[Closed] Where do all the people work?

One thing that I've noticed is developers seem to do well.
Buying a crummy house in a decent area and doing it up, until they end up with a really big pile in the country.

When I first moved south from Ayrshire to London/Surrey I thought the same thing. Now live in one of those areas albeit in a semi on a corner plot so much smaller garden therefore much cheaper. When we bought our place 2 years ago the house 2 doors along was up for double the price of ours.

Wife and I both work in the NHS and have done since graduation 15+ years ago. I look around the area when I get out for my 1 hour excersise a day and there are some fairly hefty houses with 100-200ft gardens and swimming pools aren’t uncommon. For an substantially extended 1930’s detached or a place thats been knocked down and rebuilt you are looking in the 1-1.5million region.

Occupations of friends/neighbours all in late 30’s when property bought

Property developer
IT consultant
Engineer
Senior manager in building company
Roofer
Electrician
Plumber
Builder

The people in the trades have small businesses and most of them have worked up from a smaller place that they extended and sold on.

The strangest one I heard was a guy with detached house on a big plot in zone 6, with the 2 range rovers and a house in Marbella and his business was doing mastik in new builds.

There is a lot of money out there, the rest of us just need to figure out how to get it....

But you’re arguing for a Volvo XC90

No I am not. I am merely making the point that some people like different things than other people and are prepared to spend more money than others would on such things be it bikes or cars (or holidays or first edition comic collecting or whatever).

Please can someone point to the North Yorkshire property for 50 to 100k?

I live in Richmondshire North Yorks and property is very expensive. Plenty cheap property in Durham but not in places you would probably want to live

Look at Leeds property values.. scary ex council houses in challenging areas start at £250k and need 50k to make them reasonable.

Chepa property is only ever available for 2 reasons..
1. No work available
2. Challenging area

I am merely making the point that some people like different things

Right, but without getting argumentative the whole premise of this discussion is that we're not talking about 'some people' - we're talking about hundreds of thousands of households across the entire South East of England.

Households that have 4 bed houses, middle of nowhere outside of London, two luxury vehicles on the drive, etc etc. It all costs money, where do/did they get it?

Please can someone point to the North Yorkshire property for 50 to 100k?

All these (beware, it pretty much means living in Middlesbrough or Selby)...

🙂

It all costs money, where do/did they get it?

I dunno - ask the next person you see riding an £8k push bike and ask them 😂

The big detached houses commutable to London, well chauffeurable I suppose, say coombe hill Kingston, have overperformed the mainstream market as executive pay has outperformed average pay.

I always look at the historic prices of nice houses as I am nosey...the big whoppers on coombe hill are now c5mn, they were c500-800k in the 90s as our md lived there. Saying that he was md of a ftse 100 so in terms of affordability i suspect its the same.

Remember though in the early 90s interest rates were 15%. I think the stamp duty now on 5mn is c400k.