Anyone else moving out of London

Person_one

AdrianC wrote: »

Below average for the region, and only just above average nationally is still not "reasonably well paid", though, even if those who are paid even less would be happy.


Umm, I hate to break this to you, but living in London is kinda what this whole thread is about...

Is there really any need for sarcasm? The thread seems to be about the OP's distress that despite earning 30K which is above the national average and more than enough to allow him to own a home to raise a family in in most of the country, because he's from London he might have to face leaving his family and friends and support networks and moving hundreds of miles to somewhere he doesn't particularly want to live, or possibly re-thinking his future plans and hopes.

Do you think its ok that a person earning 30K has basically no hope of owning a modest home to raise a family in this country's capital city? I was sympathising with the slightly rubbish situation he's in. Its not as bad as someone sleeping on the streets or crossing the med fleeing ISIS, no, but its not fantastic either and the housing situation in London and the SE should not have been allowed to get this bad.

ThemeOne

*Some* ex council places are worth considering. The accommodation is frequently to more spacious standards than in private developments, are solidly constructed, and as the freeholder is usually still the Council, they usually do a reasonable job at maintaining the property as they're more accountable.

always_sunny

Person_one wrote: »

Is there really any need for sarcasm? The thread seems to be about the OP's distress that despite earning 30K which is above the national average and more than enough to allow him to own a home to raise a family in in most of the country, because he's from London he might have to face leaving his family and friends and support networks and moving hundreds of miles to somewhere he doesn't particularly want to live, or possibly re-thinking his future plans and hopes.

Do you think its ok that a person earning 30K has basically no hope of owning a modest home to raise a family in this country's capital city? I was sympathising with the slightly rubbish situation he's in. Its not as bad as someone sleeping on the streets or crossing the med fleeing ISIS, no, but its not fantastic either and the housing situation in London and the SE should not have been allowed to get this bad.

But the reality is that 30k/year in 2016 is a very small wage especially for a family and in a capital city. It's NET £1,963.93 a month. Even rent would be unrealistic (£1,963.93/3=£654) for a 3 bed home.

Not a flat, a home. Not 2 bedroom but 3. So not so modest.
Was ever possible for someone on £30k (or equivalent of in the past) to buy a 3 bed home in the capital?

[Deleted User]

A £30k salary and £60k deposit? Sounds like a divorce with kids needing space? The lowest prices for 3 bed houses in the London 'zone' is about £200k, and you need to look at towns in Essex (Barking, Dagenham). I have a friend earning £40k and has a £100k deposit - even she hasn't got much choice in terms of flats in the area of London she wants to move to (and it's Zone 6).

If you look further out, there're 3 bed houses in the towns near the Essex coast. Go out more and you'll find there're houses in Bedford and Milton Keynes.

Your problem is that 3 bed houses have shot up in price over the last few years. We had to shell out £300k 5 years ago, and now you'd need to spend closer to £500k to buy it.

Go up to Manchester and you'd have the pick of thousands of houses.

Person_one

always_sunny wrote: »

Was ever possible for someone on £30k (or equivalent of in the past) to buy a 3 bed home in the capital?

Surely they must have been able to at some point or there wouldn't be so many working class or lower middle class people with roots in London? There used to be cheaper parts of London but I suppose they've mostly 'up and come' now and are as unaffordable as anywhere else!

They certainly still can in large swathes of the rest of the country so why should everybody just calmly accept that its impossible for ordinary, average earners to own a modest home in the capital city? Doesn't London need average and lower earners? Should they all have to live in beds in sheds until they get too old for that and then they have to move to Sheffield or Warrington?

Person_one

always_sunny wrote: »

the OP is looking for a 3 bed house so I doubt it's for a single person unless they want to open a B&B!

I'm a single person living in a 3 bed house, its not that uncommon...

I earn less than 30K too.

missbiggles1

Person_one wrote: »

I'm a single person living in a 3 bed house, its not that uncommon...

I earn less than 30K too.

But it wasn't your first time purchase as it would be the OP's. If he were to buy a flat first and build up some equity it would possibly be more viable.

I doubt that there was ever a time in London when a FTB could buy a 3 bed house on one average income, unless it was a case of doing up a complete wreck.

[Deleted User]

The pendulum of home ownership has just swung back in time
We've entered a time in which those on low to middle incomes in the SE are not going to be able to buy - they'll rent. The market might correct itself after Brexit I guess. Due to population pressure, there will always be a 'bottom of the market' ready to buy the 'cheapest' houses; however un-cheap they are.

OP - do you need 3 bedroom for some reason (e.g. dependants) ?

Person_one

missbiggles1 wrote: »

But it wasn't your first time purchase as it would be the OP's. If he were to buy a flat first and build up some equity it would possibly be more viable.

I doubt that there was ever a time in London when a FTB could buy a 3 bed house on one average income, unless it was a case of doing up a complete wreck.

Just pointing out that its not a completely off the wall idea for single person to want more than a 1 bed flat!

My deposit from my equity was not far off the OPs, and I earn less than him. He would have absolutely no trouble at all buying a nice house in a nice area near me, or in loads of perfectly pleasant areas all around the rest of the country.

People keep telling me it isn't possible in London like I don't know that! My whole point in responding to the OP was to agree with him that it shouldn't be like that, its rubbish for ordinary people with roots in London who can't stay there.

Davesnave

Person_one wrote: »

People keep telling me it isn't possible in London like I don't know that! My whole point in responding to the OP was to agree with him that it shouldn't be like that, its rubbish for ordinary people with roots in London who can't stay there.

I'm agreeing with you, but the concept of having roots in London may almost have died a death now, for a variety of reasons.

When I was young in the 1950s, about 3/4 of my extended family lived in Greater London, but gradually they moved out, as did their children. There wasn't a single reason; for some it was retirement, and for the younger ones it was education and opportunities that spread them far and wide.

Around the area where I lived, people of a different culture now predominate, so even if I fancied moving back, as I did in my late teens, there's nothing there to attract me. It's the same where my wife lived as child.

I don't feel this is anybody's fault. The world changes, and it's not all down to economics, although anyone whose home turf was somewhere originally cheap, like parts of Notting Hill, would probably disagree!

Having been there and done that, I can understand the buzz that comes from living in London, but I can also see that it's in a constant state of flux. Those who think they have roots there now will see it change much more than I have, and I'll bet in only half the time.