Good times to be a London landlord

lisyloo

padington wrote: »

No, rich older people want to be as close to the London action as possible. They want to be in walking distance of theatres,
Cinema's, museums, galleries and close to the best shops.

The dream of ending it all in the countryside is over.

I don't know any older people who want that.
Most of them seem to like gardening and a quiet life.

Is the conclusion therefore that people like what they are used to?

chucknorris

lisyloo wrote: »

I don't know any older people who want that.
Most of them seem to like gardening and a quiet life.

Is the conclusion therefore that people like what they are used to?

There is no way that anyone could force me to live out my remaining years in London. I want to enjoy the rest of my life, and I will do so in a rural environment.

padington

lisyloo wrote: »

I don't know any older people who want that.
Most of them seem to like gardening and a quiet life.

Is the conclusion therefore that people like what they are used to?

It's the trend. It's why London is going to grow so fast, the oldies want to stay and those becoming oldies have no plans to go. Obviously that can include a lovely garden also like many London properties enjoy but actually the research that I saw said - secure properties that were not too much work to maintain which were within walking distance of lots of culture, was the desired way to play out the last few chapters.

padington

chucknorris wrote: »

There is no way that anyone could force me to live out my remaining years in London. I want to enjoy the rest of my life, and I will do so in a rural environment.

Good luck, bet you get bored though.

lisyloo

padington wrote: »

Good luck, bet you get bored though.

there's more to life that cinemas & theatres !!
For example - fishing, horse riding, dog walking, gardening, driving, riding motorbikes, riding bicycles, scuba diving etc.

I see few elderly people in London in the cinemas and theatres and even on the buses and tubes (and I'm always looking for people older than me who might need my seat).

I can see many many benefits of moving out (and it doesn't have to be to the stix). The financial incentives are enormous.

I would have thought for a lot of people the reasons are more likely to be centered around family than cinemas.

economic

yes i would agree its more centered around family.

kabayiri

I'm not sure about the countryside around London, but people have already got wise to cashing in and buying in the scenic villages in somewhere like the Peak district.

I was looking about for sis in recent months for another property. Nice property in villages with character didn't hang around. In the end, we found another property in Western Canada for similar money but with spectacular views.

You best be quick.

cells

lisyloo wrote: »

there's more to life that cinemas & theatres !!
For example - fishing, horse riding, dog walking, gardening, driving, riding motorbikes, riding bicycles, scuba diving etc.

I see few elderly people in London in the cinemas and theatres and even on the buses and tubes (and I'm always looking for people older than me who might need my seat).

I can see many many benefits of moving out (and it doesn't have to be to the stix). The financial incentives are enormous.

I would have thought for a lot of people the reasons are more likely to be centered around family than cinemas.

maybe it has something to do with average age of having kids.

In the old days a woman had their kids before age 25 and they were grandparents before age 50. They helped look after the gradkids and bond with them for say 10-15 years and then went off to retire in the country from age 60 onwards

Well if a woman has kids at 30 and their kid had kids age 35 then they are already 65 when they become grandparents. if they help out for 10 years they then become quite old age 75 in which case whats the point going to the country you aint going to be riding motorbikes at that age.

So instead of vacating the city age 60-65 they stay

chucknorris

padington wrote: »

Good luck, bet you get bored though.

We moved out of London in 2005 and we haven't regretted it at all, down here in Dorking I can be jogging, cycling or walking in great countryside with my wife and dog (off lead) within 5 minutes drive from my house. London served its purpose for us, it helped us to become wealthy, but we wouldn't want to live there again.

Although saying that, last year I did half heartily suggest to my wife that if we moved back there for a few years, we could reduce our future CGT bill by about £150k (remember that would be an actual net gain), but she said there is no way that she would move back there, life is far better down here in Surrey, and she was right, it would be a huge lifestyle compromise to move back to London.

lush_walrus

No real surprise there and not really a sign of any financial growth. Tower Hamlets as a borough's main demographic is recent immigrants from Pakistan, who have larger families. Rather than the now typical one child per family on Britain, Tower Hamlets has an average of 3 or 4.

It's incredibly overcrowded, a lot of flats which are 2 or 3 bed have 6 or 7 people living in them and is a very poor borough. The vast majority of housing is owned by large housing associations such as Poplar Harca who are working through their old housing stock, demolishing and rebuilding to a denser model.