Anyone else moving out of London

Dird

cloo wrote: »

Birmingham will have a commutable time to London (49 mins), with HS2

I still hope they will scrap this joke.You can already get a 1hr15m train, is it really worth £55bn to cut 25 minutes off a journey?

Person_one wrote: »

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?

It's not ideal but it's the way it is & salaries reflect this. If properties dropped in London so you could buy for £150-200k then many people from around Britain would then move for the higher salaries + cheap housing, then demand would send the prices up again.

Kevie192 wrote: »

Depends on the industry you work in... I earn 60% more in London than I would anywhere else in the country.

"Earnings" are a very misleading as your rent will be much higher but the taxman doesn't factor this into his cut. Could you really only make £24k vs £60k London or is that just the job hop you did? I could probably hop to £60-80k London too but it would also be possible to job hop to £50k here & ultimately be better off

AdrianC

Dird wrote: »

Could you really only make £24k vs £60k London

Umm, 60% more than £24,000 is £38,400.

Brightspark87

I moved to Bristol for that same reason OP. No way we could buy a house or even a little flat in London.

I took a paycut but DH got a pay rise! We just bought a 2 bed terrace lovely garden etc £250k, however you can get cheaper ones - including 2 bed for less than £180k in certain areas. That would be affordable for you.

Most of my family and friends are SE and London but we make it work. Esp having a spare room for them to stay.

I have to say (aside from some neighbour issues which is possible anywhere) it is a lovely part of the world with much more of a work life balance.

ap1985

AdrianC wrote: »

Is £30k "reasonably well paid"? National average full-time salary is £27,500, £34,600 in London.

Not in London, i personally think it has hard to survive off 30k in London on your own!

ap1985

"Earnings" are a very misleading as your rent will be much higher but the taxman doesn't factor this into his cut. Could you really only make £24k vs £60k London or is that just the job hop you did? I could probably hop to £60-80k London too but it would also be possible to job hop to £50k here & ultimately be better off[/QUOTE]


I agree they are very misleading! I was on a good enough salary in London however, still buying a home in the Capital was a forever dream, so I decided to move out!

Dird

AdrianC wrote: »

Umm, 60% more than £24,000 is £38,400.

I took it as outside London = 40% of salary. He says he makes £60k London so £37.5k outside then. After 4% pension & no SL that's £3.4k vs £2.3k...with people on The Apprentice spending £8 for an empty sandwich I'm not sure the £1.1k would leave someone better off. Outside London his essentials could be £700/month near Birmingham with a mortgage, do you near to £1.5k left after essentials in London? If you family is there, can't you stay with them?

Edit: Oh forgot about roomshares/spare rooms, seems you should be better off as you can get a bedroom for £700/month all bills included

Mallotum_X

You will need to be looking further out on that budget.


Milton Keynes has a handful of 2 and 3 bed houses at your budget, but not many and not in great locations.

180k might get a two bed Victorian terrace in need of modernisation in Luton or some ex-council, but really will be stretching it. 25 mins on the train to St Pancras.

If you are prepared to head further out then your budget will go further, eg Bedford, Northampton but you are looking at a much longer commute back in.