Homes just too costly for the young
PUBLISHED: 10:30 06 February 2008 | UPDATED: 22:06 26 October 2009
IF reading a story in last week s WHT about the sale of a £3m Welwyn home made you feel slightly queasy, you are not alone. Astronomical house prices across Times Territory mean that many potential first-time buyers can barely afford a Wendy House, let al
IF reading a story in last week's WHT about the sale of a £3m Welwyn home made you feel slightly queasy, you are not alone.
Astronomical house prices across Times Territory mean that many potential first-time buyers can barely afford a Wendy House, let alone a bona fide piece of real estate.
Latest figures show that an average income of £73,000 is required to buy an average house in Hertfordshire.
With case studies aplenty in Times Towers we pose the question; how hard is it to buy your first home?
Reporter and office pup Simon Wesson lives in WGC with his parents and believes that any chance moving out in the near future is remote.
"I can only see house prices getting higher," said the 19-year-old.
"Although I am happy where I am at the moment, attempting to buy around here is near impossible.
"The prices are extortionate and have been going up slowly and steadily such that I could soon be out-priced around here.
"If I ever buy, it will have to be with someone else."
Sports reporter Mark Hemmings bit the bullet and clambered onto the rickety housing ladder, but claims he would not have been able to afford to buy on his own.
The 27-year-old who bought a flat in Ware last year, said: "Me and my girlfriend had been renting for about five years and we were both in stable jobs, so we decided to take the plunge together.
"It's a bit more but we now have our own place so it is worth paying the extra for it if you have the money.
"Buying with friends if you know them well enough is not a bad idea.