When will London burst ?

setmefree2

Typhoon2000 wrote: »

They will have to spend less on booze, fags and Sky TV in order to afford to live in London. And get help from their parents.

Getting help from parents for a deposit is the least of the problems.

Earning the salary/ies required to get the multiples necessary to fund a ginormous mortgage is by far a bigger problem.

Mallotum_X

So many will end up moving out. Which is already happening. The lower priced bits of the home counties with decent rail connections are seeing their own booms as Londoners who want to get on with life move out.

setmefree2

Mallotum_X wrote: »

So many will end up moving out. Which is already happening. The lower priced bits of the home counties with decent rail connections are seeing their own booms as Londoners who want to get on with life move out.

That's the conclusion you have to reach. Or they move in to less desirable areas of London which has been going on for sometime now. However, we seem to be rapidly running out of "up and coming" areas as the whole of London is becoming gentrified.

Season tickets are not cheap either.

[Deleted User]

setmefree2 wrote: »

That's the conclusion you have to reach. Or they move in to less desirable areas of London which has been going on for sometime now. However, we seem to be rapidly running out of "up and coming" areas as the whole of London is becoming gentrified.

Season tickets are not cheap either.

Hello from South Hertfordshire! We moved out from zone 6 because it has started to get more and more 'zone 2-3ish'. We expect that at some point we'll get absorbed into a much larger greater London, one stretching all the way to the M25.

BUT.. house prices have gone up akin to London. House prices are up about 30-35% since we moved here 3 1/2 years ago

The prices now are touching £400k for a moderate family home. I know that's 'cheap' by London standards but not by mine!

TheBlueHorse

where is south herts - I am there and it is in zone 6!

[Deleted User]

TheBlueHorse wrote: »

where is south herts - I am there and it is in zone 6!

I suspect I'm up the road from you Once you get past Borehamwood it all gets much leafier!

BTW, I believe there are plans to extend the use of oyster cards well beyond zone 6, possibly up to Luton airport

TheBlueHorse

Borehamwood itself is gentryfying (sp?) nicely. It was cheap, now houses are £500k plus. some bog standard semis are going for £700k/800k. The high street is finally getting more shops and the shopping park has opened a department store. Plus, all 17 mins from central London on the train. Elstree is nice but expensive. As is Radlett. Then there is not much until you get to St Albans.

[Deleted User]

Less of that, I live between Radlett and St Albans, and it's only 35 minutes from Euston from here on the train :-)

Borehamwood high street has definitely improved, and so has the shopping park - it's a shame there appears to be a plan to fill every other square inch with new-build flats. The traffic is pretty bad around there now too. You're right; it's shocking how much some of that ex-council stock is selling for now.

I suspect a lot of the greenbelt around Shenley/Aldenham/Radlett/Elstree will eventually turn into housing; but I'm not entirely sure how the roads are going to hold up to it.

TheBlueHorse

you've hit the nail on the head. it's all going to grind to a halt with the extra traffic. Only when it is constant gridlock will they try and do something.
You're right, forgot about Park Street and London Colney etc.
I think areas like Borehamwood are just filling up with people that can no longer afford Arkley, Mill Hill, Edgware, Finchley etc. Then as more and more young couples move in, the area slowly changes its dynamic.
A Sainsbury local is opening soon on the high street, where an old pub used to be.

N1AK

Generali wrote: »

Gotta be honest lisyloo, I'm with you. This is so obviously the start of another housing bubble in the UK. Inside a year or two there'll be regions rising at 2-3% a month or something equally daft.

I wish I was that sure, I could make a lot of money on it if I was

I think it's likely (perhaps even 80% likely) that prices in London will increase considerably over the next few years. I'm just not sure I'm comfortable with the considerable risk of a crash/fall.

The average London property is already in the £0.5 million range. A couple of years of 2.5% a month inflation would bring them up around the £850k mark... even with average wages increasing to the mid-£40ks a 20/1 house price to wage ratio across the whole city seems bonkers.