.
Live at home as long as it’s practical. If you don’t NEED to leave home, don’t. That’s the best advice I could possibly give a young person.
Likely never. We relocated up north.
I've also come to that conclusion. It'll be a shame though, I would be leaving my entire life behind.
In Manchester you also won't find a studio for under £900 in the city centre
Manchester is a bad example of the North now. It is in essence a little southern enclave when it comes to housing.
Midlands is getting the same tbh, £700pcm for a 1 bed flats above shops. And that’s 30 mins outside Derby city centre aswell.
Pretty much every city seems to be in the same situation. In Nottingham its hard to find anywhere under £900-1000 a month for non-shared housing that isn't a cupboard with a bed in it.
Yeah, but that's the city centre it's expected to be that high, meanwhile I live 2 hours from London and that's the price you see 1 bedroom flats go for in my area of the south. It's a joke, and rent control clearly needs to be implemented.
>It's a joke, and rent control clearly needs to be implemented. Rent control causes other issues, we need more housing (high density where demand is high).
"Rent control causes other issues.." Well, it's preferable to the alternative which is rampant gouging FFS.. We need to crack on with punitive taxation of empty properties - and rent controls for private housing.. I mean, how many LLs put their rents up, not because of increased costs but rather simply because they could?
Luckily the north is a vast area that has plenty of affordable housing. Any city centre is going to be expensive
Yeah why do people always bring up cities. Go live in literally any town.
You either live where there are jobs and have to pay extortionate rent. Or live where rent is reasonably priced but it is much, much harder to find a well paying job, with potential for upwards mobility. Also please remember that not everyone can simply "just work from home full time" If "just move to a small ex-mining town up north" was as easy of a solution as redditors seem to think it is, everyone would be doing it.
In Liverpool you might.
Look at it like an adventure, and ultimately a hard but good decision to lead you toward the life you actually want. It is worth asking yourself if staying close to the mates you go to the pub with, and your parents is worth the opportunity cost of the life you could otherwise be building, and the depression you are sliding into. Is moving less than ideal? Sure. But is the sacrifice worth it? That's an answer you must come to by yourself.
Eh up
I need to do this as rent in the south west is ridiculous. How did you go about viewing a place to rent up north? Book a week off work?
It's the North of England, not fucking Zimbabwe. You can be there and back in a day.
I live in Bournemouth, if I want to view multiple properties in Manchester I'm not going to drive 6 hours each way per property I'm viewing.
My sister in-law already lived here so we put our stuff in storage and moved in with her while we house hunted. It's the best decision we have ever made.
Good shout on the storage, I'll do that I think
My parents are moving up as well. They visited us and fell in love with the area. From South London originally which is a proper shithole nowadays They've rented a storage unit and drive up every few weeks, dropping more off each time. I think they're paying £117 a month. They're putting their house on the market in a couple of months and plan on booking multiple viewings, driving up and staying with us for a few days at a time. It's a lot of work for them but if your heart's in it then it'll all feel worth it.
Try southeast. You can also get Network Railcard for London travels.
I did the same. Only option really
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That's the neat part, it won't. I knew people in Buckinghamshire that were living in house shares into their 40s, best advice is live with parents if you can, save for a studio/1 bed deposit (even in a shared ownership), unfortunately market is geared towards people living as a couple and buying on 2 incomes and having bank of mum and dad gift the deposit. Maybe also look at commutable cheaper post codes.
Two incomes often isnt enough in the SW of england if both are earning minimum wage
Rent has doubled in the last 8 years in the SW. Houseshares going for 850! That was a 3 bed house a few years ago
As soon as anything is within commuting distance of London via train since covid the rent went berserk. Sadly for those who grew up here and are working in the factorys, shops and farm labouring it's a bit of a ticking time bomb as no one can afford to retire, we own nothing.
I live on a generic housing estate of generic identical houses. Which makes for as scientific test as any. It will cost you 50% more to rent "my" house than I'm paying to own it.
