Harringay, Haringey - So Good they Spelt it Twice!
House prices
Speak to the estate agents, something unprecedented it's happening with the cost of home ownership, especially between wood green tube and ally pally.
It's possible this government may become known as seeing through the largest distribution of wealth from the poor to the rich ever ....
Replies to This Discussion
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Permalink Reply by PhoebeMac on
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Totally insane. There is a two bedroom flat on Seymour Road going for £460K. It's a lovely flat, but £460K!!!!
http://www.rightmove.co.uk/property-for-sale/property-44179975.html
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That's my point, they weren't saving enough before and now they need to find even more money from that not-big-enough pot.
Seriously, this is not "move along, normal market, nothing to see here" territory. This is the assumptions people have made (often implicitly) when planning their futures being dismantled. It can't NOT have an affect.
What proportion of today's market is made up of first time buyers vs a long term - let's say thirty year - average?
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Permalink Reply by Michael Anderson on
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I think the problem with saving for a deposit in London is that while you do, you have to pay a whacking amount of your salary as rent so you have less to squirrel away. I think that is probably more of a likely reason for the increased age of first time buyers than lack of confidence in the market. Of course the alternative is to stay on with the folks resulting in happiness all round.
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Permalink Reply by Finsbury Park Ranger on
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Yesterday i was St Georges hospital in Tooting and whilst in the lift i overheard a doctor say 'I should never have got into medicine, i should have done TV or accountacy, a consultant cant buy a place around here without a massive deposit, its why i commute from East Grimstead'.
Not so much the people's republic of tooting anymore.
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Hi TBD
Absolutely, we will move out of London when or before we retire. I don't think it's a good place to grow old in unless you are very rich - the pace of life in the streets is such that the elderly and infirm are literally jostled aside. So part of our retirement planning is to sell the London house and buy a home back North where I'm from. Probably up a hill to avoid rising sea levels :(
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Permalink Reply by John McMullan on
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Buy a yacht ;)
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Ah, a yacht. Also known as a hole in the water into which money is poured ;)
I don't think my little 2 bed terrace in SoTo is quite up to trading in for a yacht. Maybe a couple of inflatable tubes and a paddle...
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Apparently the trend for old people now Is actually to want to sell up and move further in towards the city centre and buy somewhere with good security and generally as close to the lively cultured centre of a city as they can get.
Can't remember where I got at from though, could be rubbish.
But if true, it's probably just a pipe dream now for most unless they are downsizing a lot. Makes sense through and probably explains some of the London population increase now.
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Look at this, over 34% increase in asking price in 6 months ...
http://www.zoopla.co.uk/for-sale/details/30890598?search_identifier...
... And it may may will sell for more. That's roughly 6% a month increase for 6 months straight. How much longer can that go on for ?
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Billy, there is a point when the youth will just burn the frigging place down if they have no hope of ever escaping rent servitude. We have doctor consultants complaining about the difficulty of owning a home anywhere near to where they work. What hope is there for people of lesser abilities or life opportunities ?
If you're not in the tent pissing out, you're out the tent pissing in.
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Leaving aside that about 1 in 8 people in the UK live in London, this is a local forum for a place and community within London. So what exactly is your problem with discussing a London issue?
But housing affordability is a national issue. Even areas which are still underwater are very expensive for local buyers. Regional prices are lower but so are wages.
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Permalink Reply by Justin Guest on
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That's an interesting thought. I was in Germany when I was 16, mid 80s, and was amazed by how many folks lived in rented accommodation, and often stayed in the same apartments for generational lengths of time.
Perhaps we are moving back towards this model, after all I seem to think it was only really the Thacherite dream that was sold to us about being a home owning population, no?
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