London house prices?
Discussion
If you look k a lot of the posts on this thread and took team at face value you'd assume that somehow London is defying all economic logic and market forces.
You would assume that all property is somehow priced at a level you can only afford if you are on £250k per year!! That propose who work in a shop, a nurse, a teacher, a marketing manager a police officer a cab driver must live under the arches of Waterloo bridge.
It really is funny and shows how naive many are.
Blimey, 120k income and a £400k mortgage that would put so much disposable in your pocket you'd have a Maserati and membership at Soho House.
You would assume that all property is somehow priced at a level you can only afford if you are on £250k per year!! That propose who work in a shop, a nurse, a teacher, a marketing manager a police officer a cab driver must live under the arches of Waterloo bridge.
It really is funny and shows how naive many are.
Blimey, 120k income and a £400k mortgage that would put so much disposable in your pocket you'd have a Maserati and membership at Soho House.
Thankyou4calling said:
It really is funny and shows how naive many are.
Blimey, 120k income and a £400k mortgage that would put so much disposable in your pocket you'd have a Maserati and membership at Soho House.
Not sure if I'm missing the irony, but by the time most are earning £120k, a £400k London property is really not going to be much use to them. There's a reason so many people move out of town after breeding.Blimey, 120k income and a £400k mortgage that would put so much disposable in your pocket you'd have a Maserati and membership at Soho House.
gibbon said:
Nice little house that.
Do you think its possible that the area has changed some what in 21 years? The world doesnt stand still, London has changed, theres no point in getting het up about it, you cant fight it, position yourself accordingly to make the best of your life financially, socially and professionally.
120k what a hell of a lot for a 25 year old in 1995.
When my future FIL first visited from Newcastle he described it as "a hallway with some chairs in it"...Do you think its possible that the area has changed some what in 21 years? The world doesnt stand still, London has changed, theres no point in getting het up about it, you cant fight it, position yourself accordingly to make the best of your life financially, socially and professionally.
120k what a hell of a lot for a 25 year old in 1995.
Richmond's always been quite upmarket, but when I lived in my cottage the old lady next door told me she paid £500 for her house in c.1950 and her mortgage repayments were £5 a month. While I was there I helped her get a grant for an indoor toilet and shower. She's still living there...must be nearly 100 and the cottage worth over £700K.
I'm not too het up about it...now living in SW13 in a 3,400 sqft house and no mortgage, so selfishly I'm fine unless I upgrade (which I'm trying to do).
My point was to consider the situation for people in their 20s. It makes sense for them to look at SE London, where some areas have changed beyond recognition in the last couple of decades and should improve further.
Also, there are other important things to spend your money on, like a parent being able to give up work to look after the kids, being able to choose where to educate them, pensions, holidays, cars etc...It's always been a balancing act but has got much tougher in London now.
P1ato said:
When my future FIL first visited from Newcastle he described it as "a hallway with some chairs in it"...
Richmond's always been quite upmarket, but when I lived in my cottage the old lady next door told me she paid £500 for her house in c.1950 and her mortgage repayments were £5 a month. While I was there I helped her get a grant for an indoor toilet and shower. She's still living there...must be nearly 100 and the cottage worth over £700K.
I'm not too het up about it...now living in SW13 in a 3,400 sqft house and no mortgage, so selfishly I'm fine unless I upgrade (which I'm trying to do).
My point was to consider the situation for people in their 20s. It makes sense for them to look at SE London, where some areas have changed beyond recognition in the last couple of decades and should improve further.
Also, there are other important things to spend your money on, like a parent being able to give up work to look after the kids, being able to choose where to educate them, pensions, holidays, cars etc...It's always been a balancing act but has got much tougher in London now.
Apologies, the het up comment was not directed at you personally.Richmond's always been quite upmarket, but when I lived in my cottage the old lady next door told me she paid £500 for her house in c.1950 and her mortgage repayments were £5 a month. While I was there I helped her get a grant for an indoor toilet and shower. She's still living there...must be nearly 100 and the cottage worth over £700K.
I'm not too het up about it...now living in SW13 in a 3,400 sqft house and no mortgage, so selfishly I'm fine unless I upgrade (which I'm trying to do).
My point was to consider the situation for people in their 20s. It makes sense for them to look at SE London, where some areas have changed beyond recognition in the last couple of decades and should improve further.
Also, there are other important things to spend your money on, like a parent being able to give up work to look after the kids, being able to choose where to educate them, pensions, holidays, cars etc...It's always been a balancing act but has got much tougher in London now.
Anyone see this weeks Location Location Location? Looked at 1-2 bed flats in Leyton, Forest Gate for one of the pair of buyers and the same type for the other girl in Stoke Newington, Finsbury Park, Seven Sisters and Clapton.
Shows what £300-£450K buys... a railway line within touching distance from your bedroom window!