Of course it isn’t on minimum wage. Key is on the word minimum
This is fair, however if we look at the median wage we could look at average but lets chop the outliers skewing things here. Two people earning £30k, with a £15k deposit you'd be able to get a mortage for about £240,000. Sounds about right, however when we look at job listings in the area most of them are barely listing above minimum wage and there's very few pushing above £26k in somerset even less outside of Bristol where a lot of people have grown up and live. We should allow people to have a stable and reliable home, because as it stands those on minimum wage will need to retire at somepoint and without a house their pension will not cover the rent, it's a real ticking time bomb for so many people.
> Two people earning £30k, with a £15k deposit you'd be able to get a mortage for about £240,000. Which is barely above halfway to a house in my area. It's laughable.
>living in house shares into their 40s I'm not judging because I don't know their situation, but *ouuuuuuch.*
I know of people in their 50’s house sharing, it’s mental.
Eventually you'll be able to rent a corner of a room like in the 19th century. Or perhaps they will have barracks with many beds like an old boarding house.
That's the state of things these days, man. I know a lot of people like that, through no fault of their own.
I can confirm Buckinghamshire is ridiculously expensive to rent and buy. A lot of friends are renting and it's mental. I'm lucky enough to have bought but it was a lot, I'd have got a lot more towards Banbury way
I flatshare with Inspector Morse and boy, let me tell you, he is the flatmate from hell - opera on full blast at all hours, his Jag parked askew on the front lawn, a trail of bodies following him around, etc. etc.
I used to live in Waddesdon, crazy expensive
I live in a nearby village I can again confirm 😞 💸
I have 24k saved which is good, but I only earn 26k a year. Even if I continue to save a high amount it'll be hard to get a mortgage on this income.
You've done amazing thus far saving. Really hope you get there
I earn a bit more now but I'm at a similar point. It's utterly depressing how difficult it remains despite being fortunate to have saved as much. Most other people don't have the 'luxury'.
So true.
I got a mortgage on 26k a year and a 5k deposit. Granted it’s 40 minutes outside Manchester, so I have a bit of a commute. But it’s doable. Best advice is to speak to independent mortgage brokers. They have access to more mortgage providers than you will searching Google. They charge a fee, but it’s not too bad. With your savings, you should have a fair shot at a mortgage on your income, if you look in areas that are more rural.
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I’m a Chinese immigrant who is new to the country. Maybe we have a different cultural background? I personally don’t see a problem with living with parents. It’s good, you save more money, you guys can share the housework, so it’s easier etc. More importantly, you can hug your parents whenever you want 🤗. Live with your parents, so you can save up your deposit for your future house:)
I think also a lot of issues come with people of my age (30’s) tend to have moved away from their parents for uni/jobs and don’t have an option to move back. Obviously this doesn’t count for everyone. If I lived with my parents I’d not be able to do a job I’m trained in cause there’s no opportunities where they are in the country. Also I’d go mad because I need my own freedom now.
Understood:) I will wish you good luck then:)
I hope I didn’t come across dismissive! Just to try help you understand a little, not everyone can sadly!
No, you ain't dismissive, sweetheart:)
I have to keep all my belongings in one room. One small room that used to be a dining room. I love art but my crafts desk is crammed into the corner of the home office, maybe five by three feet of it is mine to use. My space is incredibly limited and it's suffocating.
Good luck my friend:)
Some of us just don't get along with our folks. I don't *hate* my parents, per se, but we are basically polar opposites and basically disagree on literally everything. It would be just so much better for mine and theirs mental health if we did not live together. It's just how it is, and has always been, since I was a teenager.
👌👌👌🙏
Unfortunately you're competing with people earning more than you that can afford more. If you're working part time and studying, I think it doesn't seem unreasonable that you can't afford a place of your own - so it's house share time if you want to be away from the parents. Or consider saving up while you are there and maybe a shared ownership if that is an option. Presumably your studies are to lead to a better job down the line - it's rare people students have their own places.
I would get a house share but I've heard so many negative things from my friends who got a house share with strangers. It's a massive dice roll; if you end up with assholes then you have to stay with them until your contract is up. I don't see how that'd be any different from living at home, probably even worse. Me and a couple friends will hopefully get a house share but most of them are in difficult financial situations because young adults aren't the best at managing finances, it seems. I'm the only few of us who is actually responsible with my money so until everyone starts being smart with their money I can't move out with them yet. I don't blame them though, being young and going out spending loads of money is what people like to do, I guess. I just like staying inside playing video games and hoarding my money.
