London Rental Property Market - Still crazy afer all these years!

[SteCenturion]

Probably cost £500k+ in Greenwich though
You've presumably been paying your mortgage for a while

12 years, 8 left, although we may need to treble or quadruple that £££ in a future move.

I still can't get my head round Londoners getting mugged on property.
2 bed flats for £300 - £500k or a 5 bed detached in an affluent area with sprawling gardens for the same money up North.

Even the pay disparity doesn't account for it.

 

[gbb]

Just another perspective on it, talking to a local councilor recently, even places like Peterborough have a new phenomenon, foreign investors buying up property for the lettings market. Problem is (her words) it's purely an investment. they never even see the property. inevitably they are let to the limit to maximise profit and often don't get the maintenance done for the same reason .
I'm sitting on a gold mine . Mortgage of £200 a month..2 years left and I could let it for £600 a month. The tent in the shed is beginning to look an attractive proposition

 

[Brains]

Probably cost £500k+ in Greenwich though
You've presumably been paying your mortgage for a while

... and the rest!
£500K in Greenwich would get you a 1 bed flat, maybe.
Bog standard 3 bed Victorian terraced houses, outside the centre start at a Million quid.

 

[Brains]

... and the rest!
£500K in Greenwich would get you a 1 bed flat, maybe.
Bog standard 3 bed Victorian terraced houses, outside the centre start at a Million quid.

Check out this one!
Sold for £775K and with a minimum £150K worth of work needing doing to it (if you have mates in the building trade, and £200K+ if you dont)
http://www.rightmove.co.uk/property-for-sale/property-55738918.html
They had buyers queueing out of the door!

 

[Mrs M]

A friend has just sold his 5 bed house in Aberdeen for offers over £850,000.
A couple from London bought it. They sold a 2 bedroom flat in London, managed to buy the house up here and couldn't believe what they got for their money.
The house had a £30,000 kitchen fitted recently but not to the new owners taste so they've ripped it out!!!!

 

[PK99]

12 years, 8 left, although we may need to treble or quadruple that £££ in a future move.

I still can't get my head round Londoners getting mugged on property.
2 bed flats for £300 - £500k or a 5 bed detached in an affluent area with sprawling gardens for the same money up North.

Even the pay disparity doesn't account for it.

D1's 1 bedder would sell for a shade over 500k.

 

[MarquisMatsugae]

It's Radio Rental these days ,but people will pay over the odds for city life.
Young professionals want everything on their doorstep .

 

[MarquisMatsugae]

At a similar price point in leafy Cheshire

This

View attachment 156246

& this

View attachment 156247

& no poncy shandy for miles around.

Two words
Farking hell

 

[stephec]

Using the old three times your salary formula for a mortgage, everyone in London must earn at least £200 000 pa.

How do office workers, bus drivers, shop assistants etc afford a house?

 

[stephec]

Using the old three times your salary formula for a mortgage, everyone in London must earn at least £200 000 pa.

How do office workers, bus drivers, shop assistants etc afford a house?

 

[srw]

Using the old three times your salary formula for a mortgage, everyone in London must earn at least £200 000 pa.

How do office workers, bus drivers, shop assistants etc afford a house?

Flatshares. The sort of thing that 30 years ago would have been described as student accommodation.

 

[stephec]

Flatshares. The sort of thing that 30 years ago would have been described as student accommodation.

Just like the good old days.

 

[Svendo]

& Ryan Giggs gaff, Worsley, Salford.

View attachment 156254

Full on McMansion.