London house prices?
Discussion
okgo said:
Alfa numeric said:
http://www.rightmove.co.uk/property-for-sale/prope...
That's just round the corner from the place we sold this time last year. Places like that, in that location, don't seem to stick around long (and have gone up by £100k in the last 18 months) although the ones that have been extended into the roof don't seem to be worth much more. After a period of stagnation between 2007-10 the market seems to be extremely buoyant. Ours went before it had even hit Rightmove- and when that sale fell through it sold again within an hour or so of the first viewing.
We loved Kingston- it was great to be able to walk to restaurants, the river and the cinema, we had Richmond Park on our doorstep and there were several superstores nearby. We also spent six years making full use of the West End and the huge number of gig venues within easy reach. Trouble is, despite both being on a decent wage, it became increasingly clear that we wouldn't be able to afford anything bigger as prices were moving faster than we could save. So when I was offered a job in Cambridgeshire it was with some sadness that we decided to join the exodus, leaving our two bed semi for a five bed detached house in Bedfordshire- all done without extending the mortgage. I don't regret it (although sometimes I miss the postage stamp garden when I have to mow our new lawn) but we do miss Kingston still.
I must admit though, I have no idea how people can justify spending over half a million quid on a tiny place like ours. What happens when, like us, you want to start a family?
I live round the corner, and will probably move into a 3 bed cottage/semi in the nearish future though I've got a fairly defined area which means I'll pay another £250k than what you linked I would imagine, which in my eyes is likely fine for a young family. Hell half of that area you've linked to will have young kids going to the school by the rubbish dump round the corner, convert that ones loft and there you are, its not huge, but as you've alluded to, not much is there unless you spend a hell of a lot more.That's just round the corner from the place we sold this time last year. Places like that, in that location, don't seem to stick around long (and have gone up by £100k in the last 18 months) although the ones that have been extended into the roof don't seem to be worth much more. After a period of stagnation between 2007-10 the market seems to be extremely buoyant. Ours went before it had even hit Rightmove- and when that sale fell through it sold again within an hour or so of the first viewing.
We loved Kingston- it was great to be able to walk to restaurants, the river and the cinema, we had Richmond Park on our doorstep and there were several superstores nearby. We also spent six years making full use of the West End and the huge number of gig venues within easy reach. Trouble is, despite both being on a decent wage, it became increasingly clear that we wouldn't be able to afford anything bigger as prices were moving faster than we could save. So when I was offered a job in Cambridgeshire it was with some sadness that we decided to join the exodus, leaving our two bed semi for a five bed detached house in Bedfordshire- all done without extending the mortgage. I don't regret it (although sometimes I miss the postage stamp garden when I have to mow our new lawn) but we do miss Kingston still.
I must admit though, I have no idea how people can justify spending over half a million quid on a tiny place like ours. What happens when, like us, you want to start a family?
Half a million quid given most people will move to a place like that form a flat where they have equity isn't exactly a huge amount I suppose. Also most people will not know otherwise, believe it or not there are lots of people moving out to places like Kingston because they see it as cheap and a place to raise a family vs Fulham where that property may well be pushing a million. A lot of this probably boils down to the 'good money' bit. What someone living and working in one part of the UK classes as good money, someone from London will not. Good money certainly to live around Kingston area is without any shadow of a doubt well into 6 figures, if there is no feasible way to get that as a household then I certainly agree with anyone who says 'move somewhere cheaper'.
Edited by p1stonhead on Thursday 7th January 09:19
jonah35 said:
I think they will keep going up, up, up and up.
I have nothing to do with London nor do I own anything there and I live in the north.
That being said every graduate ends up in London, most jobs are there, it is where immigrants tend to want to go, it is where tourists go and so on.
I'm surprised London house prices aren't higher to be honest.
Doesn't matter how many graduates/immigrants turn up. Effective demand is restricted by availability of finance/ability to pay. I have nothing to do with London nor do I own anything there and I live in the north.
That being said every graduate ends up in London, most jobs are there, it is where immigrants tend to want to go, it is where tourists go and so on.
I'm surprised London house prices aren't higher to be honest.