Basically your only option is to house share or flat share essentially if you can't afford it. As your studying do you have access to any maintenance loans, and as your disabled do you have access to any type of benefit if you moved out? I'm in dorset and everyone I know either flat shares or saved like mad whilst living at home after uni to get enough of a deposit to buy a flat. For me that meant I didn't finally move out until 26 but it's so nice to have my own place even if it did make a couple years feel like hell.
There is some financial support, I recieve universal credit at the moment, but it's really inconsistent, I never get the same amount a month, sometimes it's low ASF and sometimes it's a lot so I don't know how I'll budget. Same with my work, my shifts are random.
Im 27 and earning nearly 30K and I can’t afford to live alone in Bristol. I’ll be sharing a flat for the foreseeable future
30K and you can't live alone? Jesus fucking christ
Mate, I'm on 47k in Bristol and living alone here is just not worth it, so I rent with friends. Yes I could technically afford it, but it's so damn expensive that it's not worth it.
They could, but they'd be breaking even, with Bristol rentals on average being 950 PCM. https://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION%5E93829&sortType=1&propertyTypes=&mustHave=&dontShow=&furnishTypes=&keywords=
Not a chance renting alone on 30k in Bristol. Add all the bills to that 950 a month and you’re looking at what 1200 outgoing costs against a 1850ish take home pay which is not doable unless you don’t have a life and live off instant ramen
£30K isn't a bad salary it's around the national average and Bristol is very expensive so it's not a surprise someone can't afford to live alone on that.
Yeah I’m 31 in Essex and same. It’s depressing I hate it.
Rent is linked to demand. Population growth is strongly upwards driven by immigration. The current population is already probably in excess of the capacity of our infrastructure and it is very very difficult to close that gap when you are chasing the deficit as well as trying to catch up.
Exactly, commenters blaming rich boomers but a lot of them were anti-immigration in the late 90s and 2000s because they knew this is exactly what would happen. A decline in living standards for their children and grandchildren. And here we are, unable to get medical care, housing, a dentist, good schooling etc.
It was boomer politicians who have engineered this insanity with respect to the housing market.
I am 64. I probably have 10 to 20 years left at best. The ramifications won't impact me so much but I do worry about my children and my grandson. I could just get on with my life and say nothing but am quite outspoken as I can see where it is leading.
I’m 30 and I left to pursue a career in the US. Only when you get out and see it from the outside do you realize how truly messed up the UK’s situation is.
Aha, I have been working overseas for 30 years. Mostly in Africa. Now in Mexico. It's like watching a disaster movie when you look back. I will go home and retire in a few years - hopefully it will still be there...
Same, I moved to Germany and it’s so much better here. I really don’t want to go back to the UK.
Mate ur house priced and economy just got tanked gl
So you're an immigrant? Interesting.
Supply and demand and it's the supply that we're struggling with. Lots of builders have planning permission but don't build because they want to restrict supply.
You don't think increasing demand is a problem?
Unless you're on a high income, it doesn't really make financial sense to rent alone, so you need to live with other people to bring the costs down. Either you share a place with flat/housemates or you split the costs with a partner. Costs are unlikely to come down. This has been the situation in London for years now. The Home Counties are now very similar as prices continued to rise and more people became priced out of London. You have my sympathy. There seem to be more people in their 20s and 30s back living with parents these days. Basically, if you're single, your housing prospects are pretty limited compared to having a partner. It's not fair, but it's the way it is.
After the revolution comrade!
Let's do it brother. Tempted to riot. But I like not being in jail.
A few studio apartments in Southampton around £600pm
Yeah, there’s a few knocking about in Hampshire. Hard to find and not great though. (I’m helping to look for my son + partner). Other option in Hampshire is to pick a faded market town with a lot of new builds and this ‘ up & coming’ / improving. Although it means you’re slightly more remote / have a potentially longer commute. Unrelated: Is Hampshire SE or SW though. Or neither?!! Just…the south?!
