Studio asking prices down a lot - WC1 UPDATED 23rd NOV

Generali

PasturesNew wrote: »

I've never understood why companies rush to be in London.

For some it's because that's where the trained workers are. Banks and media companies for example can draw from a large pool of qualified workers.

PasturesNew

Generali wrote: »

For some it's because that's where the trained workers are. Banks and media companies for example can draw from a large pool of qualified workers.

The flaw with that is that all those trained workers come from somewhere else!

Austin_Allegro

mcfadwmc wrote: »

excuse my ignorance at not being in london

but......

you're talking about two hundred thousand pounds, that's 2 followed by 5 zero's.

for an absolutely tiny box.

personally i'd be gutted if i were working in the good professions listed above and only be able to afford to live in a shoe box where the kitchen,living room and bedroom were all in the same space.... and be paying that price for it

i suppose it's different as it's in london though.

but where do all the people live who have normal jobs though, the people who work in coffee shops, pubs, supermarkets? bus drivers, taxi drivers, etc etc

The studios are absurdly overpriced, I agree, but only relatively so. A big attraction would be that you could probably walk everywhere, so you would save a fortune in car/bus/tube/taxi fares, and would not have to endure the utter, utter hell that is rush hour public transport. (though I ride a bike which is ok).

As for those in 'normal' jobs they either:

1. Are foreign and live 6 to a room
2. Are council tenants (although a lot of those are being phased out in WC1 I think)
3. Are private renters in sitting tenancies with low rents
4. Commute in from miles away - outer suburbs or home counties

neverdespairgirl

hethmar wrote: »

When I went to work for my first employer, I used to have a day release to the little college at Russell Square to learn short hand. That tube station was so old fashioned, with the cranky old lift which I was always nervous of using.

It's still pretty similar now! Which college did you go to?

neverdespairgirl

Austin_Allegro wrote: »

The studios are absurdly overpriced, I agree, but only relatively so. A big attraction would be that you could probably walk everywhere, so you would save a fortune in car/bus/tube/taxi fares, and would not have to endure the utter, utter hell that is rush hour public transport. (though I ride a bike which is ok).

As for those in 'normal' jobs they either:

1. Are foreign and live 6 to a room
2. Are council tenants (although a lot of those are being phased out in WC1 I think)
3. Are private renters in sitting tenancies with low rents
4. Commute in from miles away - outer suburbs or home counties

There are cheap-ish places to live not so far away, in the not quite so nice inner city areas.

Generali

neverdespairgirl wrote: »

There are cheap-ish places to live not so far away, in the not quite so nice inner city areas.

The area north of Old Street but south of Islington always used to be very cheap and incredibly central. Ditto Kings Cross. The latter is also very handy if you fancy some drugs or paid-for sex.

PasturesNew

Generali wrote: »

fancy some drugs or paid-for sex.

No touting for business on the forums.

GDB2222

neverdespairgirl wrote: »

In my periodic rambles around Rightmove, I have noticed that studio prices are dropping a lot.

There is a particular block in WC1 I've been keeping an eye on. It's useful because it's absolutely massive, and mostly studios, so there are always flats up for sale in that block.

A year ago, the cheapest in that block was on for the insane asking price of £240k. Now, the cheapest (as of today) is on for £189k

http://www.rightmove.co.uk/viewdetails-23877521.rsp?pa_n=25&tr_t=buy&mam_disp=true

When I was at university, I knew someone who lived in a studio in that block. His parents had bought it for £40k in 1995.

You can now buy a studio of the same size for the same money at the gorgeous Beaufort Park development, sandwiched between the M1 and the notorious Grahame Park estate.
http://www.stgeorgeplc.com/index.cfm?articleid=31
These are, according to the saleslady, selling very well, and they are not offering any reductions. She somehow managed to keep a straight face whilst telling me this. 2 bed flats are £460k. :rotfl:

neverdespairgirl

GDB2222 wrote: »

You can now buy a studio of the same size for the same money at the gorgeous Beaufort Park development, sandwiched between the M1 and the notorious Grahame Park estate.
http://www.stgeorgeplc.com/index.cfm?articleid=31
These are, according to the saleslady, selling very well, and they are not offering any reductions. She somehow managed to keep a straight face whilst telling me this. 2 bed flats are £460k. :rotfl:

Blimey, who on earth would pay that in Hendon?

PasturesNew

GDB2222 wrote: »

notorious Grahame Park estate.

That is where my friend lives. God knows what the compulsory purchase will be on his ex-council flat, but one thing's for sure: whatever it is (2-bed flat), it won't even buy a studio on the replacement blocks. He's quite concerned at being homeless by the whole thing; great uncertainty.

And although it's a cr4p estate, his service charges and extras are astronomical, for ridiculous things bearing in mind the whole lot might be torn down.