I had a good look round e17 a while back, and whilst its got bars/pubs etc - I don't rate it all that much if I'm honest.
the houses are (in my view) way overvalued and are considerably smaller than similar houses in E10/E7 and E11.
http://www.rightmove.co.uk/property-for-sale/prope...
for example the above - if this were in Walthamstow it would probably be 300 sq ft smaller and be 100k more expensive...
the houses are (in my view) way overvalued and are considerably smaller than similar houses in E10/E7 and E11.
http://www.rightmove.co.uk/property-for-sale/prope...
for example the above - if this were in Walthamstow it would probably be 300 sq ft smaller and be 100k more expensive...
princeperch said:
anonymous said:
[redacted]
well considering its very likely they only spend about 230k on the house and 60k odd on the renovations - I doubt they'll be too concerned when they are pocketing their 225k odd capital gain.ClaphamGT3 said:
princeperch said:
anonymous said:
[redacted]
well considering its very likely they only spend about 230k on the house and 60k odd on the renovations - I doubt they'll be too concerned when they are pocketing their 225k odd capital gain.princeperch said:
ClaphamGT3 said:
princeperch said:
anonymous said:
[redacted]
well considering its very likely they only spend about 230k on the house and 60k odd on the renovations - I doubt they'll be too concerned when they are pocketing their 225k odd capital gain.princeperch said:
I had a good look round e17 a while back, and whilst its got bars/pubs etc - I don't rate it all that much if I'm honest.
the houses are (in my view) way overvalued and are considerably smaller than similar houses in E10/E7 and E11.
http://www.rightmove.co.uk/property-for-sale/prope...
for example the above - if this were in Walthamstow it would probably be 300 sq ft smaller and be 100k more expensive...
I have friends in both Walthamstow and Leytonstone, whilst Walthamstow is a stretch from what most consider central London, Leytonstone simply doesnt feel like london at all any more, stepping out of the tube onto the giant main road, it feels like suburbia to any large city. I guess thats why the premium is less.the houses are (in my view) way overvalued and are considerably smaller than similar houses in E10/E7 and E11.
http://www.rightmove.co.uk/property-for-sale/prope...
for example the above - if this were in Walthamstow it would probably be 300 sq ft smaller and be 100k more expensive...
gibbon said:
princeperch said:
I had a good look round e17 a while back, and whilst its got bars/pubs etc - I don't rate it all that much if I'm honest.
the houses are (in my view) way overvalued and are considerably smaller than similar houses in E10/E7 and E11.
http://www.rightmove.co.uk/property-for-sale/prope...
for example the above - if this were in Walthamstow it would probably be 300 sq ft smaller and be 100k more expensive...
I have friends in both Walthamstow and Leytonstone, whilst Walthamstow is a stretch from what most consider central London, Leytonstone simply doesnt feel like london at all any more, stepping out of the tube onto the giant main road, it feels like suburbia to any large city. I guess thats why the premium is less.the houses are (in my view) way overvalued and are considerably smaller than similar houses in E10/E7 and E11.
http://www.rightmove.co.uk/property-for-sale/prope...
for example the above - if this were in Walthamstow it would probably be 300 sq ft smaller and be 100k more expensive...
I've lived in dalston before and had sirens wailing all night and people pissing and shiitting in the stairwell. That inner East London, and it's grim. f
k that. princeperch said:
That suits me just fine. I left my house tonight to go for a run, as I entered the Olympic park after 7 minutes or so, I could see the gherkin, the shard, the Olympic park, and the orbit all stretched out before me, in a line, in the night sky. It was quite something actually. And that's why I like living here. It's a stones throw from central London, you can be in the west end in 20 minutes or so, but if you need to feel like getting out into the countryside, Epping forest is up the road, and Wanstead flats is 5 minutes away as is the Olympic park (which I note has just had boris bikes installed). You never feel hemmed in.
I've lived in dalston before and had sirens wailing all night and people pissing and shiitting in the stairwell. That inner East London, and it's grim. fk that.
I agree with pretty much all of that, its just for me, i like the bars and restaurants etc a walk away, and Leytonstone etc just doesnt really have that for me, though clearly it depends whats possible/available, but i take your point with access to various london sites. Last night i left the office in Liverpool street, had a swift pint on the way home and was then home in 10 minutes, took the dog for a walk round the garden square, then retired to dine at home overlooking the garden wondering if my lawn will ever dry out.I've lived in dalston before and had sirens wailing all night and people pissing and shiitting in the stairwell. That inner East London, and it's grim. f
k that. Im not meaning to sound smug, i just think many people slating london dont appreciate many peoples real life there, their opinion is based on walking down oxford street on a saturday afternoon, something, by the way, that i never do.
AyBee said:
article said:
Currently, the average London house price is equal to just under eight times the capital’s average salary.
So 2 people on average salaries with a 4x earnings mortgage can afford an average house - doesn't sound too extreme to me...AyBee said:
article said:
Currently, the average London house price is equal to just under eight times the capital’s average salary.
So 2 people on average salaries with a 4x earnings mortgage can afford an average house - doesn't sound too extreme to me...Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff