Should I downgrade?
Discussion
Hi everyone,
I made an error last year and bought a nearly new VW Golf at around £16k. It was dull and expensive so I traded it in for a Fiesta ST less a few months ago and I love it. They offered £13.5k for the Golf so I pocketed some money too! I bought the Golf outright at the time so I don't owe anyone anything; my current car is completely mine.
However as a pre-first time buyer, I'm very conscious that a lot of money is tied up in this car. I originally bought the MK7 Golf because my MK5 Golf needed expensive repair work. As I drive so much I thought it would be a good investment to get a nearly new car; completely overlooking depreciation and being ignorant of how boring the MK7 would be (the MK5 was great in comparison!).
Currently I have around £33k saved across my ISA and LISA. PXing the ST for something cheaper could net me around £9k before the exchange. Of course the depreciation sucks but it might be worth it for extra savings. The plan is to move in with my partner in around a year or two so until then I'm just trying to find ways to save what I can. Currently putting around £600 away each month.
I've been looking at downgrading to something decent around 10 years old with good MPG due to the fact I do around 24k miles a year. I've been eyeing up VW MK5 Golf 2.0 GTs and BMW 1 Series 123ds which are around £2k and £4k respectively. Also making sure to only go for ones that have had cambelts sorted due to their age. This should bag me between £5-7k in extra savings but the car will be an unknown compared to the ST.
I'm just wondering if it's worth relinquishing a car I love to get some extra cash. At the end of the day a house is more important than a car, right? Any input would be greatly appreciated!
TL;DR - Should I take a £3k hit on a £12k car to get something cheaper and pocket the rest for a house?
Apologies for the long post. I'm very confused at the moment and obsessed with changing cars due to my worries.
I made an error last year and bought a nearly new VW Golf at around £16k. It was dull and expensive so I traded it in for a Fiesta ST less a few months ago and I love it. They offered £13.5k for the Golf so I pocketed some money too! I bought the Golf outright at the time so I don't owe anyone anything; my current car is completely mine.
However as a pre-first time buyer, I'm very conscious that a lot of money is tied up in this car. I originally bought the MK7 Golf because my MK5 Golf needed expensive repair work. As I drive so much I thought it would be a good investment to get a nearly new car; completely overlooking depreciation and being ignorant of how boring the MK7 would be (the MK5 was great in comparison!).
Currently I have around £33k saved across my ISA and LISA. PXing the ST for something cheaper could net me around £9k before the exchange. Of course the depreciation sucks but it might be worth it for extra savings. The plan is to move in with my partner in around a year or two so until then I'm just trying to find ways to save what I can. Currently putting around £600 away each month.
I've been looking at downgrading to something decent around 10 years old with good MPG due to the fact I do around 24k miles a year. I've been eyeing up VW MK5 Golf 2.0 GTs and BMW 1 Series 123ds which are around £2k and £4k respectively. Also making sure to only go for ones that have had cambelts sorted due to their age. This should bag me between £5-7k in extra savings but the car will be an unknown compared to the ST.
I'm just wondering if it's worth relinquishing a car I love to get some extra cash. At the end of the day a house is more important than a car, right? Any input would be greatly appreciated!
TL;DR - Should I take a £3k hit on a £12k car to get something cheaper and pocket the rest for a house?
Apologies for the long post. I'm very confused at the moment and obsessed with changing cars due to my worries.
How much are you looking to spend on your first house?
I'm 20 and bought my first flat a month ago - yet to move in. I'd managed to gather 16k for the deposit so I set my limit to 80k for the flat, it got me a nice newbuild in a decent location that I'm fairly happy with.
Last year I traded in my old Citroen DS3 for a nearly new Mini Cooper S, I got 4k for the DS3 and financed the 13.5k needed for the Mini. When looking for a flat I considered chopping in the Mini so that I could own something cheaper outright and put more money towards the flat - but in all honesty, its a starter place. I'll likely be there 5 years then look to move somewhere bigger.
Yes a bigger deposit would have been nice, but the change in mortgage repayments were negligible. Lumping in an extra 5k would only have saved me £100 a month.
I'd keep the Fiesta if I were you. They aren't overly expensive to run and parts are cheap in the unlikely event anything goes wrong with it.
I'm 20 and bought my first flat a month ago - yet to move in. I'd managed to gather 16k for the deposit so I set my limit to 80k for the flat, it got me a nice newbuild in a decent location that I'm fairly happy with.