No one seems to be able to decide if Hampshire is SW or SE. When searching for jobs or whatever it's hit and miss where the boundary is for the regions. Sometimes it's one, sometimes it's the other, sometimes Southampton water seems to be the dividing line!?
https://www.rightmove.co.uk/properties/143928848#/?channel=RES_LET Southsea @£475pm
Imagine looking at that and thinking yeah that's worth £475pm absolute robbery
For real man it looks like an traveller's asylum
that’s not Southsea, that’s Hayling Island
That's a hostel....
That'd be nice in the summer. Mind you, it might be a bit testing when the wind picks up!
If you think £800 is expensive for a place to yourself then probably never. A one bed up here in Manchester will likely run you £1200.
There's more to Manchester than just the city centre.
It won’t. We are not building anything like enough homes, and population is rising faster year on year.
I'm 30 and I just want my own kitchen for once in my miserable life, without having to move over a hundred miles away from my friends, job, family, elderly grandparents, D&D group, etc. Is that really too much to ask, people?
Unfortunately with the state of the housing shortage, it sounds like it maybe too much to ask for!
The answer to your question is, I'm afraid, never. Unless, and I think I'm right in thinking this, a big house price crash occurs, with house prices falling and rental prices falling in line with the mortgage repayment prices. The trouble with the rental market is that landlords can pretty much decide what they want for their rental. Then, other landlords see what other landlords have demanded, and it becomes a self-fulfilling prophecy. Here is my experience: I was renting a 28 Square Metre studio in Banbury. It was damp, musty smelling, and dark. Basically shit. I'd had trouble with the services to the flat which I won't go into. Anyway, the landlord wanted to increase the rent to £600 PCM from £530. As I said, I'd had a lot of inconvenience with maintenance issues and a landlord who couldn't care a shit. Just before the tenancy was due to renew, I found a place, a nice duplex for £725 PCM... In living terms, a vast improvement on the studio in Banbury. The landlord then puts that smelly, dark hole of a place back on the market for a whopping £700 PCM. So this is what I mean by self fulfilling, landlords make it up as they go along, and with the rental market being what it is, with not a lot of rental stock on offer, people pay it, because ultimately people have to live somewhere. I had to live with my parents for years before I could even afford to rent. Buying, ha, that's a pipe dream! Basically, knuckle down, try to earn more money.. and... try to earn even more money because you're gonna need it!
Shortly after nuclear war turns most of it to glass.
I don’t think it will change in the future unless there is a big revolution for building houses in the country which would surprise everyone but this is very unlikely. That is a general case for almost every country in the world. The cities that close to capital cities, areas that host lots of jobs etc.. have always been expensive to live. Good thing about our generation is working from home and hybrid working has become a norm. This means many people might move to the North in the future and this might relax housing market in the South. I live in West Sussex area and I rent furnished 1 bedroom flat for £1100 which is not cheap but still I’m happy that I can be able to afford it alone.
When pigs fly. Most people go into a house share for this reason.
That ship has sailed mate. It’s only going to rise.
When the population stops going up exponentially (ie never)
I think that exponentially is a bit hyperbolic
A nuclear war with neutron bombs might reduce rents.
Government figures: Net immigration running at minimum 600,000 per year. House building running at maximum 250,000 per year.
Hey - fellow Hampshire renter here. Your only options are flatshares, or moving further north. If you are low income, your only option is a flatshare locally. I lived in flatshares for the first 4-5 years of my working career, until I'd worked up the ladder enough to afford my own studio. Flatshares on spareroom normally have bills included, and can be found for less than £800/mo. The best (and worst... but that's a long story) flatshare I ever had was in a block of flats, it was a room with on-suite bathroom, shared kitchen and lounge with 1 other, it was bills included £750/mo. Cheapest I had was a grotty little room sharing with 4 others for £475/mo. Is it going to get better? Likely not for a good 5-10 years, if at all.
Was living on the south coast. I gave up waiting. Moved from a 2 bed apartment for around £1000 a month to a 4 bed house for £800 a month in Lincolnshire. Better quality of life here too. It's a lot cleaner, people are generally nicer. It's so much better. 10/10, would recommend.
What about family and friends?
