Wow I recently brought and moved out of a 3 bed terraced I rented for £525 a month and that's the most I've ever paid to rent a house. Paid £270k for a 4 bed semi detached with a 20m long garage/workshop The joys of living in an ex mining town in Nottinghamshire 😅
I'm currently looking to buy in the area and prices for decent sized homes start at around £150K. A 4 bed in Chesterfield recently went for £155K and it was in a nice area.
UK housing is cramped,partly because of excess walls and closed doorways, The typical row house has a long,narrow entry hallway,narrow stairway.The hallway leads to a small kitchen in the back of the house.There's usually a small,very standard yard in back. On the right are doorways leading to small,standard living rooms with a fireplace. Much of the housing is moldy and not energy efficient.(de humidifiers are needed) US houses have open door frames leading to larger living rooms.and dining rooms.Theres's lots more light flowing into the houses. Perhaps devotion to and pride in William the Conqueror and other relics has distracted from the need for updating.There are situations,more in schools and public buildings but also in some housing where the old bricks are crumbling or in danger of doing so. Some people in UK have taken it upon themselves to update their houses but,for the most part it's attached,row,cramped and lacking in energy efficiency.
And….they tend not to be the “wind and storm proofed” during the hurricane seasons! - mind you, saying that…. The recent rain storms have caused serious problems for people in GB 😰🙁
@@Cornz38 What are you talking about? I'm talking about the price of wood in America, which is why American houses are cheaper to build than UK brick houses. Do you have reading comprehension issues?
In the UK it very much depends on location. If you have to drive 10 miles to the local shops each time then you can see that living in such a place has big drawbacks and you pay for that over time in your time and your travel costs.
It is very far from that simple. Isolated homes with no local ammenities but are close enough to a mainline railway station can cost a mint. I have lived in Devon and property prices can be horrendous, even with little to no local well-paid work. Plenty of wealthy people move there, some even work in London but park the wife, two daughters and three horses in Devon and "visit" Friday night to Monday morning. Property has got to be very inaccessible with little local employment, or just downright undesirable, before it is cheap.
@@birdmanfree1651 Devon is a lovely place and has very nice beaches. I had many family holidays there. I think what you are experiencing is the second home purchases are pushing up local prices. Cornwall is even nicer so suffers even greater problems of local unavoidability. The tin mines and china clay were good earners at one time, but now it is mostly servant work changing sheets on hotel beds and catering. Mind you living next to a railway station is not as it used to be. The train service in the UK is abysmal.
@@Andrew-rc3vh When I lived and worked there, it was second and first homes. For instance, one lad that I worked with, his father had been a saturation diver on the North Sea rigs and when he quit that he bought a huge place over-looking the bay in Paignton. When I moved out, I sold my place to a retiree who had sold his business in Manchester. Local youngsters routinely bought retirement bungalows simply because that was all that they could afford - far too many had been built for the demand. Lots of families have fathers living in B&B or a flat in London Monday-Friday. I am from E Anglia, and the main line into Liverpool St picked up loads of comuters well up into Suffolk, and some in Norfolk. I now live not a huge distance from Stamford (WAY too far to commute), which is horrendously expensive, and also has loads of commuters.
@@birdmanfree1651 The thing is, in general, houses are more expensive in the UK than practically anywhere in the world. You start to see a pattern in the UK eventually as you discover a lot of things are sold here for more than practically anywhere in the world. Electricity and petrol are another two that come to mind. We have higher wages for one thing, also interest rates were too low and building new houses is fraught with restrictions and costly regulations. The huge amount of immigration has outstripped the speed of building new homes. All in all we are very poorly managed, but for a cheap home in the UK they are practically giving them away in some places up north, like Blackpool or other towns north of Manchester or in the North East. The main reason is the area is completely lawless and the properties are all smashed up. This factors into the location issue and who you want as your neighbours.
@@Andrew-rc3vh No Food is cheap here in the UK, housing is driven to heights because buying rather than renting has become the norm and people clammer to out-bid others at all costs - if they could not borrow the money, they could not spend it (on housing). Take a look at property prices in places like Japan. Australia's cost of living is also horrendous. Things like booze and petrol are expensive in the UK due to tax and duty. Housing is in short supply in the UK due to vast numbers of single-person households, it has absolutely nothing to do with immigration.
