Is anyone else currently buying in London? Isn't the frenzy putting you off?

zarf2007

demontfort wrote: »

I assume you live in Knightsbridge or Hampstead on the Hill then?Cue the template shallow minded London property owner response, “No I live inone of the most sought after streets in the up and coming Wandsworth Village,we have an award winning organic candlestick maker on the high street, an art housecinema run by a co-operative of Namibian dwarves that only shows Norwegian filmsand my flat has doubled in value in the last month.”

Well I don’t thinkmuch to Leyton either, it is a dump and always will be. But at least I got a decent flat,relatively cheap with a great view. Rather than these clowns who pay half a million for half acramped terraced house in some mediocre part of South West London with council estateson their doorstep and then spend their time telling people how great their dumpof an area is.

The difference is I accept my lot and don’t delude myselfthat just because I own a pile of bricks and mortar In London then I’ve made it.As for the Midlands I like it and know I could buy a nicer house there than youcould ever hope to own in London. In the case of the North East you need to go backthere and open your eyes. Once you get out the town centres the deprivation in Newcastleand indeed parts of Durham is terrible, yes there may be a few swanky wine barsand pretentious restaurants but in my mind that doesn’t make an area or city good. :rotfl::rotfl::rotfl::rotfl:

actually I own a two bed/two bathroom (30 years old) flat in N21, and at around 1000 square feet it is bigger than most poxy new builds now....although I bought it for £285K most properties in my street are £850K+ so I think i have a bargain.

as for the deprivation in newcastle/durham, all cities have dodgy areas but generally salaries suck anywhere but London/South east.

Why do you think people (including you) move to London? because you will not get a better paid job anywhere else in the country......so if you dont like it, quit whining and leave? i have met so many people like you who move to London and keep knocking it and it gets boring.

padington

Looks like the poorer area's of London are going to be the ones rising fastest from here on in ....

http://www.standard.co.uk/news/london/average-london-home-will-cost-650000-by-2020-report-warns-8993294.html

(Been saying wood green, in harringay for a while) ...

Halle71

padington wrote: »

Looks like the poorer area's of London are going to be the ones rising fastest from here on in ....

http://www.standard.co.uk/news/london/average-london-home-will-cost-650000-by-2020-report-warns-8993294.html

(Been saying wood green, in harringay for a while) ...

I've written about our BTL but our house is a bit more bonkers.
It's not in one of the areas mentioned above, but definitely a poorer area, quite run down and lots of HMOs when we moved in 2009. However the pointers were there - good, affordable housing stock (lovely Edwardian 3 bed terraces £250-290k) bordered by desirable postcodes (SW16/17) and good transport links.
We bought for £288k August £2009, spent about £60k tarting it up and converting the loft and had it valued in June by two EA who agreed £500k.
One of them called last week and has now valued it at £600k. It seems ludicrous that it could have increase £100k in 6 months and this isn't refected in any of the stats being touted by various financial institutions. However this is based on a similar house that doesn't have the ground floor extension and loft that we have (ie 40 sq m less) that had a highest sealed bid of £559k. It was on the market at £520k and the EA told me buyers are using the marketing price as a guide and invariably going over.
Like I said bonkers.

My top tip for another future hot spot - South Norwood.

padington

China's investment in London has been staggering, they maybe they understand the supply and demand dynamics a bit better than the HPC gang ?

http://www.zerohedge.com/news/2013-12-13/chinas-colonization-london-hits-ludicrous-speed-and-now-its-detroits-turn

Road_Hog

I left London in 2000, having lived there since 1973. I've never looked back, it's a s'hitehole.


My parents and inlaws (Twickenham & Acton) still live there, so I still do visit, but only under protest.


It is awful, dirty, congested and full of people who are not British.

fluffpot

Road_Hog wrote: »

I left London in 2000, having lived there since 1973. I've never looked back, it's a s'hitehole.


My parents and inlaws (Twickenham & Acton) still live there, so I still do visit, but only under protest.


It is awful, dirty, congested and full of people who are not British.

With that sort of racist attitude, London think's you're a shithole too!

:rotfl:

Road_Hog

fluffpot wrote: »

With that sort of normal attitude, London think's you're a great bloke too.

Oh, is it bad to find that Britain is not populated by British people.


I'm a wayciiiiiiiiiiiiiiiiiiiiist then.

AndyGuil

Road_Hog wrote: »

Oh, is it bad to find that Britain is not populated by British people.


I'm a wayciiiiiiiiiiiiiiiiiiiiist then.

London is close to the UK average for British people. ~75% vs ~85%

Road_Hog

AndyGuil wrote: »

London is close to the UK average for British people. ~75% vs ~85%

London has 45% white British people. That means that there is more johny foreigner that indigenous population.


http://www.itv.com/news/london/2012-12-11/white-british-the-minority-in-london/

AndyGuil

Road_Hog wrote: »

London has 45% white British people. That means that there is more johny foreigner that indigenous population.


http://www.itv.com/news/london/2012-12-11/white-british-the-minority-in-london/

Being white is not a requirement to be British. There are 3 times more British than foreigners in London.