Last year I traded in my old Citroen DS3 for a nearly new Mini Cooper S, I got 4k for the DS3 and financed the 13.5k needed for the Mini. When looking for a flat I considered chopping in the Mini so that I could own something cheaper outright and put more money towards the flat - but in all honesty, its a starter place. I'll likely be there 5 years then look to move somewhere bigger.
Yes a bigger deposit would have been nice, but the change in mortgage repayments were negligible. Lumping in an extra 5k would only have saved me £100 a month.
I'd keep the Fiesta if I were you. They aren't overly expensive to run and parts are cheap in the unlikely event anything goes wrong with it.
Thanks for your help and for providing your experience 
To be honest, I'm unsure at present. It will most likely be more than a starter I think so probably north of £150-200k?
True, as it's a Ford the maintenance costs shouldn't be too high!
Doesn't sound like a huge difference in payments like you say. I'm very conscious of the mistake I made buying the newer Golf so I'm just trying to scrabble back what I can for peace of mind!
To be honest, I'm unsure at present. It will most likely be more than a starter I think so probably north of £150-200k?True, as it's a Ford the maintenance costs shouldn't be too high!
Doesn't sound like a huge difference in payments like you say. I'm very conscious of the mistake I made buying the newer Golf so I'm just trying to scrabble back what I can for peace of mind!
Sounds like you have put £16k into a car and are now looking to realise £9k back from the sale of the Fiesta ( plus the £1500 you pocketed when you traded in the Golf ).
On the one hand you have dropped £5500 in a fairly short order.
On the other hand, the longer you keep the Fiesta the more you will drop again.
What you should do depends entirely on how much you want or need the money back, and how much you don't like driving the ST.
I was going to say to keep the Fiesta ST as well, until I read you do 24k miles a year.
What mpg do you get in the Fiesta?
24k miles, 30mpg and 130p a litre apparently costs £4,727.94 a year in fuel.
If you can increase mpg to 50 then cost decreases by £1,891.18 to £2,836.76.
For the miles you do just make sure you have a reliable/comfortable car to do them in, or you'll hate the car you switch to.
What mpg do you get in the Fiesta?
24k miles, 30mpg and 130p a litre apparently costs £4,727.94 a year in fuel.
If you can increase mpg to 50 then cost decreases by £1,891.18 to £2,836.76.
For the miles you do just make sure you have a reliable/comfortable car to do them in, or you'll hate the car you switch to.
Wooda80 said:
On the one hand you have dropped £5500 in a fairly short order.
On the other hand, the longer you keep the Fiesta the more you will drop again.
What you should do depends entirely on how much you want or need the money back, and how much you don't like driving the ST.
Thanks for your reply. This is precisely my conundrum On the other hand, the longer you keep the Fiesta the more you will drop again.
What you should do depends entirely on how much you want or need the money back, and how much you don't like driving the ST.
I don't need the money immediately per se but knowing the ST will only depreciate more makes me aware of how much more I'll lose. I do like driving the ST though. It's a lot of fun but then I'm also stuck in traffic a lot so...I when through this recently.
I had a new Polo blue GT, loved it but was aware that there was £16k tied up in it (bought cash). I ended up selling and buying a Fiesta Zetec '14 for £6000 and putting the remaining £10k into the deposit for the house.
What I've noted-
> Despite being a lower cost, the depreciation still mirrors that of the Polo.
> Once you're in a property it's a never ending project. Be that to enahnce it, change it to your taste or fix it, which makes it more difficult to justify a more expensive car. Our house is very sorted, but we still need to spend around £3k to get it where we want (excluding the Kitchen...).
> The Fiesta has had more consumables and bits that have required fixing due to age- this would be presumably made worse if you're considering a 10 year old car.
> I spend what I earn. I've had a substantial pay rise recently and I still spend it all (little more into investments, little more on clothes, etc.). So I think it's easier to stick with the ST, as you are already used to the costs. Rather than downgrading and then having to upgrade at a later date to get back into a nicer car and then readjusting your finances again.
To me it sounds like you have your head in the right place with good financial understanding. I'd say keep the ST and make savings else where in life. If that doesn't work you can always sell the ST at a later date. The potential ruinous bill from a 10yr old VAG vs. depreciation of the reliable ST would break near equal I imagine. The ST is a know in terms of cost and reliability. Lastly, you're a long time dead so put a little more heart into your decision too.