A couple of years after I left university, with a little financial help from my parents as a deposit (£5000), I was able to buy a modern purpose built studio flat in West London (not in the best postcode) It cost me £36,000. I have just found a listing for an identicl flat in the same block for £260,000. When I bought my flat it cost about 5 x my annual salary. For someone in the same position now to buy the same flat, it would cost 8 x their salary. No wonder we have a housing crisis!
In the US currently there is a historic shortage of houses available for sale. That's why prices have shot up so fast and so high. Market forces dictate that more demand, less supply, equals high price. After WW11 when all the service men came home and married there was a shortage of homes to meet the need. So the government implemented several programs to underwrite development of huge housing tracts to quickly deliver a large supply of houses at affordable prices. It worked very well and millions of families were able to buy a little starter home. That's what we need to do again. Right now there are millions of young people ready to buy a house, but prices have skyrocketed because of low supply due to the effects of Covid. Lumber and other building materials were not produced in time. So most young people can't afford to buy. We need for the US government to once again promote home ownership with the same post war programs that worked so well in the past.
Hi Tessa. We have similar problems to the UK over here in Ireland. Younger families are really under pressure, but if you have a plot of land building your own is still affordable. Love your channel Tessa.
I’m suffering from buyers remorse after only a year in my home in Georgia when I had really wanted to come to England for an extended visit to consider moving there with a dream to live on old family property. Then I saw what I could afford to buy would make a very small farm!
@@HipOverFifty I’m finding a wide range of prices that look dependent on location as usual so there is a possibility I’ll just have to wait for the right property to come along. I may have to consider selling now to be ready if the opportunity arises and maybe find a temp rental arrangement in the meantime…
Tessa, In a future episode, can you discuss what costs buyers should expect during the closing process on a home? My wife & I have learned a lot from your videos, as we are planning to move there in about two years time, and are hoping you will still be offering consultation services through your website to help us ease the move.
UK house price rises have been driven by low interest rates, which have encouraged buyers to beg for higher mortgage:earnings ratio loans to buy property. The past decade or so will have altered the number slightly, but long term, going back 100 years or so, interest rates have averaged around 9%. When I bought my first house in the early 1980's, the absolute maximum that a couple could borrow was twice the larger salary plus half the lower salary, and to get that multiple would mean hunting around and probably paying around 1 percent above the usual rate. Anyone in the UK who has had a mortgage and is over something like 45 years old will have paid 14-15-16% interest on a mortgage for some period of time. I lived with a mortgage with repayments that peaked at more than my take-home pay. We were BROKE. Bottom line - you cannot buy at a price that you cannot borrow to cover. The average UK slary now is around £30K. Go back to the lending ratio that was normal until recent years and a couple , both on average wage, could borrow no more than £75K.
Before anyone feels toio sorry for people paying mortgages off in the 70s and 80s remember 70s and 80s wage rises took a lot of sting out of it... More recently many people have seen their wages going sideways for a decade plus
You get F**k all for your money in most places in the UK. Even in the rougher neighbourhoods in major UK cities the rent is becoming really high. Unless you want to live in some post industrial towns in the north of England like Burnley, Blackburn , Sunderland or Middlesbrough, you will pay an absolute fortune!
Derpends entirely where you live in the UK. My 2 up 2 down in the NW uk, with 2 gardens and drive you can park a cruise ship on was 105k in 2020 right before the plandemic, ok, 25k renovating but still affordable.
My own flat is bigger and up to £50K cheaper than smaller more modern builds in the area just because it's old, late 1960s. A few years ago I was looking at moving into a house, and a friend of mine in the building trade advised me NOT to buy anything built since 1990. In my area hundreds of new homes have been thrown up very quickly and I've watched them being built. Small "master" bedrooms big enough for a double bed and not much more, tiny gardens and very limited parking. Interior walls are all hollow plasterboard where there are interior walls and very limited loft space unsuitable for conversion. As for selling price, at £220,000 and around 6 times the national average wage it is affordable, and I know people who have gone for 40 year mortgages so it is doable. BTW central London is only 16 miles away and 20 minutes by train.
