Which UK city is best from a financial perspective (discretionary income, house price rises etc)

StevieJ

lisyloo wrote: »

Yes but it’s quite wet and cold.
Prices are related to desirability, jobs being a major factor but not the only one.

Then again it may also help you (or your children) remain or gain EU citizenship somewhere down the line (eg united Ireland) if you are that way inclined It also quite pretty in most areas. Then again a return to the troubled times of the 70's is not out of the question given the current political situation.

lisyloo

StevieJ wrote: »

Then again it may also help you (or your children) remain or gain EU citizenship somewhere down the line (eg united Ireland) if you are that way inclined It also quite pretty in most areas. Then again a return to the troubled times of the 70's is not out of the question given the current political situation.

Personally I’m not in a position to just up sticks.
I am supporting elderly parents which couldn’t be done from that far away.
The question is theorectical but in practice any who’s involved in care of parents or grandchildren or wishes to see them on a frequent basis
Can’t just up sticks.

I realise this is a discussion, but many people can’t just make a decision on financial costs or a career.

Filo25

StevieJ wrote: »

Then again it may also help you (or your children) remain or gain EU citizenship somewhere down the line (eg united Ireland) if you are that way inclined It also quite pretty in most areas. Then again a return to the troubled times of the 70's is not out of the question given the current political situation.

A bit of a tangent I know, but I'm originally from NI and would consider it as a possible reitrement option, pretty easy to free up some houswe equity from London and still live somewhere nice!

knightfox

Milton Keynes is one of the places with highest salaries

zagubov

knightfox wrote: »

Milton Keynes is one of the places with highest salaries

I lived near there for years back in the 80s. It was planned for cars and families. Back then entertainment involved a visit to London or Birmingham.

I'd imagine (and hope) that it's developed a bit more now, and if the planned new development of a belt between Oxford and Cambridge it should improve even more.

citizen0215

Ever so slightly. And it's not really a bad sort of bias. The FT is biased in favour of the establishment, and what it takes to be economic competence. Currently, this equates to being pro-Tory. But it needn't be thus. Aspects of Blairism fit into the FT nook, too. Corbyn’s politics are anti-establishment, and some of them are quite divorced from economic orthodoxy. Does that make them bad policies? Well, that's a matter of opinion.

The FT is a quality paper. If you read it (and nothing else), you would come away very well informed. I wouldn't describe it as “biased”, which seems to me to have a normative component (i.e. It's bad to be biased). Rather, I'd say that it has a perspective.

System

Herzlos wrote: »

London - you're paying more in mortgage but it's going towards equity. Spend a few years there in the rat race and then move out to the sticks to start a family, trading your crappy flat for a huge house.

Except property prices in london have been falling. significantly and consistently.
So this is really the worst possible advice.

zagubov

beany_bot wrote: »

Except property prices in london have been falling. significantly and consistently.
So this is really the worst possible advice.

It's like the stock market. If you moved into London and bought a place that you wanted to sell in three years time, I wouldn't be surprised if you lost money (but then again if you bought a house because you would be there for three years, most people would like you to explain your reasoning).

If you're here for a decade, I'd expect you to have gained a bit.

There was a period when we bought our second house and it sort of "earned" more money than I did for four years in a row.

We're not remotely close to central London or any of its fashionable up-and-coming areas. We're only minutes from the city boundary and when I walk the dog in the morning, I could easily cross it.

Prices have deffo gone done recently but seem to be creeping back up again locally. This has no financial benefit for me, as family commitments mean this is where we need to stay.

lisyloo

beany_bot wrote: »

Except property prices in london have been falling. significantly and consistently.
So this is really the worst possible advice.

We are renting in London for a short period whilst making enough to retire at 55.
Who said you HAVE to buy a house?
If you have a high paid job then a Short term bolt-hole can be worthwhile.

Depends on the salary you can command and whether you’re prepared to live in a broom cupboard or main breadwinner can live away from home on weekdays or commute or WFH or some combination of the above.
Lots of people do it. It’s called compensation for a reason.

If I could choose I wouldn’t be in London, but if you can command a high salary AND it provide a good career opportunity then it can be worthily due to the compensation.

It certainly is NOT the case that people are too stupid or too lazy to get out of London, quite the opposite in fact.

dharm999

Edinburgh - lovely city, and people. Housing can be affordable, good salaries, high quality of life.

Never liked London, unless you're young or wealthy, it just is not a nice place to live. I have to go there for work on a regular basis, and am always very glad to leave. Why anyone wants to face the tube in rush hour is beyond me, a horrible experience