I had a new Polo blue GT, loved it but was aware that there was £16k tied up in it (bought cash). I ended up selling and buying a Fiesta Zetec '14 for £6000 and putting the remaining £10k into the deposit for the house.
What I've noted-
> Despite being a lower cost, the depreciation still mirrors that of the Polo.
> Once you're in a property it's a never ending project. Be that to enahnce it, change it to your taste or fix it, which makes it more difficult to justify a more expensive car. Our house is very sorted, but we still need to spend around £3k to get it where we want (excluding the Kitchen...).
> The Fiesta has had more consumables and bits that have required fixing due to age- this would be presumably made worse if you're considering a 10 year old car.
> I spend what I earn. I've had a substantial pay rise recently and I still spend it all (little more into investments, little more on clothes, etc.). So I think it's easier to stick with the ST, as you are already used to the costs. Rather than downgrading and then having to upgrade at a later date to get back into a nicer car and then readjusting your finances again.
To me it sounds like you have your head in the right place with good financial understanding. I'd say keep the ST and make savings else where in life. If that doesn't work you can always sell the ST at a later date. The potential ruinous bill from a 10yr old VAG vs. depreciation of the reliable ST would break near equal I imagine. The ST is a know in terms of cost and reliability. Lastly, you're a long time dead so put a little more heart into your decision too.
Hammy98 said:
How much are you looking to spend on your first house?
I'm 20 and bought my first flat a month ago - yet to move in. I'd managed to gather 16k for the deposit so I set my limit to 80k for the flat, it got me a nice newbuild in a decent location that I'm fairly happy with.
I'm guessing this is not in London or anywhere in the south... lolI'm 20 and bought my first flat a month ago - yet to move in. I'd managed to gather 16k for the deposit so I set my limit to 80k for the flat, it got me a nice newbuild in a decent location that I'm fairly happy with.
ka90 said:
I when through this recently.
What I've noted-
> Despite being a lower cost, the depreciation still mirrors that of the Polo.
> Once you're in a property it's a never ending project. Be that to enahnce it, change it to your taste or fix it, which makes it more difficult to justify a more expensive car. Our house is very sorted, but we still need to spend around £3k to get it where we want (excluding the Kitchen...).
> The Fiesta has had more consumables and bits that have required fixing due to age- this would be presumably made worse if you're considering a 10 year old car.
> I spend what I earn. I've had a substantial pay rise recently and I still spend it all (little more into investments, little more on clothes, etc.). So I think it's easier to stick with the ST, as you are already used to the costs. Rather than downgrading and then having to upgrade at a later date to get back into a nicer car and then readjusting your finances again.
To me it sounds like you have your head in the right place with good financial understanding. I'd say keep the ST and make savings else where in life. If that doesn't work you can always sell the ST at a later date. The potential ruinous bill from a 10yr old VAG vs. depreciation of the reliable ST would break near equal I imagine. The ST is a know in terms of cost and reliability. Lastly, you're a long time dead so put a little more heart into your decision too.
Thanks for your help, it's great to hear from someone who went through the same dilemma! What I've noted-
> Despite being a lower cost, the depreciation still mirrors that of the Polo.
> Once you're in a property it's a never ending project. Be that to enahnce it, change it to your taste or fix it, which makes it more difficult to justify a more expensive car. Our house is very sorted, but we still need to spend around £3k to get it where we want (excluding the Kitchen...).
> The Fiesta has had more consumables and bits that have required fixing due to age- this would be presumably made worse if you're considering a 10 year old car.
> I spend what I earn. I've had a substantial pay rise recently and I still spend it all (little more into investments, little more on clothes, etc.). So I think it's easier to stick with the ST, as you are already used to the costs. Rather than downgrading and then having to upgrade at a later date to get back into a nicer car and then readjusting your finances again.
To me it sounds like you have your head in the right place with good financial understanding. I'd say keep the ST and make savings else where in life. If that doesn't work you can always sell the ST at a later date. The potential ruinous bill from a 10yr old VAG vs. depreciation of the reliable ST would break near equal I imagine. The ST is a know in terms of cost and reliability. Lastly, you're a long time dead so put a little more heart into your decision too.