You can have houses and suburbs with houses as large as you like in the UK, especially in the suburbs of London and Cheshire just to name a couple. The issue is, most people that look at this issues are, how can i put this?... poorer than the upper-middle class of England. 30 miles or more of suburban detached mansions southwest of Heathrow would make Americans feel right at home. you just have to PAY FOR IT!
brit // prices are a bit mad here /////// england is smaller than people think one third size of texas / france is 3 x bigger with same population ----- some lovely places some very very bad areas not dangerous just run down poor nasty .... /// ----- live france now ..... lived UK forty years /// TIP ...... you can get a bargain at property auctions ---- but do your homework and get advice /// ........ or find a nice area then look at up and coming area -- cotswold lovely expensive but nearby is half price for much the same ... good review accurate analysis .................. tick
The quality of housing is the US are the worst in the developed world . I used to live in Shelby County, Missouri, plenty of very rundown houses metal sidings and timber frames, a real eye opener.
Wow I recently brought and moved out of a 3 bed terraced I rented for £525 a month and that's the most I've ever paid to rent a house.
Paid £270k for a 4 bed semi detached with a 20m long garage/workshop
The joys of living in an ex mining town in Nottinghamshire 😅
The good life!
I'm currently looking to buy in the area and prices for decent sized homes start at around £150K. A 4 bed in Chesterfield recently went for £155K and it was in a nice area.
UK housing is cramped,partly because of excess walls and closed doorways,
The typical row house has a long,narrow entry hallway,narrow stairway.The hallway leads to a small kitchen in the back of the house.There's usually a small,very standard yard in back.
On the right are doorways leading to small,standard living rooms with a fireplace.
Much of the housing is moldy and not energy efficient.(de humidifiers are needed)
US houses have open door frames leading to larger living rooms.and dining rooms.Theres's lots more light flowing into the houses.
Perhaps devotion to and pride in William the Conqueror and other relics has distracted from the need for updating.There are situations,more in schools and public buildings but also in some housing where the old bricks are crumbling or in danger of doing so.
Some people in UK have taken it upon themselves to update their houses but,for the most part it's attached,row,cramped and lacking in energy efficiency.
Don't forget, most new homes in the U.S are built from wood, which is clearly cheaper than brick.
And….they tend not to be the “wind and storm proofed” during the hurricane seasons! - mind you, saying that…. The recent rain storms have caused serious problems for people in GB 😰🙁
Trying to work out if you're being sarcastic. The price of wood in the UK is astronomical at the moment. WAY more expensive than brick...
@@Cornz38 I think the OP is suggesting that it’s the wood in the USA that is cheaper than bricks 🤷
@@Cornz38 What are you talking about? I'm talking about the price of wood in America, which is why American houses are cheaper to build than UK brick houses. Do you have reading comprehension issues?
The US just has so much more space and that’s really what this is all about because our house prices are so close to each other
I'd rathervlive in a cramped old house in England, than a high-rise slum. Trailer ,or a wooden shack in america
In the UK it very much depends on location. If you have to drive 10 miles to the local shops each time then you can see that living in such a place has big drawbacks and you pay for that over time in your time and your travel costs.
It is very far from that simple. Isolated homes with no local ammenities but are close enough to a mainline railway station can cost a mint.
I have lived in Devon and property prices can be horrendous, even with little to no local well-paid work. Plenty of wealthy people move there, some even work in London but park the wife, two daughters and three horses in Devon and "visit" Friday night to Monday morning.
Property has got to be very inaccessible with little local employment, or just downright undesirable, before it is cheap.
@@birdmanfree1651 Devon is a lovely place and has very nice beaches. I had many family holidays there. I think what you are experiencing is the second home purchases are pushing up local prices. Cornwall is even nicer so suffers even greater problems of local unavoidability. The tin mines and china clay were good earners at one time, but now it is mostly servant work changing sheets on hotel beds and catering. Mind you living next to a railway station is not as it used to be. The train service in the UK is abysmal.