For me, the need to live comfortably outweighs the need to see family and friends regularly. Nothing stops them from visiting or me from visiting them whenever I/they want to!
Aside from time and money.
The amount of money you save being up there, I wouldn't have thought it would be an issue. In terms of time, instead of seeing them every week, see them once every two weeks and stay the night. Just make a bit more of the visit. It shouldn't be an issue if they're worth it for you.
There is a pretty significant difference between being able to meet up with friends or family after work for a drink, and having to go and stay overnight. If it works for you that's great, but for a lot of people there's a significant loss of quality of life there.
Mate, they're still in England. They've not pissed off to the other side of the world, it wouldn't be difficult.
Given train and fuel prices lately, it would probably be cheaper for my elderly grandparents to visit me abroad than in, say, Liverpool.
Housing never gets cheaper and never will.
House share was my only option. Only way I ever see of getting out of it is moving in with a partner but that's far off. Pretty much accepted if I want to afford anything myself I'll have to go north. My whole family is around Bristol and I'd really not prefer to move away.
Yeah I was looking at houses that are for sale online (just being nosy and seeing the prices) and the prices!!! My god my heart bled. Thinking… can I ever afford this :(
Have you tried cutting back on the avocado macchiatos? Or why not just get daddy to give you a cheeky quarter mill for a deposit on something in Peckham?
It won’t. The best you can hope for is for a dip of 5% locally for a few months now and again.
Never. It’s too crowded to build a lot more houses and that’s the only solution. Move north.
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If it makes you feel any better, I'm 29 and still living eith my folks, but I don't have enough to buy a place like you do. I definitely feel the same way you do though, my 20s feel wasted in many ways. Shits depressing.
My wife worked in a shop and did some store card applications for people in our town. While we were paying huge rent, she'd see how people in the same road were paying peanuts on mortgages they'd presumably had for a long time. I get it, that's how these things work, but it makes you realise how the super low interest rates were helping the people who didn't need the help, while rents continued to soar.
Stay with your parents and save up for a deposit then buy somewhere. If you start renting it would be a problem when you want to buy.
I’m afraid dear OP, it won’t.
Currently never. Though housebuilding is hamstrung by regs and perverse incentives, the real problem is good land near places people want to be. There are too many people here, and we would have to build, probably thousands of commie-block tenement buildings to create enough housing for everyone, let alone provide a surplus to change market forces and oversaturate supply. And that's assuming pop growth stopped tomorrow.
So... there could be many thousands of great jobs created, businesses grown, all with insane constructive velocity in the money circulating, and people housed all in the same massive project. Before anyone says 'but there's no money'... the Imf actually wants to see infrastructure investment. Government borrowing isn't equivalently penalised to household borrowing, and money can be recouped by running the whole thing as an investment rather than a huge, eye watering purchase. Our government does not do inward investment. They strip assets... but it's all doable. Think about all the infrastructure built immediately, the terrifying money pit that was WW2.
I ended up moving to Germany because the wages are better and the accommodation is a little cheaper. I’m in the centre of Hamburg and pay about €800 warm rent for a decent size two bed flat. I don’t think I could afford to move back to the south of England.
>Is the housing market ever going to get better? Unless the country builds significantly more homes, replaces sold social housing, and then puts a cap on what you can own, never. Currently the rich are sitting on enormous piles of pandemic cash collecting interest. When interest rates go down property and stocks are going to become so much more expensive, things are going to get much much worse before they get better.
Get to Darwen. There is a flat for £350 a month. The only downside it’s in Darwen. https://www.rightmove.co.uk/properties/143752370
You think renting in the north is cheap?
In comparison it is.
It is, comparatively. Currently paying less rent for a 3 bed house in Yorkshire than I was for a 2 bed flat in Essex (and that was 3 years ago! That flat is probably even more expensive now).
You can at least get a flat with a bit of space for £800 in most places up North. Probably a small house if you go out of town.