Shows what £300-£450K buys... a railway line within touching distance from your bedroom window!
okgo said:
Which probably means it was £450 before brexit...
Sadly not. Try £500k, post. I'm pro Europe and immigration. But what's happening right now in London is madness. I'm not qualified enough to call it a bubble, but it smells like one. I also smell a lot of lobbying and corruption.
The shared ownership requirements have been relaxed in London, so anyone household earning £90,000 can apply. Fine you say, but its now available for anyone, even if you have 200 buy to let. (For the BTL parasites - when did letting out illegally stop you)
In the meantime, they have decided to drop the help to buy scheme, as it was 'no longer required'. Which is the only thing the BBC has decided to put on their most viewed pages.
mgtony said:
Anyone see this weeks Location Location Location? Looked at 1-2 bed flats in Leyton, Forest Gate for one of the pair of buyers and the same type for the other girl in Stoke Newington, Finsbury Park, Seven Sisters and Clapton.
Shows what £300-£450K buys... a railway line within touching distance from your bedroom window!
Railway line is the least of your worries there, they're quite innocuous and don't work much at night anyway. Network rail are nazis regarding access though. Big issue will be drains, rubbish, rodents and general squalor if there are hmos nearby (there will be) A lot of the "flats" in London are carved up former family homes; massive downward mobility there.Shows what £300-£450K buys... a railway line within touching distance from your bedroom window!
As pleasant as london is, I consider it to be a foreign country, uninhabitable without significant inherited wealth, run by hypocritical, rich, liberal t**ts. They'll be banning modern classics in 2020 (hopefully there'll be no copycats), so that's the final nail in the london coffin for me.
okgo said:
You think prices have gone up since brexit?
I think that has not been the case from what I've seen
Listed prices, not sold. I've unfortunately not had the time to track sold priced against listed. Anecdotally, they still seem to be going for asking or over.I think that has not been the case from what I've seen
It's even more expensive than New York here now, lets hope it won't become like Hong Kong or god forbid Tokyo. Just for the poor sods in 10 years time that will have to commute for 2 hours a day just to pay their rent in the 'commute zone'.
roofer said:
London is going down, and the ripple will spread. Especially when Europe tries/does f
k up the banking hub.
Put your money into London at your peril. It's a complete sthole anyway.
It's classed as one of the greatest cities on earth, and is genuinely the UK's biggest asset. No, really. k up the banking hub.Put your money into London at your peril. It's a complete s
thole anyway.Jiebo said:
roofer said:
London is going down, and the ripple will spread. Especially when Europe tries/does fk up the banking hub.
Put your money into London at your peril. It's a complete sthole anyway.
It's classed as one of the greatest cities on earth, and is genuinely the UK's biggest asset. No, really. k up the banking hub.Put your money into London at your peril. It's a complete s
thole anyway.roofer said:
Jiebo said:
roofer said:
London is going down, and the ripple will spread. Especially when Europe tries/does fk up the banking hub.
Put your money into London at your peril. It's a complete sthole anyway.
It's classed as one of the greatest cities on earth, and is genuinely the UK's biggest asset. No, really. k up the banking hub.Put your money into London at your peril. It's a complete s
thole anyway.It's the most globally connected city in the world along with probably New York. That'll never change.
roofer said:
It was when I was born there, I have earned a tidy sum from it since. But take the banking sector out of it, and it will die. Which is what the Eurocrats are after doing. So, put your money into it, do you get a full house, are a pair of two's ?
International investment is still pumping money into London. I don't live in a traditionally expensive part of London, but in just 3 years I've noticed a huge amount of mainland Chinese people arriving and buying the stupidly priced new builds (£650k studios).If as you say the financial services industry leaves London it will be the end of the old British 'empire complex'. We would have nothing left. Just a tiny little island in the world nobody cares about. I'd be on the first flight out, as I would expect most others in the same position.
Jiebo said:
roofer said:
It was when I was born there, I have earned a tidy sum from it since. But take the banking sector out of it, and it will die. Which is what the Eurocrats are after doing. So, put your money into it, do you get a full house, are a pair of two's ?
International investment is still pumping money into London. I don't live in a traditionally expensive part of London, but in just 3 years I've noticed a huge amount of mainland Chinese people arriving and buying the stupidly priced new builds (£650k studios).If as you say the financial services industry leaves London it will be the end of the old British 'empire complex'. We would have nothing left. Just a tiny little island in the world nobody cares about. I'd be on the first flight out, as I would expect most others in the same position.
kers are going to make life easy. As they have alluded to. p1stonhead said:
The banking sector won't leave London.
It's the most globally connected city in the world along with probably New York. That'll never change.
Don't underestimate our European cousins ability to exploit this opportunity.It's the most globally connected city in the world along with probably New York. That'll never change.
This is not the 1950s. We live in a digital age, strong networks and foundations can be established within years.
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