All fantastic points here. They all make a lot of sense to me. I guess in a sense, despite the depreciation it's still an investment as it enables you to buy better cars down the line rather than starting from square one again. However, knowing what you know now would you still have changed your car? I didn't spot any regret with downgrading!
Nullmoon said:
However, knowing what you know now would you still have changed your car? I didn't spot any regret with downgrading!
Yes and No... ultimatley I don't enjoy the car and it's taken me 8 months before I'm even considering changing, but that's out of choice. I keep thinking that the additional money could be spent elsewhere in the house. I work from home half the time though. I think if I spent the sort of time/mileage as you in a car, I really would have regreted it. Let's add a bit of man maths...
Say you cover 24k miles a year at 45mph average, that means you spend 22.2 days a year in your car..
Now, say you have a 9-5 job, that means you spend roughly 5hours a day in your house using it (excluding sleeping), which is 50 days a year. Add 16 hours for every weekend, that adds another 32 days a year.. so total time spent enjoying the house of 82 days a year.
So for maths sake, call it 80 days in the house to 20 days in the car.. thats a ratio of 4:1 ! Now add the relational cost of a car vs. property...makes cars appear to be reasonable value considering you spend a 1/4 of your free time vs house in one
.. or something like that. Edited by ka90 on Wednesday 8th August 12:46
First of all, well done for doing 24k pa in an ST. I do 15k in my own, love the car but there are days I wish for something more compliant/softer.
Don't forget how the car affects you mentally. It is your daily driver and your only car, it isn't as if you have a second one to have a bit of fun in. Will you look back at an old 1 series after you've parked it? Will you enjoy driving it at all? Will it put a smile on your face? It all plays a part.
I believe the answer is no.
It sounds like your finances are in order. I would keep the ST. Or if you want to downgrade, look for something more fun. The old MX-5 cliche springs to mind.
Don't forget how the car affects you mentally. It is your daily driver and your only car, it isn't as if you have a second one to have a bit of fun in. Will you look back at an old 1 series after you've parked it? Will you enjoy driving it at all? Will it put a smile on your face? It all plays a part.
I believe the answer is no.
It sounds like your finances are in order. I would keep the ST. Or if you want to downgrade, look for something more fun. The old MX-5 cliche springs to mind.
With few exceptions, every time you change like this you lose money- so ordinarily I'd say stick with what you've got. You will have blown quite a bit of money changing from Mk5 Golf to Mk7 Golf to Fiesta ST, with the second Gold and the Fiesta being 'nearly new'.
However with the mileage you're covering and the type of miles you're doing I'd say that the Fiesta ST is not the tool for the job. It's value is going to suffer particularly badly because of the rate you're putting miles on it. It's going to be a well above average miles car compared to the market.
However IMO there is no point buying a car right at the bottom of the market- this includes £2k BMWs. People get rid of cars after 8-10 years for a reason. By that age the car has likely had a few owners, well over 100k on the clock. BMWs are more expensive to repair than most and have some known complications which can bite you on the arse (timing chains spring to mind). Coming from 'nearly new' cars you would be setting yourself up for disappointment.
Buy something like a sensible four / five year old Focus or similar, research which engine is best but for your usage I'd suggest a turbo and a six-speed would be appropriate... cash £5k or so out of it, end up with a car which will see you through a good few years until you are comfortably on top of your mortgage or your salary goes up.
However with the mileage you're covering and the type of miles you're doing I'd say that the Fiesta ST is not the tool for the job. It's value is going to suffer particularly badly because of the rate you're putting miles on it. It's going to be a well above average miles car compared to the market.
However IMO there is no point buying a car right at the bottom of the market- this includes £2k BMWs. People get rid of cars after 8-10 years for a reason. By that age the car has likely had a few owners, well over 100k on the clock. BMWs are more expensive to repair than most and have some known complications which can bite you on the arse (timing chains spring to mind). Coming from 'nearly new' cars you would be setting yourself up for disappointment.
Buy something like a sensible four / five year old Focus or similar, research which engine is best but for your usage I'd suggest a turbo and a six-speed would be appropriate... cash £5k or so out of it, end up with a car which will see you through a good few years until you are comfortably on top of your mortgage or your salary goes up.
RSTurboPaul said:
I'm guessing this is not in London or anywhere in the south... lol
No, but why would that change anything? If I was doing the same job in London or the South as you state I'd be earning more money.It's not about me or my situation anyway, nor was the point I was making that the OP already had enough for a deposit - hence me asking how much he was looking to spend.
