Is Golf now too expensive???

[Voyager EMH]

I too bought my first property in 1987…small two bed flat in central Bristol. Cost me £35,000 which was almost exactly 3 x my salary (~£10.5k) plus 10%. Perfect for the single and newly qualified professional systems engineer. And I could afford my golf club membership quite easy back then - though when interest rates hit 15% things weren’t so straightforward (but I’d saved enough to cope).

It was last sold in 2017 for £270,000 and now estimated £325,000 - £397,000 (for a titchy 2 bed flat). What would the me of today have to earn and have saved to buy that little flat. Doubt I’d be able to afford to also join a golf club, never mind play an ‘open’ course.

For me it seems to be that it’s UK housing costs that have made so much unaffordable.

The nail has been hit well and truly on the bonce.

 

[timd77]

I too bought my first property in 1987…small two bed flat in central Bristol. Cost me £35,000 which was almost exactly 3 x my salary (~£10.5k) plus 10%. Perfect for the single and newly qualified professional systems engineer. And I could afford my golf club membership quite easy back then - though when interest rates hit 15% things weren’t so straightforward (but I’d saved enough to cope).

It was last sold in 2017 for £270,000 and now estimated £325,000 - £397,000 (for a titchy 2 bed flat). What would the me of today have to earn and have saved to buy that little flat. Doubt I’d be able to afford to also join a golf club, never mind play an ‘open’ course.

For me it seems to be that it’s UK housing costs that have made so much unaffordable.

I’d say that house prices remained fairly constant in relation to income until 8-10 years ago. Around here, in the late 90s/early 2000s, 50-60k got you a decent starter home, 2-3 beds etc. By 2010 they’d crept up to around 80-90k, still pretty reasonable. We bought ours for 84k in 2011, looked into selling in 2019 for 150k. 3-4 years later it’s now worth 220-230k. Absolutely daft. The price increase over the last 3 years due to covid has been unbelievable. Seems that’s about to burst though and can’t come soon enough in my opinion, crazy money being asked for the ‘next step’ on the property ladder, not to mention those trying to get on it can’t afford to.

 

[Swango1980]

I’d say that house prices remained fairly constant in relation to income until 8-10 years ago. Around here, in the late 90s/early 2000s, 50-60k got you a decent starter home, 2-3 beds etc. By 2010 they’d crept up to around 80-90k, still pretty reasonable. We bought ours for 84k in 2011, looked into selling in 2019 for 150k. 3-4 years later it’s now worth 220-230k. Absolutely daft. The price increase over the last 3 years due to covid has been unbelievable. Seems that’s about to burst though and can’t come soon enough in my opinion, crazy money being asked for the ‘next step’ on the property ladder, not to mention those trying to get on it can’t afford to.

I know this has taken a tangent from golf, but an interesting discussion for me. Despite being happy enough in my place, I'm thinking it would be a good investment to upgrade to a better property at some point. But, with such a massive increase in property prices in the last few years, I've felt at some point they'll come crashing down. Furthermore, with interest rates shooting up, I felt that could be the straw that broke the camels back (not that I really know anything about the property market). So, feeling that timing is everything, if I make the decision to get a new place. Key, of course, is that is doesn't impact my ability to pay golf membership, green fees and golf open fees of course.

 

[clubchamp98]

I know this has taken a tangent from golf, but an interesting discussion for me. Despite being happy enough in my place, I'm thinking it would be a good investment to upgrade to a better property at some point. But, with such a massive increase in property prices in the last few years, I've felt at some point they'll come crashing down. Furthermore, with interest rates shooting up, I felt that could be the straw that broke the camels back (not that I really know anything about the property market). So, feeling that timing is everything, if I make the decision to get a new place. Key, of course, is that is doesn't impact my ability to pay golf membership, green fees and golf open fees of course.

Total opposite for me .
kids have gone now so need a smaller place.
Nearer the club would be nice.
but HID dosnt want to move.

 

[Deleted member 25575]

It’s really tough and burst in the property bubble will be good for first time buyers looking to get on the property ladder, but really harmful to those who have in the last year or 2 brought a new house.
As with everything there are winners and losers

 

[evemccc]

Can we get this back on golf please?

 

[Deleted member 29109]

It’s really tough and burst in the property bubble will be good for first time buyers looking to get on the property ladder, but really harmful to those who have in the last year or 2 brought a new house.
As with everything there are winners and losers

And anyone looking to downsize, or move, or use the equity as a pension or give their kids it as inheritance.

If house prices drop significantly, being able to buy a new driver or a green fee will be the last thing many people will be worried about.

 

[GB72]

And anyone looking to downsize, or move, or use the equity as a pension or give their kids it as inheritance.

If house prices drop significantly, being able to buy a new driver or a green fee will be the last thing many people will be worried about.

This is it, sadly many of those calling for house prices to plummet etc probably do not rember the nightmare of negative equity in the 1990s etc (as well as the double figure mortgage interests rates).

Luckily mortgage interest rates are dropping now and the market is levelling out with most now predicting a soft landing for the housing market rather than the 20% drops some were forecasting.

 

[Kennysarmy]

I too bought my first property in 1987…small two bed flat in central Bristol. Cost me £35,000 which was almost exactly 3 x my salary (~£10.5k) plus 10%. Perfect for the single and newly qualified professional systems engineer. And I could afford my golf club membership quite easy back then - though when interest rates hit 15% things weren’t so straightforward (but I’d saved enough to cope).

