How far will prices fall in London?

neverdespairgirl

Over-priced? Definitely.

Over-rated? Not by a country mile!

RDB

Everyone seems to agree that London aong with the rest of the country is looking at average 50% price drops.

What everyone cant agree on is when it will be down that much.

I think by end of next year or early 2010.

hethmar

Oh dear, Im doing a horse in hat man here, but I was just talking to a new client who is in the business of forecasting building costs etc. and he told me he expects falls to continue til end 2010 :eek:

chewmylegoff

hethmar wrote: »

Oh dear, Im doing a horse in hat man here, but I was just talking to a new client who is in the business of forecasting building costs etc. and he told me he expects falls to continue til end 2010 :eek:

if you were horseinhatman you would've said that he told you that prices are already rising!

Really2

neverdespairgirl wrote: »

Over-rated? Not by a country mile!

Not having ago, have you ever lived anywhere else other than london.

I nearly moved to london 8 years (could be more) ago got a job offer etc. but then looking at property and the lifestyle i thought "it aint worth it"

What would be the minimum you need to earn in london to have a good house in a low crime area (let say 3 bed semi) with good schools and enough money to live on and save at least 1/2 a mortgage payment per month.

When I looked 8 years ago £35K would be a pointless move what is it now should imagine minimum £100K.

London is in for big drops I think.

stevetodd

Really2 wrote: »

Not having ago, have you ever lived anywhere else other than london.

I nearly moved to london 8 years ago got a job offer etc. but then looking at property and the lifestyle i thought "it aint worth it"

What would be the minimum you need to earn in london to have a good house in a low crime area (let say 3 bed semi) with good schools and enough money to live on and save at least 1/2 a mortgage payment per month.

When I looked 8 years ago £35K would be a pointless move what is it now should imagine minimum £100K.

London is in for big drops I think.

It depends on your circumstances, I went to London in the 1990 after graduating because I knew I would get rapid career progression. I moved out in 2005 when I was well fed up with London. It is an ideal place for the ambitious young professional.

neverdespairgirl

Really2 wrote: »

Not having ago, have you ever lived anywhere else other than london.

I
London is in for big drops I think.

Not for long, no.

I lived for a year in the south of Poland, near Krakow, and I have spend a lot of time (from the age of 7 onwards) in the small Kent village where my parents have a house and my sisters live.

Really2

stevetodd wrote: »

It depends on your circumstances, I went to London in the 1990 after graduating because I knew I would get rapid career progression. I moved out in 2005 when I was well fed up with London. It is an ideal place for the ambitious young professional.

I never brought in to that. I am in management now and now earn 250% more than I did back then.
Addmitidly that is less than I could of earend had i gone to london.

But i have a 5 bed detached house in the country in a great area and a minute mortgage by london standards.

Could i achived that in london, I very much doubt it. Ambition pays on how well and hard you work at somthing, not for how long and where.

hethmar

I think it is the place for young professionals because thats where they can get experience under their belts and then move when they marry and have kids and so on with a damn good cv to take with them. I guess it rather depends on the profession you are following and whether that industry experience is avaialable outside of the capital

If you are in a very fortunate position where money isnt the main consideration I should think living in a good London area would be fine whatever your age and ambitions.

Really2

neverdespairgirl wrote: »

Not for long, no.

I lived for a year in the south of Poland, near Krakow, and I have spend a lot of time (from the age of 7 onwards) in the small Kent village where my parents have a house and my sisters live.

Don't get me wrong I have never left my county.:D

But I think a place is never over rated if you are near your family. (and i think that is how the majority of people think)
I presume that is why you find London is not overated either.