Edited by Hammy98 on Wednesday 8th August 14:19
ka90 said:
I think if I spent the sort of time/mileage as you in a car, I really would have regreted it.
Let's add a bit of man maths...
Now add the relational cost of a car vs. property...makes cars appear to be reasonable value considering you spend a 1/4 of your free time vs house in one.. or something like that.
That's sound reasoning; given how much time I spend in the car, I may as well stick with something I know and enjoy! Let's add a bit of man maths...
Now add the relational cost of a car vs. property...makes cars appear to be reasonable value considering you spend a 1/4 of your free time vs house in one
.. or something like that. Edited by ka90 on Wednesday 8th August 12:46
Your man maths is hilariously eye-opening
I'm not great at numbers so thanks for doing the legwork; cars are definitely something to invest in if we look at things this way! Mafffew said:
First of all, well done for doing 24k pa in an ST. I do 15k in my own, love the car but there are days I wish for something more compliant/softer.
Don't forget how the car affects you mentally. It is your daily driver and your only car, it isn't as if you have a second one to have a bit of fun in. Will you look back at an old 1 series after you've parked it? Will you enjoy driving it at all? Will it put a smile on your face? It all plays a part.
I believe the answer is no.
It sounds like your finances are in order. I would keep the ST. Or if you want to downgrade, look for something more fun. The old MX-5 cliche springs to mind.
Haha thanks Don't forget how the car affects you mentally. It is your daily driver and your only car, it isn't as if you have a second one to have a bit of fun in. Will you look back at an old 1 series after you've parked it? Will you enjoy driving it at all? Will it put a smile on your face? It all plays a part.
I believe the answer is no.
It sounds like your finances are in order. I would keep the ST. Or if you want to downgrade, look for something more fun. The old MX-5 cliche springs to mind.
To be honest, I don't see the issue with the ride despite all the complaints! It's a bit bumpier but it's a lot more fun than the cushy dreariness of the MK7 Golf. No drive involvement at all with that one!The mental effect of the car is something I entirely overlooked and is something I should have taken note of, given my thoughts on my previous car. It's a really good point as I'm always excited to drive the ST and frequently gaze upon it lovingly like it's my own child
HustleRussell said:
With few exceptions, every time you change like this you lose money- so ordinarily I'd say stick with what you've got. You will have blown quite a bit of money changing from Mk5 Golf to Mk7 Golf to Fiesta ST, with the second Gold and the Fiesta being 'nearly new'.
However with the mileage you're covering and the type of miles you're doing I'd say that the Fiesta ST is not the tool for the job. It's value is going to suffer particularly badly because of the rate you're putting miles on it. It's going to be a well above average miles car compared to the market.
However IMO there is no point buying a car right at the bottom of the market- this includes £2k BMWs. People get rid of cars after 8-10 years for a reason. By that age the car has likely had a few owners, well over 100k on the clock. BMWs are more expensive to repair than most and have some known complications which can bite you on the arse (timing chains spring to mind). Coming from 'nearly new' cars you would be setting yourself up for disappointment.
Buy something like a sensible four / five year old Focus or similar, research which engine is best but for your usage I'd suggest a turbo and a six-speed would be appropriate... cash £5k or so out of it, end up with a car which will see you through a good few years until you are comfortably on top of your mortgage or your salary goes up.
Thanks for your help. I totally agree, old cars are cheap for a reason. However by raising the bar I don't think I'll end up saving much at all, meaning that I'm changing a car I like to something I don't like, for minimum gain. However with the mileage you're covering and the type of miles you're doing I'd say that the Fiesta ST is not the tool for the job. It's value is going to suffer particularly badly because of the rate you're putting miles on it. It's going to be a well above average miles car compared to the market.
However IMO there is no point buying a car right at the bottom of the market- this includes £2k BMWs. People get rid of cars after 8-10 years for a reason. By that age the car has likely had a few owners, well over 100k on the clock. BMWs are more expensive to repair than most and have some known complications which can bite you on the arse (timing chains spring to mind). Coming from 'nearly new' cars you would be setting yourself up for disappointment.
Buy something like a sensible four / five year old Focus or similar, research which engine is best but for your usage I'd suggest a turbo and a six-speed would be appropriate... cash £5k or so out of it, end up with a car which will see you through a good few years until you are comfortably on top of your mortgage or your salary goes up.
