London property prices
Poll: London property prices
Total Members Polled: 101
Discussion
Opinions?
Having watched some programme the other night about London property prices and how much they've been going up in recent years, I did a little research (I put "London property prices" into Google!) and the links vary from a 29% rise over the next 5 years to stagnating in an election year to about to fall dramatically.
So, if you had 200K to invest in property, would London be your choice or not?
Having watched some programme the other night about London property prices and how much they've been going up in recent years, I did a little research (I put "London property prices" into Google!) and the links vary from a 29% rise over the next 5 years to stagnating in an election year to about to fall dramatically.
So, if you had 200K to invest in property, would London be your choice or not?
£200k I'd put outside of London. The stuff that will keep going up at silly rates is where people aren't sensitive to price. I.e. the rich from around the world who want to buy 'in london'. That's central London and £1m plus homes, which in reality is a 1 bed in a nice area or a 2 bed in a not so good area.
A £500k flat I'd rather buy a decent home outside of London as I feel the 'normal person' homes in London have over extended compared to outside at the moment.
A £500k flat I'd rather buy a decent home outside of London as I feel the 'normal person' homes in London have over extended compared to outside at the moment.
Thx for the replies.
1. 200k would get the square root of diddlysquat in London but it is a sizeable deposit on a BTL.
2. Personally I think London prices are in for a bit of a slowdown BUT...they're not going to be overtaken by rises elsewhere are they so it's a "risk-free" gamble in that sense surely?
3. Crossrail is a good shout.
1. 200k would get the square root of diddlysquat in London but it is a sizeable deposit on a BTL.
2. Personally I think London prices are in for a bit of a slowdown BUT...they're not going to be overtaken by rises elsewhere are they so it's a "risk-free" gamble in that sense surely?
3. Crossrail is a good shout.
Centurion07 said:
2. Personally I think London prices are in for a bit of a slowdown BUT...they're not going to be overtaken by rises elsewhere are they so it's a "risk-free" gamble in that sense surely?
A 40k house in Hull can't really drop much...a £500k one bedroom flat in Wandsworth most certainly can.We are 5 years into a house price rally...I bet many people were saying exactly what you said back in 2007 after 5 years of rises.
I wouldn't touch London property with a barge poll as an investment at the moment in time.
I think prices will rise more slowly, and may stagnate in certain, less desirable areas, but all the time that demand outstrips supply the prices will stay high.
You would think that as London prices got silly, people and businesses would start relocating to cheaper areas. I'm sure some are, but it's not a visible trend, London has a strange draw, particularly for the young, and as a business, being based in London still has a lot of benefits.
You would think that as London prices got silly, people and businesses would start relocating to cheaper areas. I'm sure some are, but it's not a visible trend, London has a strange draw, particularly for the young, and as a business, being based in London still has a lot of benefits.
£250k-£270k can get you a decent 2 bed flat in a nice area in zone 4 (Finchley, Whetstone, Southgate) 25/30mins train to Central London/West End.
The stamp duty move should ensure anything around this price moves up or is easier to sell and it's possible to get a rental income of £1100-£1200 a month too.
Only zone 1/2 prices have become ridiculous (I.e a 1 bed flat = £400k+).
All things considered I still think there is an opportunity to make a decent capital gain and regular income although not 10%+ as seen in previous years
The stamp duty move should ensure anything around this price moves up or is easier to sell and it's possible to get a rental income of £1100-£1200 a month too.
Only zone 1/2 prices have become ridiculous (I.e a 1 bed flat = £400k+).
All things considered I still think there is an opportunity to make a decent capital gain and regular income although not 10%+ as seen in previous years
Centurion07 said:
Thx for the replies.
1. 200k would get the square root of diddlysquat in London but it is a sizeable deposit on a BTL.
I keep hearing these guys advertise on LBC.1. 200k would get the square root of diddlysquat in London but it is a sizeable deposit on a BTL.
http://www.galliardhomes.com/studio/off-plan/centr...
Still going up and probably will by another 10% dependant on the only thing that makes money.... transport, get somewhere that has new transport and it will add 20% on the price.
Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Another 5 years of austerity by the sound of it so interest rates should stay low imho. Perhaps steady price rises until then? High value stuff may be hurt by the new stamp duty rules though or indeed potential for a "mansion" tax; I'm already seeing it put people off building the high value houses.
TX.
TX.
Du1point8 said:
Still going up and probably will by another 10% dependant on the only thing that makes money.... transport, get somewhere that has new transport and it will add 20% on the price.
Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Certain areas on the outskirts of London are classed as Zone 7/8 I.e. Waltham Cross, Cheshunt (on Stansted Express Line) and Borehamwood is Zone 6. Travel is max £250 a month (1-8) or as little as £130/£140 a month if you don't have to go to Zone 1/can do the last bit by bus, walk, etc Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Iv been looking at houses recently in and around London and anything half decent in a nice area doesn't last longer than 6-8 weeks even though it's Oct, Nov, Dec which are traditionally "quiet" months.
I think a 1/2 bed flat within commutable distance of anywhere central is a good shout alternatively high yields can be had in areas like Hatfield (due to students if you set it up as a HMO)
Who wins the next general election will certainly have an impact in my opinion.
Edited by Froomee on Saturday 6th December 22:41
Froomee said:
Du1point8 said:
Still going up and probably will by another 10% dependant on the only thing that makes money.... transport, get somewhere that has new transport and it will add 20% on the price.
Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Certain areas on the outskirts of London are classed as Zone 7/8 I.e. Waltham Cross, Cheshunt (on Stansted Express Line) and Borehamwood is Zone 6. Travel is max £250 a month (1-8) or as little as £130/£140 a month if you don't have to go to Zone 1/can do the last bit by bus, walk, etc Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Iv been looking at houses recently in and around London and anything half decent in a nice area doesn't last longer than 6-8 weeks even though it's Oct, Nov, Dec which are traditionally "quiet" months.
I think a 1/2 bed flat within commutable distance of anywhere central is a good shout alternatively high yields can be had in areas like Hatfield (due to students if you set it up as a HMO)
Who wins the next general election will certainly have an impact in my opinion.
Edited by Froomee on Saturday 6th December 22:41
mine at the moment would earn more with us not being in it and renting than what we pay in mortgage... its stupid.
I wonder if we could move to somewhere else and share and let the property pay it self, its never going to go lower in rent... which is a shame for some people.
Du1point8 said:
Froomee said:
Du1point8 said:
Still going up and probably will by another 10% dependant on the only thing that makes money.... transport, get somewhere that has new transport and it will add 20% on the price.
Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Certain areas on the outskirts of London are classed as Zone 7/8 I.e. Waltham Cross, Cheshunt (on Stansted Express Line) and Borehamwood is Zone 6. Travel is max £250 a month (1-8) or as little as £130/£140 a month if you don't have to go to Zone 1/can do the last bit by bus, walk, etc Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Iv been looking at houses recently in and around London and anything half decent in a nice area doesn't last longer than 6-8 weeks even though it's Oct, Nov, Dec which are traditionally "quiet" months.
I think a 1/2 bed flat within commutable distance of anywhere central is a good shout alternatively high yields can be had in areas like Hatfield (due to students if you set it up as a HMO)
Who wins the next general election will certainly have an impact in my opinion.
Edited by Froomee on Saturday 6th December 22:41
mine at the moment would earn more with us not being in it and renting than what we pay in mortgage... its stupid.
I wonder if we could move to somewhere else and share and let the property pay it self, its never going to go lower in rent... which is a shame for some people.
Du1point8 said:
Still going up and probably will by another 10% dependant on the only thing that makes money.... transport, get somewhere that has new transport and it will add 20% on the price.
Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Plenty of middle grounds. Scary but needs must.
I would like to move out of London and buy a nice 4/5 bed property, the only bit stopping me is the cost to commute, I can afford the cost of unto £5k, but the OH its a death sentence on being able to pay for the one in london.
London = £2k between us.
outside = £10k between us for train and tube.
Although I want a garden so much... I might just do it.
Depends how much cash you have.
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