@@Andrew-rc3vh When I lived and worked there, it was second and first homes. For instance, one lad that I worked with, his father had been a saturation diver on the North Sea rigs and when he quit that he bought a huge place over-looking the bay in Paignton.
When I moved out, I sold my place to a retiree who had sold his business in Manchester.
Local youngsters routinely bought retirement bungalows simply because that was all that they could afford - far too many had been built for the demand.
Lots of families have fathers living in B&B or a flat in London Monday-Friday.
I am from E Anglia, and the main line into Liverpool St picked up loads of comuters well up into Suffolk, and some in Norfolk. I now live not a huge distance from Stamford (WAY too far to commute), which is horrendously expensive, and also has loads of commuters.
@@birdmanfree1651 The thing is, in general, houses are more expensive in the UK than practically anywhere in the world. You start to see a pattern in the UK eventually as you discover a lot of things are sold here for more than practically anywhere in the world. Electricity and petrol are another two that come to mind. We have higher wages for one thing, also interest rates were too low and building new houses is fraught with restrictions and costly regulations. The huge amount of immigration has outstripped the speed of building new homes. All in all we are very poorly managed, but for a cheap home in the UK they are practically giving them away in some places up north, like Blackpool or other towns north of Manchester or in the North East. The main reason is the area is completely lawless and the properties are all smashed up. This factors into the location issue and who you want as your neighbours.
@@Andrew-rc3vh No
Food is cheap here in the UK, housing is driven to heights because buying rather than renting has become the norm and people clammer to out-bid others at all costs - if they could not borrow the money, they could not spend it (on housing). Take a look at property prices in places like Japan. Australia's cost of living is also horrendous.
Things like booze and petrol are expensive in the UK due to tax and duty.
Housing is in short supply in the UK due to vast numbers of single-person households, it has absolutely nothing to do with immigration.
A couple of years after I left university, with a little financial help from my parents as a deposit (£5000), I was able to buy a modern purpose built studio flat in West London (not in the best postcode) It cost me £36,000. I have just found a listing for an identicl flat in the same block for £260,000. When I bought my flat it cost about 5 x my annual salary. For someone in the same position now to buy the same flat, it would cost 8 x their salary. No wonder we have a housing crisis!
Thanks for sharing!
Government needs to step in with home building programs to help get a supply of homes available. In UK as well as US!
PROGRAMMES
There are houses being built all over the country.
In the US currently there is a historic shortage of houses available for sale. That's why prices have shot up so fast and so high. Market forces dictate that more demand, less supply, equals high price. After WW11 when all the service men came home and married there was a shortage of homes to meet the need. So the government implemented several programs to underwrite development of huge housing tracts to quickly deliver a large supply of houses at affordable prices. It worked very well and millions of families were able to buy a little starter home. That's what we need to do again. Right now there are millions of young people ready to buy a house, but prices have skyrocketed because of low supply due to the effects of Covid. Lumber and other building materials were not produced in time. So most young people can't afford to buy. We need for the US government to once again promote home ownership with the same post war programs that worked so well in the past.
Hi Tessa. We have similar problems to the UK over here in Ireland. Younger families are really under pressure, but if you have a plot of land building your own is still affordable. Love your channel Tessa.
I think everybody’s feeling the pinch. Thank you for sharing and thank you for your kind words.
I’m suffering from buyers remorse after only a year in my home in Georgia when I had really wanted to come to England for an extended visit to consider moving there with a dream to live on old family property.
Then I saw what I could afford to buy would make a very small farm!
Tough decisions we do the best we can. Hopefully you can still come over and realize your dream.
@@HipOverFifty I’m finding a wide range of prices that look dependent on location as usual so there is a possibility I’ll just have to wait for the right property to come along. I may have to consider selling now to be ready if the opportunity arises and maybe find a temp rental arrangement in the meantime…
@@papayne sometimes it can be a bit of a Jenga situation, but I always believe in following your heart/gut!
Tessa, In a future episode, can you discuss what costs buyers should expect during the closing process on a home?
My wife & I have learned a lot from your videos, as we are planning to move there in about two years time, and are hoping you will still be offering consultation services through your website to help us ease the move.