Nullmoon said:
HustleRussell said:
With few exceptions, every time you change like this you lose money- so ordinarily I'd say stick with what you've got. You will have blown quite a bit of money changing from Mk5 Golf to Mk7 Golf to Fiesta ST, with the second Gold and the Fiesta being 'nearly new'.
However with the mileage you're covering and the type of miles you're doing I'd say that the Fiesta ST is not the tool for the job. It's value is going to suffer particularly badly because of the rate you're putting miles on it. It's going to be a well above average miles car compared to the market.
However IMO there is no point buying a car right at the bottom of the market- this includes £2k BMWs. People get rid of cars after 8-10 years for a reason. By that age the car has likely had a few owners, well over 100k on the clock. BMWs are more expensive to repair than most and have some known complications which can bite you on the arse (timing chains spring to mind). Coming from 'nearly new' cars you would be setting yourself up for disappointment.
Buy something like a sensible four / five year old Focus or similar, research which engine is best but for your usage I'd suggest a turbo and a six-speed would be appropriate... cash £5k or so out of it, end up with a car which will see you through a good few years until you are comfortably on top of your mortgage or your salary goes up.
Thanks for your help. I totally agree, old cars are cheap for a reason. However by raising the bar I don't think I'll end up saving much at all, meaning that I'm changing a car I like to something I don't like, for minimum gain. However with the mileage you're covering and the type of miles you're doing I'd say that the Fiesta ST is not the tool for the job. It's value is going to suffer particularly badly because of the rate you're putting miles on it. It's going to be a well above average miles car compared to the market.
However IMO there is no point buying a car right at the bottom of the market- this includes £2k BMWs. People get rid of cars after 8-10 years for a reason. By that age the car has likely had a few owners, well over 100k on the clock. BMWs are more expensive to repair than most and have some known complications which can bite you on the arse (timing chains spring to mind). Coming from 'nearly new' cars you would be setting yourself up for disappointment.
Buy something like a sensible four / five year old Focus or similar, research which engine is best but for your usage I'd suggest a turbo and a six-speed would be appropriate... cash £5k or so out of it, end up with a car which will see you through a good few years until you are comfortably on top of your mortgage or your salary goes up.
Personally if I was doing 24k motorway miles per year I'd want something comfier and smoother, maybe even break the habit of a lifetime and get an Auto!
HustleRussell said:
If you are happy to continue doing 24k motorway miles per year in the ST until the car is finished that is absolutely fine, if you get fed up of it before that and have to sell if you are going to take a hit on the money.
Personally if I was doing 24k motorway miles per year I'd want something comfier and smoother, maybe even break the habit of a lifetime and get an Auto!
I guess either way I'm going to have to take a hit on it at some point Personally if I was doing 24k motorway miles per year I'd want something comfier and smoother, maybe even break the habit of a lifetime and get an Auto!
I'm in the minority as I find it quite comfy to be fair!
Haha I'm not sure I could manage the transition!
Hammy98 said:
RSTurboPaul said:
I'm guessing this is not in London or anywhere in the south... lol
No, but why would that change anything? If I was doing the same job in London or the South as you state I'd be earning more money.It's not about me or my situation anyway, nor was the point I was making that the OP already had enough for a deposit - hence me asking how much he was looking to spend.
Edited by Hammy98 on Wednesday 8th August 14:19
Picking up your point about earning more (and going Off Topic), I'm not sure that wages and house prices go hand-in-hand in London - i.e. house prices might be double or triple elsewhere, but are wages double or triple? Not in my experience.
Purely as an example, pull up Rightmove, draw a line round the M25, exclude Shared Ownership and search for flats, and even if you more than double an £80k budget by adding another £100k to it, you still only have a whole 10 properties for sale on the website as I write this - of which only five are 1-beds, the rest being either hotel rooms, studios and/or mispriced on the website. And of the five 1-beds, one is cash buyers only. So that's only four 1-bed flats that could be secured with a mortgage at or less than £180k in the whole of Greater London.
https://www.rightmove.co.uk/property-for-sale/map....
Personally I'd love to get a flat for £80k, and might even be able to get a mortgage for that much, but seeing as New Build studio flats are starting at around £200k round my way, I shall continue to not be able to get a place or have the cash to put away towards a deposit or a nice car!
Edited by RSTurboPaul on Wednesday 8th August 15:36
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