It was last sold in 2017 for £270,000 and now estimated £325,000 - £397,000 (for a titchy 2 bed flat). What would the me of today have to earn and have saved to buy that little flat. Doubt I’d be able to afford to also join a golf club, never mind play an ‘open’ course.

For me it seems to be that it’s UK housing costs that have made so much unaffordable.

https://www.economicshelp.org/blog/5568/housing/uk-house-price-affordability/

 

[Backsticks]

The young today would be better able to afford houses if they used their grandfathers clubs to learn the game like we did instead of going to a 'fitter', didnt change driver every year to keep up with the 'tech', and didnt need to buy both pink and rainbow versions of the Autoflex shaft at 500 a pop in case they would be offending one minority by favouring one colour over the other.

 

[r0wly86]

The young today would be better able to afford houses if they used their grandfathers clubs to learn the game like we did instead of going to a 'fitter', didnt change driver every year to keep up with the 'tech', and didnt need to buy both pink and rainbow versions of the Autoflex shaft at 500 a pop in case they would be offending one minority by favouring one colour over the other.

don't be silly, we can't afford new clubs because of all the avocado on toast we eat

 

[Voyager EMH]

don't be silly, we can't afford new clubs because of all the avocado on toast we eat

Domestic fuel alert: You could save a lot of money by not toasting the bread.

 

[Deleted member 29109]

Domestic fuel alert: You could save a lot of money by not toasting the bread.

You don’t think we make it ourselves do you? We’ve got to be seen eating at an artisan cafe. It’s better for the insta likes. ?

 

[Voyager EMH]

You don’t think we make it ourselves do you? We’ve got to be seen eating at an artisan cafe. It’s better for the insta likes. ?

Oh my Lord, how very very plebeian.

 

[SwingsitlikeHogan]

I know this has taken a tangent from golf, but an interesting discussion for me. Despite being happy enough in my place, I'm thinking it would be a good investment to upgrade to a better property at some point. But, with such a massive increase in property prices in the last few years, I've felt at some point they'll come crashing down. Furthermore, with interest rates shooting up, I felt that could be the straw that broke the camels back (not that I really know anything about the property market). So, feeling that timing is everything, if I make the decision to get a new place. Key, of course, is that is doesn't impact my ability to pay golf membership, green fees and golf open fees of course.

It is a tangent, but one that I believe is relevant to the affordability of green fees for top courses.

I pay for ad hoc green fees out of disposable income - and if my disposable income is being clobbered by what i have to pay for rent or mortgage then it is the ’nice to have’s’ that are squeezed. Knock on is that I don’t have the extra £150 required to play an ‘open’ course over a ’good’ course that I would have if housing didn’t eat so much of my income.

If I had that £150 I might not consider a green fee of £250 unaffordable, expensive yes, but also affordable.

 

[IanM]

Golf has got so expensive I may have to turn the Mistress out of her Bayswater Flat!

In all seriousness, when we moved here in 2009, I was looking at houses far more expensive than we actually bought. Mrs M was adamant that was daft as we a) didn't need to be spending that amount 2) We could be mortgage free within a shorter time and 3) we'd have more cash to spend on golf and holidays.

Sensible lady as ever!

 

[Deleted member 29109]

Golf has got so expensive I may have to turn the Mistress out of her Bayswater Flat!

In all seriousness, when we moved here in 2009, I was looking at houses far more expensive than we actually bought. Mrs M was adamant that was daft as we a) didn't need to be spending that amount 2) We could be mortgage free within a shorter time and 3) we'd have more cash to spend on golf and holidays.

Sensible lady as ever!

She sounds like a keeper ?

 

[Voyager EMH]

Golf has got so expensive I may have to turn the Mistress out of her Bayswater Flat!

I warned her last week that was likely to happen. Its been fun while it lasted.

 

[SwingsitlikeHogan]

Golf has got so expensive I may have to turn the Mistress out of her Bayswater Flat!

In all seriousness, when we moved here in 2009, I was looking at houses far more expensive than we actually bought. Mrs M was adamant that was daft as we a) didn't need to be spending that amount 2) We could be mortgage free within a shorter time and 3) we'd have more cash to spend on golf and holidays.

Sensible lady as ever!

In time I suspect we’ll sell up and move to create funds for the important things in life…more golf and more holidays.

Hold on…do I hear the words of my Mrs ringing in my ears…’so that we can help the children with a bigger deposit to get on the housing ladder’? Nah…I’m imagining things.?

 

[rystaman]

Mate of mine was in the mytime membership and mainly played pype hayes. After a couple of years he moved to the bright lights and premier league footballers at Sutton. Lovely course, playable all year round. But a year down the line he realised that he was paying £1800 to play golf 9 months of the year as he doesn’t like the cold and rain! So he’s gone back to mytime and loves it, plays in the comps at pype hayes most weeks, good bunch of lads in the membership, but it means he doesn’t feel like he’s wasting his money if he doesn’t play.

For me the advantage of membership is playing in comps and always having someone to play with. I’d hate to have to go back to being a nomad and having to play on my own if pals couldn’t make it. Everyone’s different though.

Haha I didn't want to give it a way but that's the one, remember the days it was a council-owned course. Absolutely loved last year just finishing work chasing the sunset, but I just paid as I went rather than joined up for a membership. Hard one those as tee times are always surprisingly rammed from like 6am - 1pm at a weekend so it just limits the time available.

Yeah, I don't mind it at times and enjoy the peace after a day at work but would be good at times.