Thank you for letting me know my videos are helpful. I did do one video on buying a house but I’m planning to do more, so stay tuned!
UK house price rises have been driven by low interest rates, which have encouraged buyers to beg for higher mortgage:earnings ratio loans to buy property.
The past decade or so will have altered the number slightly, but long term, going back 100 years or so, interest rates have averaged around 9%.
When I bought my first house in the early 1980's, the absolute maximum that a couple could borrow was twice the larger salary plus half the lower salary, and to get that multiple would mean hunting around and probably paying around 1 percent above the usual rate.
Anyone in the UK who has had a mortgage and is over something like 45 years old will have paid 14-15-16% interest on a mortgage for some period of time. I lived with a mortgage with repayments that peaked at more than my take-home pay. We were BROKE.
Bottom line - you cannot buy at a price that you cannot borrow to cover.
The average UK slary now is around £30K. Go back to the lending ratio that was normal until recent years and a couple , both on average wage, could borrow no more than £75K.
Before anyone feels toio sorry for people paying mortgages off in the 70s and 80s remember 70s and 80s wage rises took a lot of sting out of it... More recently many people have seen their wages going sideways for a decade plus
Very valid points- how did we ever survive the high interest of the 80s
Land mass of America,Canada, compared to the UK.
If I remember correctly, the UK is about the size of Louisiana. (But with a lot more people!)
There are plenty of 20th Century And 21st Century homes in Britain! My house is 18 years old.
You get F**k all for your money in most places in the UK. Even in the rougher neighbourhoods in major UK cities the rent is becoming really high. Unless you want to live in some post industrial towns in the north of England like Burnley, Blackburn , Sunderland or Middlesbrough, you will pay an absolute fortune!
Derpends entirely where you live in the UK. My 2 up 2 down in the NW uk, with 2 gardens and drive you can park a cruise ship on was 105k in 2020 right before the plandemic, ok, 25k renovating but still affordable.
Yes it does, the north seems much more affordable than the south!
Hahaha, "plandemic" 😂😂 do you also think the earth is flat? I bet you do 😂😂
My own flat is bigger and up to £50K cheaper than smaller more modern builds in the area just because it's old, late 1960s. A few years ago I was looking at moving into a house, and a friend of mine in the building trade advised me NOT to buy anything built since 1990. In my area hundreds of new homes have been thrown up very quickly and I've watched them being built. Small "master" bedrooms big enough for a double bed and not much more, tiny gardens and very limited parking. Interior walls are all hollow plasterboard where there are interior walls and very limited loft space unsuitable for conversion. As for selling price, at £220,000 and around 6 times the national average wage it is affordable, and I know people who have gone for 40 year mortgages so it is doable. BTW central London is only 16 miles away and 20 minutes by train.
Well done. I agree that new construction isn’t a patch on the old!
You can have houses and suburbs with houses as large as you like in the UK, especially in the suburbs of London and Cheshire just to name a couple. The issue is, most people that look at this issues are, how can i put this?... poorer than the upper-middle class of England. 30 miles or more of suburban detached mansions southwest of Heathrow would make Americans feel right at home. you just have to PAY FOR IT!
Agreed but that’s true of both countries! That’s why I talk about thr averages 🤗
brit // prices are a bit mad here /////// england is smaller than people think one third size of texas / france is 3 x bigger with same population ----- some lovely places some very very bad areas not dangerous just run down poor nasty .... /// ----- live france now ..... lived UK forty years /// TIP ...... you can get a bargain at property auctions ---- but do your homework and get advice /// ........ or find a nice area then look at up and coming area -- cotswold lovely expensive but nearby is half price for much the same ... good review accurate analysis .................. tick
Thanks for the input!
The quality of housing is the US are the worst in the developed world .
I used to live in Shelby County, Missouri, plenty of very rundown houses metal sidings and timber frames, a real eye opener.
BIG HOUSES AND CARS USE FAR TOO MUCH POWER, WASTING A LOT, NO CONSERVATION MEANING WE WILL TEACH DOOMSDAY QUICKER LOO
Your keyboard appears to be broken, everything is in capitals and makes no sense. SIr.
Always a good idea to get therapy when you suffer from a mental illness