Monday, March 10, 2014

Caveat emptor

Some thoroughly depressing news for a Monday morning, if you live in Oxfordshire and are a prospective first-time buyer: Oxford is officially the least affordable city in the UK.

The situation in Abingdon isn't quite so grim, though the property boom is taking grip here too. Our next-door neighbours put their house on the market and, on the first day they threw open their doors, had 14 viewings, of which eight resulted in firm offers. Having deliberately priced the house at £5,000 over the highest valuation from an estate agent, they were still stunned to discover that one of the bids was for an additional £5,000. It beggars belief that my parents bought the family home (then a four-bedroom house with a huge garden) at the age of 27, given that I'll be 37 this year and am still paying someone else's mortgage...

(Thanks to Adam for the link.)

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