How much would you need to save a month to buy a house within 10 years?

It is true that if you made contributions of £200 a month into a stocks and shares Isa, (i.e. put aside earnings of £2,400 p.a.) and aimed for a realistic yearly return of 4pc after fees, you’d reach your goal of £40,000 in nine years.
If your partner did the same, this could be £80,000.

In addition, if house prices were to fall over the same period, you could suddenly find yourself well poised and ready to buy a comfortable place to start owner occupation in. Unfortunately, there are quite a few ‘ifs’ in this scenario!

The main obstacle to achieving this is house prices themselves which, even at the lower end of the house-ownership spectrum, are out of reach for a large number of hopeful owner occupiers. This obstacle could however be removed using relatively straightforward improvements in the way that privately owned properties are marketed.

The present ‘government’ idea of trying to get prices to reduce is by building many more housing units but this idea is fundamentally flawed. The reason is that the effect of doing it would be marginal on price. Why? Because unless upwards of 10% of the total number of currently built starter homes were constructed, little or no effect on house-prices themselves would be felt.

If you do the maths it becomes clear that it would be impossible to build enough, even over a full ten years. You would be talking about building in excess of ten times the number of new units currently being built each year for at least the next ten years!

By deduction, and please notice that however seemingly implausible it is, the right conclusion can only be that the current methods of marketing all properties is what needs to be changed. It is the one thing that is highly inefficient and old fashioned and improving that is the key to achieving the desired result.

Reform the way privately owned houses are bought and sold by making the process open, fair, and efficient because this is the key.

Doing this would bring the prices of starter homes back within the reach of first-time buyers and they would no longer have to borrow the eye-watering amounts that are currently stopping the majority of those whom wish to, from ever becoming owner-occupiers.

To find out how this could be done, please go to:

The House Price Virtuoso Solution: Full details of our proposals for properly reforming all housing markets in England and Wales.

Peter Hendry, Author:– The House Price Virtuoso Solution otherwise known as The Hendry Solution

The housing markets in England and Wales need structural reform

Government of the day would you please take note.

Structural/financial improvements are needed to be applied to all housing markets across England and Wales to avoid homelessness.

The responsibility to correct these ‘structural’ failures within our economy, which result in unacceptable hardship especially for those at the poorer end of the spectrum, should certainly not be placed solely at the door of the main opposition, or The Labour Party.

Considering that the problems have been largely the result of wrong Tory policy and Conservative thinking, it would seem to be more appropriate if the Conservatives should be the party to correct the anomalies.

Alternatively, of course, if the government should be undecided, unable or unwilling to put into effect the necessary adjustments to resolve the current housing crisis (and the resultant increased homelessness), The Labour Party would have a clear mandate to canvass for a majority on the basis that they would put into effect the correct remedies to cure the lengthening and deepening housing crisis if they should gain a majority at the next General Election.

This should be seen in the context that our national economy is otherwise one of the most successful economies on the planet.

It will be interesting to see which of the two main parties becomes the one to adopt and place into effect the necessary and urgently needed new policies and in doing so, win the support of the voting public once again.

Extra reading:
There was a great piece of journalism published by The Independent in August last year.
It explained that the crisis which we are currently seeing within the UK housing market is to do with polices put into place in the Thatcher era and later.
These anomalies cannot simply be wished away by trying to build thousands of privately owned and new social rented housing units.
The problem is a structural one not relating to the building of necessary houses but relating to the way the houses themselves are being both marketed and financed.

The title of the Independent article is:
Home ownership falls more in UK than any other EU country

The link to it is:
Aug 18 article in The Independent

For the complete solution to all of these issues, which could be achieved swiftly and economically, please go to:

The House Price Virtuoso Solution: Full details of our proposals for properly reforming all housing markets in England and Wales.

Peter Hendry, Author:– The House Price Virtuoso Solution otherwise known as The Hendry Solution

Rough sleeping, or badly maintained privately rented housing and just pay the unaffordable rents?

What a terrible choice!

There was a great piece of journalism published by The Independent in August 2018 about the dilemma faced by rough sleepers.

It explained that the crisis which we were seeing within the UK housing market the was largely to do with polices put into place in the Thatcher era and later.

These anomalies cannot simply be wished away by trying to build thousands of privately owned and new social rented housing units.
The problem is a structural one, not relating to the building of more houses but relating to the way houses themselves are being marketed and financed.

The title of the article is:
Home ownership falls more in UK than any other EU country

The link to it is:

Aug 18 article in The Independent

I’m explaining in my proposed solution it’s no use hurriedly trying to build many more social housing or private properties for rent so that these may be provided to those in desperate need. The time needed for that is simply not there even if the amount to be charged for such accommodation could be made truly affordable.

The apparently sane alternative, which is quick build privately rented accommodation, would also be too expensive for those in need, because of the shortage of houses across the whole marketplace irrespective of how many new properties were able to be constructed.

Providing housing is in a crisis because of the policies of past governments and that is why private landlords need to be encouraged to provide good quality accommodation at reasonable rents; not discouraged with more and increasingly onerous tenant-centric legislation!

Secondly, those eventually stepping up from privately rented accommodation to become property owners themselves, i.e. first-time buyers, ought to be able to purchase at properly affordable prices to them.

This simply isn’t happening at the present time. The reason is: All housing markets across England and Wales have all the prices skewed upwards because of the banking and finance interests in lending each individual the sort of money they (the lending institutions) want to have to provide.

It’s time this gross over lending issue was finally confronted. This would, of course, mean confronting the lending institutions themselves!!
The precise way to do this is set out clearly in:
The House Price Virtuoso Solution.

For the complete solution to all of these issues, which could be achieved swiftly and economically, please go to:

The House Price Virtuoso Solution: Full details of our proposals for properly reforming all housing markets in England and Wales.

Peter Hendry, Author:– The House Price Virtuoso Solution otherwise known as The Hendry Solution