Crazy London prices

Metranil_Vavin

I think you're laughing if you own a property in London right now and have plans to sell up and move away.

However if like us you are wanting to upsize due to the family growing, it looks pretty bleak. It's all very well our maisonette being silly bucks, but 3 bed houses start at around 600k round here, there's no way we can afford that even with good equity in our place.

Moving out of London is becoming more and more attractive.

115K

dacouch wrote: »

http://www.standard.co.uk/news/london/londons-100bn-property-boom-as-last-homes-under-100k-are-snapped-up-9082716.html


The vast scale of property wealth in London means the 10 wealthiest boroughs alone are valued at £609 billion, more than all the houses in Scotland, Wales and Northern Ireland combined.

My God, the figures are staggering!:eek:

dacouch

115K wrote: »

My God, the figures are staggering!:eek:

I've been in quite a few flats and houses worth £10m to £30m and they are really really impressive.

It really is a different world.

I know of an exclusive block of 100 plus flats where the management fees are £300k a year and the owners pay £150k for each underground car parking space. Many of the owners have two or three spaces and being at this end of the price bracket is one of numerous properties they own around the world so they only spend literally two months a year in London

Lily-Rose_3

Must admit. I would never pay those prices, even if I could afford it.

FreddieFrugal

Glad I'm nowhere near London then!

jaylee3

Metranil_Vavin wrote: »

A friend of mine has just put her 2 bed flat on the market.

It's nice enough, but nothing amazing..converted flat in a Victorian flat fronted building, noise from above and below is pretty bad, and her flat door opens straight onto the living room which isn't ideal.

It's on a shade under £300k in an unfashionable part of SE London.

31 viewings booked for Saturday! :shocked:

They're doing an open house to ramp up the competition, and I imagine she will have at least a couple of offers by the close of play on saturday.

Bonkers.

31 viewings! :eek: They're going to be knackered!

Metranil_Vavin

Sensibly my friend is out of town for the weekend so the Agent is doing the open house viewings.

I'll be interested to hear if she gets an/any offer(s) and if they exceed the asking price.

I_have_spoken

The incentive to cash-in and move to the West Country ('white flight') is huge.

Glad I packed-in commuting to London in 2012!

Cloudydaze

Metranil_Vavin wrote: »

I think you're laughing if you own a property in London right now and have plans to sell up and move away.

However if like us you are wanting to upsize due to the family growing, it looks pretty bleak. It's all very well our maisonette being silly bucks, but 3 bed houses start at around 600k round here, there's no way we can afford that even with good equity in our place.

Moving out of London is becoming more and more attractive.

I'm the same. Have a 2-bed flat in SW London - probably worth over £500k. It's lovely because it's mine but it's pretty much like every other Victorian maisonette - nothing special. I'd love to stay in the area and get a house but houses are completely unaffordable.

I could sell up and move to a cheaper area but my job doesn't really exist outside of London & I don't want to spend half my life commuting.

Metranil_Vavin

Anything round our way coming onto the market the the moment seems to be snapped up within a day.

It seems you need to forge a good relationship with the local estate agents if you want even a hope of getting in to see anything new and decent that comes on.