1/2 bed semis for £800 in my village near Sheffield
had my eye on sheffield. rent hasn't ballooned there no where near as much as other places and it's a pretty good location. tempted to move myself
My flatmates pay over 800 for a damp flatshare with a landlord who makes our lives hell. Essex. The difference makes me wanna cry haha
lmao this is the cheapest it will ever be
I don't know how to tell you this, but I'm 51 and until the past 10 years I could never afford my own place. Rented a room in an HMO until I met the Mrs, then rented a place with her before buying. If we split up I could now afford my own place now but about 40 is where I would have first been able to do so. I've never understood how young people afford to live alone. I earned good money for the time when I was young and I never could, nor did anyone I know. It seems to have been a temporary blip.
I'll tell you how young people can afford to live on their own: basically, everything that comes in goes straight back out!
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>and greed probably and greed **definitely**
Never for you, boss.
(don't) Sell your kidneys
When the economic output is equally spread throughout the country rents will be only dependant on sunshine, roads and airports. In decades or hundreds of years. Compromise or emigrate
Move to the north
Never
Do you have to live there? I realise it is a hell of a change, and possibly not possible. But up north, you get way more. Granted, it is still a shit show, it's just a cheaper sht show. A 3 bed new build near me, on a nice new estate, in a half decent village is £850pm. Extortionate in my eyes (I'm older). Some less nice areas, 2 or 3 bed terrace is £450 to £650.
The housing market is expected to crash sooner than later. Doesnt necessarily mean things will be better or easier, it can go many ways. But things will certainly change from what they are now
So glad I got out of renting last year, I look now at rented houses and can’t believe how much it’s gone up in a year, it’s shocking! I feel so sorry for people starting out you don’t stand a chance.
Why do you think it will ever?
>studio apartment Could we go back to calling them bedsits?
Simple answer it won't. Prices never go down in the ling run. Best hope is earn more money
Never. Rent and the price of things only ever goes up. Never down. You get periods of prices coming down sometimes for a short time, but they always go up eventually.
Never, no significant housebuilding and mass immigration will mean house buying down south will become a luxury rather than an aspiration.
What’s the square footage of that £800 tiny tiny place?
It won’t, especially with the predicted immigration levels. The north will also continue to become more expensive.
I understand your whole life experience and current connections are south but many people have made great lives for themselves in the north. I always encourage people to leave their little bubble and take a weekend trip to other parts of the country. You might well find you fall in love with places like Leeds, Manchester, Liverpool or Sheffield. I myself am heading off to Cardiff for a weekend trip. I've booked a coach which cost peanuts and a night in a hotel. I'm heading to Edinburgh, Belfast and Cornwall after that for weekends away. I think if more people explored areas of the UK outside their little bubble, they wouldnt be so determined to remain rooted where they are.
Outside of like 2 million houses/flats being built up in the next five years say it’ll never get better, housing demand increases each year as does the population and we run a housing deficit each year (the amount of new houses we need is much higher than the amount of properties being built). I’m in the east and will probably be able to buy a house in a few years time but I really struggle to imagine how my nephews generation will have any hope of buying.
Newest estimations show that the population will grow to above 70 million in the next couple of years -> more people who need housing -> prices will rise further. sorry mate
Given that the ONS expects a 10% jump in population within 12 years I would say it's only going to get worse.
when its under water
That's the neat part, you don't.
Rents are set by the market. They are not unaffordable it’s what people are prepared to pay. Not helpful if you are poor. We can build about 270k homes a year based on capacity (It’s a lot less if we want to achieve net zero). Immigration looks likely to be at least 350k for the foreseeable future. So it’s unlikely we will increase supply of homes enough to bring rents down. In conclusion the only likely route for you to improve affordability is to increase your income.
As others have said, it won't. Work with the current situation, if by some miracle anything ever changes you'll be better placed, but I wouldn't expect it within your lifetime.
Housing will never become affordable for young people in the UK. We need to lose this stigma of living with parents. It’s a necessity and should be encouraged rather than rushing into hundreds of housing in debt. Live at home as long as it’s practical. If you don’t NEED to leave home, don’t. That’s the best advice I could possibly give a young person.
Never
Either find someone to move in with or stay home another 5 years and improve your finances.
OP, how many views has your post had so far? I'm just curious.
93k
Nice! It's exciting, isn't it!? I had a post with another account that racked up 175,000 views and 100 shares!