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

Well in theory right now, if you were to make 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 right now!

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 residential properties are marketed.

The present ‘government’ idea of trying to get prices to reduce is by building many more housing units.
Unfortunately, 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 homes were to be 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-year stretch. You would be talking about building in excess of ten times the number of new units currently being built each and every year for at least the next ten years!

By deduction, instead of attempting to do the impossible it would be better to look at the current methods of marketing all residential properties and change that. This is the one thing that is highly inefficient, old fashioned and in need of wholesale improvement. It is the key to achieving the desired result – greater owner-occupation.

Reform the way privately owned residential properties or houses are bought and sold by making the process open, fair, and efficient. 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 currently stopping the majority of those whom wish to become 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.

Posted by: Peter Hendry, Housing Valuation Consultant.
Author of:– The House Price Virtuoso Solution

Despite the major economic indicators currently pointing downwards for house prices, inexplicably, they have still been rising recently!

We at improvethehousingmarket.co.uk have THE fix for this and we are going public with it.

The House Price Virtuoso Solution explains how to use cutting edge methods to bring house prices in England and Wales back to sound levels of affordability which are suitable, not only for those wishing to become first time buyers but to all other home owners too. Rents for residential properties also desperately need to be more competitively priced within the marketplace.

Anyone interested in seeing this outcome take shape in the owner-occupier housing sector may read about the necessary methods for bringing this about right here:

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

The cost of implementing this fundamental change would be low and perfectly feasible.

The objective of this new market-making concept is to allow all buyers to buy their next homes at prices which are truly affordable and within reach.

The difficulty at present is that practically unrestricted lending for house purchases is damaging the housing market and ruining the opportunity for many of those whom are ready to buy and ready to make their purchasing commitments.

The price problem needs addressing this year but the government are the ones to have to instigate these required changes and until they do they cannot be introduced for the benefit of the majority.

Besides helping in this respect The House Price Virtuoso Solution is also a way for those who have gained considerably from property price increases over the past 30 years or so, to pass some of this back to help those trying to climb onto the first rung of the property-owning ladder right now. The big win-win situation is, if everyone were to adopt this new policy, no-one would loose out financially.

Posted by: Peter Hendry, Housing Valuation Consultant
Author:– The House Price Virtuoso Solution

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