Buy or Rent in the London Area

estheromalley

Assuming that I DO sell my house within the next twelve months can someone advise me of the price of a two bedroomed apartment in a reasonable area of Greater London.

If someone could tell me the average rental price as well as a purchase price of a 2 bedroomed, that would be even better!

Ta very much.

lady123_2

all depends, where are your looking to move to? you could pay 2m or 200,000, ares like highbury/islington,stokenewington church st,north london which are quite close to everything you can pick up a nice 2 bed convertion for between 230-300k, primrose hill highgate do the lotto,lol

estheromalley

Thanks, not sure where to move to yet ....... it all depends on what I can afford when I sell this house up here in the frozen north, lol.

I am also considering giving up the house ownership lark once and for all. If I rent, I would not have to worry about mortgage and maintenance and all that stuff. I really am through with the stress of mortgage ups and downs .... and when I am too old to look after myself, I am damned if I am going to sell my house to pay for healthcare, lol.

Thanks for taking the time to respond.

Could share with my children .......... aaaaaaaaaaaaaarrrrrrrrrrrrrrrrrrggggggggggggggggghhhhhhhhhh!

Eliza252

Weeell.. two bedroom covers alot of rental slots in London!
I have a two bedroomed flat which I share, its actually a one bedroomed flat we use the living room as a bedroom which cuts the price massively
But as a guide, I live in a two bedroomed flat in Liverpool street, no living room for £200 ish a week. The further out you go (in terms of zones) generally the cheaper it will be, but you MUST take the following into consideration:
Council tax for a nice falt in Hammersmith is horrific, well over two hundred a month. Whereas my flat (the same size) in Liverpool Street £80 a month, I always work out the council tax and then add it on to the rent I am paying so I dont forget about it!
- Also look into where your flat is in relation to work/ where you want to traval - public transport in london is very expensive (I'm mainly referring to the tube tickets here) so dont assume you have found a bargain in zone 3 if you have to traval to zone 1 for work!!
- So I guess its Location, Location, Location (as usual!)

Mango

i used to live in a 2 bed flat in palmers green in north london - the rent was just under 800 a month and the council tax 120 a month. i found that living somewhere not directly on the tube but still with good access to public transport (20 mins to central london on train/20 min walk to nearest tube) was a lot cheaper. also you can get a lot more for your money in south london i've heard.

Lemoncurd

As others have said it does vary enormously depending on area and property.
A good guide is https://www.findaproperty.co.uk I've always found it great when looking for places to live in London.

I used to live in a 2 bed place in the Borough of Richmond, lovely area. It was £1000pcm and that seemed to be the average there for a 2 bed although you could get some for around £800. To buy the same property would have been around £290,000 (you did get a lot for your money though - a large 2 bed 2 bath luxury riverside appartment with full length balcony directly overlooking the Thames, 24 hr concierge and gym). 2 bed properties in the area started at around £200,000.

lady123_2

Lemoncurd wrote:

As others have said it does vary enormously depending on area and property.
A good guide is https://www.findaproperty.co.uk I've always found it great when looking for places to live in London.

I used to live in a 2 bed place in the Borough of Richmond, lovely area. It was £1000pcm and that seemed to be the average there for a 2 bed although you could get some for around £800. To buy the same property would have been around £290,000 (you did get a lot for your money though - a large 2 bed 2 bath luxury riverside appartment with full length balcony directly overlooking the Thames, 24 hr concierge and gym). 2 bed properties in the area started at around £200,000.

when was that ,recently 290k for a riverside flat with 24hr security seems a steel

Lemoncurd

Lady123, here is one of them available now http://www.findaproperty.co.uk/agent.aspx?agentid=3329&opt=prop&pid=259293 the picture doesn't do it justice though.

estheromalley

Thanks so much for a really helpful response. I am laughing, as I used to live in London and now I am asking other for advice!

As soon as my property up here in the Lake District is sorted out I shall look into it all ..... perhaps even consider doing a temporary "house swap".

stratford_2

There's always East London to consider depending on how your budget is going. I can give you an idea on prices in Stratford as that's where I've been for the last few years (previously renting in Fulham & Putney).

The sale price for an older purpose built flat 2 bed flat would be around £150k (£160k ish for a conversion) and about £160-170 per week to rent. Add a fair chunk more for a new build. This would be around 10-15mins from the tube/rail in zone 3

2 bed victorian terrace for around 200k to 210k less than 10 mins to the tube.

As people have said, things could be cheaper further out, but this really does depend on area!

Pal

Where do you work? A lot depends on where in London you need to get to on a regular basis.