London Prices - when will they stop!

[XmisterIS]

Yesterday, we came up Lunnun way from Sudaamp'un (Southampton, to them wots not from round 'ere) to visit some friends in Sunbury-on-Thames (very posh, old chap) who are selling their house. It is in a terrace, it has 3 bedrooms, only one of which is a double, minute hallway, miniscule lounge, poky kitchen, hardstanding for only one vehicle, no garage, back garden the size of a postage stamp.

When we got home, we found it on the Internet - and the price made my jaw hit the floor. It is about a quarter the size of our property (including land area and outbuildings), and about half the size of our house (main house only) but it is for sale at more than double the value of our house!!!!!! Actually, quite a lot more than double. Insane. We are not in a rough area of southampton either.

They are moving out of London and he is taking a pay cut - but they are buying a much bigger house, for less than the value of their current one, and even though he will be taking a pay cut they will still be saving money because apparently everything in London is now stupid prices. I can vouch for that - I recently attended a conference in Hampstead and at lunch time the cheapest decent hot food i could find locally was a hot dog for £8. I didn't really care that it was a homemade-boutique-artisan-hand-knitted pork saussicon. It was a hot dog and it was £8. Insane. The following day i brought a packed lunch.

The prices seem even more insane when you consider that southampton is not actually very far from central London - 80 miles according to Google - just over an hour on the fast train from Southampton Central to London Waterloo.

It seems to me that London is one huge, terrifying bubble that is going to burst one day.

[The Hitcher]

Honestly it's a joke, within the M25 is a horrible place to live now for the most part, it's stupidly expensive, nearly always busy too, if I could easily change work to another part of the Country I would, in fact I probably will but need to get some more experience first as I've had a relatively recent career change.

[TC1474]

It is just not that there London that is expensive. It applies along the whole of the M4 Corridor and the surrounding home counties in reality.

I am in the Reading suburbs. I am 20 minutes out of London by train (depending on whether I go to Paddington or Waterloo) I can be at Heathrow in around 20 minutes and central London by car in about 45 minutes.

Prices here are absurd. My first 1 bedroom flat in Lower Earley that I paid £30,000 for in 1987 is now selling for £150,000 and my mid terraced 3 bedroom house with garage in a seperate block and small garden are no selling for over £300,000.

Part of the problem we have is that we are in the Silicon corridor and many of the computer companies bring in staff from overseas and put theor staff into accomodation paid for by the firm which over the past 20+ years has allowed prices to rocket and over inflated values.

My family (on my mothers side) live in Harrogate in north Yorkshire and they have properties like you say that are twice the size and half the price.

I have thought about moving out of the area a few times, but the trouble is once you move out it would be nigh on impossible to move back if for whatever reason we wanted to. So we are no thinking that maybe when I retire (assuming I make it to and as far as retirement) we might sell up, sell everything lock stock and barrell and just move onto a cruise ship on a full time basis Surprising how many have done that as well.

[Joeman]

I grew up in the New Forest close to Southampton, but for the last 12years, my job has only really exists in London (or other financial districts around the world) so I'm stuck having to live close to London.

I tried the commute from Southampton to London and it wasnt much fun.

I've lived in central London, which was great at the time, but not something I would want to do again.

London is a great fun place to work, but not a great place to live as unless you have a few million quid spare, you have to settle for cramps conditions and compromises.

Sevenoaks is the ideal compromise for me. Close go London - I have a garden and garage and it's a safe, family friendly place to live.

Anyone wishing to leave London but remain easily commutable should really consider Sevenoaks.

[Guest]

June 24th (possibly)

[TC1474]

Anyone wishing to leave London but remain easily commutable should really consider Sevenoaks.

 

I agree it is a nice area, except when visiting colleagues at the offfice based in the High Street, the car park is full and you have t try and find a space in one of the public car parks..... Then it becomes a horrible place

[Throttled]

I just could not live like that, in London or anywhere. No wonder the social divide is growing.

[Six30]

I grew up in the New Forest close to Southampton, but for the last 12years, my job has only really exists in London (or other financial districts around the world) so I'm stuck having to live close to London.

