millennials-can-you-afford-rental-prices-in-london

DRFC1879

Fair do's, to each their own I suppose. I just find it all a bit baffling.

[Deleted User]

The irony is my job isn't location dependant and my head office is in Leeds...

Still, going home to Bury feels like stepping back in time 25 years. It did use to upset me looking at Rightmove and realising I could have a nice big house up north; then I remembered my childhood summers of endless grey skies. Also, my house has risen in value considerably more than anything back where I grew up. It's harder here, so it pushes me more to try to do better and better.

I'm only 'just' a millennial, being born in 1980, so don't have the typical 'Guardian' Millennial problems (i.e. need to moan a lot about not being able to afford to live in an expensive city on a graduate wage)

westernpromise

DRFC1879 wrote: »

The thing I can't understand is the huge attraction of living in London that means people are prepared to work long, hard hours at decent jobs to live in squalid little house shares and the like, paying rent for the rest of their lives.

It's the expectation of adding a 0 to your salary by the time you're 45, and then downshifting to somewhere nice.

Case in point, my wife and I have middle management jobs. We live in Doncaster. I commute to the outskirts of Leeds and she is based a little more locally. On a joint gross income of around £80k p/a we've got a four bed detached home with a decent sized garden on a quiet street in a decent part of town bought brand new 2 years ago for a shade over £200k.

Yes, but you live in Doncaster.

My commute is over an hour each way in the car anyway.

And even then, your commute is over an hour each way in the car anyway.

economic

the price rises in london should easily be able to tell you theres clearly a lot of people wanting to live in london as opposed to areas like doncaster....

even within london you have areas in higher demand (relaive to supply) then others. and its these areas that have gone up more then the less in demand areas and quite noticibly so. the price is the price and one should never argue against it.

Location, location, location.

DRFC1879

I take your point about Donny not being the nicest place in Britain. I have spent the last thirteen years travelling the length and breadth of the country (and sometimes beyond) for work and most places are fairly similar though. Every town/city has nice bits and crap bits.


In the big cities the nice bits are nicer (and disproportionately more expensive) but the bad bits are generally much worse. You get more gun, knife and gang crime in Birmingham, Nottingham and London but it's generally in the bad areas.


Either way, I find it good to live in a decent house in a decent area with plenty of countryside around so I can enjoy quality time with my five-year-old son which I don't think I'd do so much in an inner city. The point is moot though as I said above, to each their own. I was just interested in the draw of central London that makes it SO appealing and the answers have been somewhat enlightening. Anyway, that's me done uncharacteristically early so I'm taking a POETS day. have a good weekend and cheers for the replies.

economic

DRFC1879 wrote: »

I take your point about Donny not being the nicest place in Britain. I have spent the last thirteen years travelling the length and breadth of the country (and sometimes beyond) for work and most places are fairly similar though. Every town/city has nice bits and crap bits.


In the big cities the nice bits are nicer (and disproportionately more expensive) but the bad bits are generally much worse. You get more gun, knife and gang crime in Birmingham, Nottingham and London but it's generally in the bad areas.


Either way, I find it good to live in a decent house in a decent area with plenty of countryside around so I can enjoy quality time with my five-year-old son which I don't think I'd do so much in an inner city. The point is moot though as I said above, to each their own. I was just interested in the draw of central London that makes it SO appealing and the answers have been somewhat enlightening. Anyway, that's me done uncharacteristically early so I'm taking a POETS day. have a good weekend and cheers for the replies.

agree with your points here. one of the reasons why i chose highgate is because its got the best of both worlds - open spaces and woodlands as well as being close to the centre. of course its expensive which is why i only have a 2 bed average sized flat there.

Lokolo

DRFC1879 wrote: »

I take your point about Donny not being the nicest place in Britain. I have spent the last thirteen years travelling the length and breadth of the country (and sometimes beyond) for work and most places are fairly similar though. Every town/city has nice bits and crap bits.




In the big cities the nice bits are nicer (and disproportionately more expensive) but the bad bits are generally much worse. You get more gun, knife and gang crime in Birmingham, Nottingham and London but it's generally in the bad areas.


