Are today’s house prices unaffordable?
Here is an interesting piece about bungalows – now forming only about 1% of all new housing stock, despite their popularity with an ageing population.
The piece, from the BBC, features a black and white photo of a sign advertising freehold semi-detached bungalows for sale in Essex in 1937 priced at £565 to £675.
The average wage then was about £200 – so for less than three times your annual wage, you could buy a nice new home.
On that basis, one of those bungalows should be worth about £80,000 today.
We turned up a two-bed semi-detached bungalow in Chadwell Heath near Romford, Essex, listed on Rightmove at £400,000.
The national average salary is currently about £27,200.
Meanwhile, talking about bungalows and prices, the one below listed by Purplebricks on Rightmove was on the pricey side at £239,950,000, as you can see. Yesterday, the figure suddenly came down by a few million after someone spotted that the curse of the fat finger had struck again.
Comments (3)
If it’s on with PB then good luck to the vendor, they gonna need it.
any hoo!
I find bungalows hard to shift for the following reasons.
A: Wrinklies like em, but they don’t want to drive or walk too far and Bungies are nearly always a bit further out of town.
B: They’re too small for normal families.
C: They are on the whole UGLY
D: Cos they are for people with nothing upstairs (like Bill)
Attention to detail.
Probably some poor kid with little education straight out of school on an apprenticeship working 40 hours a week for a hundred and twenty quid. Been tasked with “Preparing details” with little training.
Just who i want selling my house ……
Purple bricks have done that so they can later on portal juggle the price down so they can achieve 100% of last asked price.