I tried the commute from Southampton to London and it wasnt much fun.

I've lived in central London, which was great at the time, but not something I would want to do again.

London is a great fun place to work, but not a great place to live as unless you have a few million quid spare, you have to settle for cramps conditions and compromises.

Sevenoaks is the ideal compromise for me. Close go London - I have a garden and garage and it's a safe, family friendly place to live.

Anyone wishing to leave London but remain easily commutable should really consider Sevenoaks.

 

Sevenoaks has excellent charity shops, it amazes me what the rich giveaway .

[MrBrightside]

I hate London. But it makes me appreciate Haverhill, which is really saying something.

[Joeman]

Sevenoaks has excellent charity shops, it amazes me what the rich giveaway .

 

When I first moved to Sevenoaks i rented a flat above a charity shop. I was amazed at the quality of stuff they threw in the huge bin out the back! I could have setup an eBay shop selling it and made an excellent income.

[Fozzie]

I was priced out of London. I'd have no savings if I had stayed where I was as I'd have to spend everything on the rent. And it infuriated me as my wages were climbing an average of 15% a year which I felt was ballistic enough.

Sped up my ambition to move back to the north. Now have a 3 bedroom house, big garage, nice garden all for the same cost as that flat. Area is 15 minutes away from two major towns and 25 minutes away from central Manchester. The train from Warrington Bank Quay is a £1.50 bus trip away and gets me to Euston in 1hr 45. So it only takes me an extra hour to get from here to central London

And my wage is higher here

London is too busy, it's hard to move around so the quality of life is going down while the price for it goes up. Just takes a wobble and investors will sell up and the value will nose dive.

[Guest]

I have to say after driving around and through London for the past couple of years. London is a shit hole. Why anyone would want to live there is beyond me. The touristy bits seem ok but some of the areas are grim.

[Hoggs]

I like where I live

[Joe85]

My house in South London more than doubled in 4 years.

Felt nice to cash in and move out.

Sent from my iPhone using Tapatalk

[Fozzie]

My house in South London more than doubled in 4 years.

Felt nice to cash in and move out.

Sent from my iPhone using Tapatalk

 

This here sums up those happy/sad in London.

Those who cashed in from it are happy.

Those who can't aren't happy.

Money makes the world go round

[TheJamesH1]

I must admit, I'm looking forward to the day that I sell up and move out to the sticks somewhere. In the meantime I'm happy for house prices to keep going through the roof. At the moment all my work is focused in London, so it wouldn't suit to move out just yet.

There will be a long list of things that I'll miss about living in London when I do leave, although there will be a longer list of things I won't miss....

Sevenoaks is lovely - but not much cheaper

[Joe85]

I must admit, I'm looking forward to the day that I sell up and move out to the sticks somewhere. In the meantime I'm happy for house prices to keep going through the roof. At the moment all my work is focused in London, so it wouldn't suit to move out just yet.

There will be a long list of things that I'll miss about living in London when I do leave, although there will be a longer list of things I won't miss....

Sevenoaks is lovely - but not much cheaper

 

Certainly more bang for your buck, though.

Moving out to Sevonoakes was a nice excuse for me to use the bike more too

[Wrenchmonkey]

Everyone says London is really expensive which is hard to argue with, however just with everything if you are smart, patient, do a lot of research and have lady luck on your side there are still some amazing deals to be had. My place in Enfield that me and the OH recently bought was a bargain compared to all the other house's on the street and it's end of terrace. The downside is how long the renovation project is taking.

[XmisterIS]

Everyone says London is really expensive which is hard to argue with, however just with everything if you are smart, patient, do a lot of research and have lady luck on your side there are still some amazing deals to be had. My place in Enfield that me and the OH recently bought was a bargain compared to all the other house's on the street and it's end of terrace. The downside is how long the renovation project is taking.

 

Sounds like you've done exactly the right thing there. I've always gone with the tactic of buying the least expensive house on the most expensive street you can afford. I started buying and renovating in 2000, 16 years later it's paid off - large house no mortgage. XmrsIS and I have decided to stay put now - we don't need a mansion, we're in our 40's now and pretty much bored of renovating places!