Either way, I find it good to live in a decent house in a decent area with plenty of countryside around so I can enjoy quality time with my five-year-old son which I don't think I'd do so much in an inner city. The point is moot though as I said above, to each their own.

Although I agree about each to their own. I live in a place that everyone else hates, but no-one ever really leaves.

However the bigger point is that you don't have to live where you work. You have an hour commute, I have a 1h25min commute. I live surrounded by green belt land, am a 20 minute drive to the middle of nowhere if I wanted to, country pubs, country villages etc. But I earn the same as you and your wife combined and I suspect I am a lot younger than you (I am mid/late 20s).

I would never ever live in London, but the earning potential is huge.

[Deleted User]

I'm surrounded by greenbelt land and have a train station in the village that gets me to Euston in 35 minutes. Hurray for living outside of Zone 6.

Ok, a 4 bed house costs £600k...

Anyway - i realise this has become a 'South Vs North' thing - and it's really more about the plight of young people, who've indebted themselves through education, that the education doesn't make way for jobs paying high enough to get them on the property ladder in the areas that are most desirable to live (and work) in.

Hutchch0920

OP mentioned how they know of late 20s earning £100k+ a year. Being a late 20s I've had a think about my friends, what they do, and how much they earn in London. So off the top of my head (all accurate within a couple of thou...)

Me (27) £32.5k
OH (25) £15K
Best Friend 1 (25): £19k
Best Friend 2 (23) Nadda (she's a student)
Best Friend 2 boyfriend (29) <£25k
Best Friend 3 (26) £35k
Old housemate (24) £26k
Old housemate 2 (27) <£20k
Work colleague (25) £26k
Work colleague (28) 32-34k
Work colleague (28) £40-42k
Work colleague (34) £45k ish
OH Best Friend (23) £24-28k
BF from Uni (26) £60k

I am not in the habit of grilling people on their salary but these are the ones I know about. There's two girls that have done pretty well for themselves, one is training to be an accountant and works for one of the big 4 so I am pretty sure she's on a fair bit. The other one is a girl I know from uni, when she moved to London five years ago she started on £35k and she's a really hard worker so I can only dream of what she's on now.

Anyway, I am sure I have many bright and well off peers yet from my personal experience this is by no means the norm.

As it stands at the moment I can't stay in/around London and be able to afford to live in a family house so I can start a family.

CLAPTON

Hutchch0920 wrote: »

OP mentioned how they know of late 20s earning £100k+ a year. Being a late 20s I've had a think about my friends, what they do, and how much they earn in London. So off the top of my head (all accurate within a couple of thou...)

Me (27) £32.5k
OH (25) £15K
Best Friend 1 (25): £19k
Best Friend 2 (23) Nadda (she's a student)
Best Friend 2 boyfriend (29) <£25k
Best Friend 3 (26) £35k
Old housemate (24) £26k
Old housemate 2 (27) <£20k
Work colleague (25) £26k
Work colleague (28) 32-34k
Work colleague (28) £40-42k
Work colleague (34) £45k ish
OH Best Friend (23) £24-28k
BF from Uni (26) £60k

I am not in the habit of grilling people on their salary but these are the ones I know about. There's two girls that have done pretty well for themselves, one is training to be an accountant and works for one of the big 4 so I am pretty sure she's on a fair bit. The other one is a girl I know from uni, when she moved to London five years ago she started on £35k and she's a really hard worker so I can only dream of what she's on now.

Anyway, I am sure I have many bright and well off peers yet from my personal experience this is by no means the norm.

As it stands at the moment I can't stay in/around London and be able to afford to live in a family house so I can start a family.

I think you are new to the board so I'll update you with the rules

-nearly everyone here was born in poverty
-everyone worked incredibly hard and pulled themselves up by their bootstraps with no help from anyone
-most of the people they grew up with were wasters who are now single mums
-they are all now highly successful with £100,000 + jobs
-they all have a multi million property portfolio
-they all believe that anyone earning less than £100,000 is a benefit cheat whose only ambition is a council flat
-they all believe that London is totally affordable if you only worked hard (just go out and get a better job etc)

that's just for starters : now have I told you about my poor upbringing, the poverty and how I .............