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Random $h!t Thread - Part VI 
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In the metro today : starter homes in zone 3-6 for 380k ( 1 bed flats). Affordable housing available for families earning up to 85k a year.


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Tue Sep 01, 2015 8:02 am
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I'm going to have to postpone watching the rest of the TV shows I had lined up for my next nights off and watch all the films on Netflix that I have in my Watchlist, thanks to Netflix lacking the resources/desire to re-secure the contract it had with the company that represented some of the big Hollywood studios for digital broadcast. *sigh*

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Tue Sep 01, 2015 6:30 pm
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TheFrenchun wrote:
In the metro today : starter homes in zone 3-6 for 380k ( 1 bed flats). Affordable housing available for families earning up to 85k a year.
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This is mental. The equivalent price over here in Belfast would get you something much bigger than a simple two-up, two-down..
Are wages in London comensurate to the house prices?

Mark

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okenobi wrote:
All I know so far is that Mark, Jimmy Olsen and Peter Parker use Nikon and everybody else seems to use Canon.
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Well you obviously. You're a one man vortex of despair.


Wed Sep 02, 2015 1:27 am
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Makes my house for 110K GBP for 3 bedrooms, large garden and cellar sound good.

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Wed Sep 02, 2015 3:44 am
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Officially Mrs saspro
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timark_uk wrote:
TheFrenchun wrote:
In the metro today : starter homes in zone 3-6 for 380k ( 1 bed flats). Affordable housing available for families earning up to 85k a year.
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This is mental. The equivalent price over here in Belfast would get you something much bigger than a simple two-up, two-down..
Are wages in London comensurate to the house prices?

Mark

Not to that extent. I think average wage in London is around 35k, UK wide is 22k


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Wed Sep 02, 2015 6:28 am
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1 bed flat for 380k? Bloody hell. That's a 4 bed detached where I live. An nice one at that.

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Wed Sep 02, 2015 8:38 am
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You'e all talking like it's a surprise that London homes are expensive. They have ALWAYS been expensive. London is one of the most expensive cities in the world. When I bought my 3 bed house 16 years ago on the outskirts of London a friend at work was buying a studio flat in Islington for the same price.

That's why a lot of people buy somewhere out of town and commute in.

This is not news :roll:

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jonbwfc wrote:
Caz is correct though


Wed Sep 02, 2015 10:07 am
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oceanicitl wrote:
When I bought my 3 bed house 16 years ago on the outskirts of London a friend at work was buying a studio flat in Islington for the same price.



Well a quick look on right move tells me properties in the Chingford ( insert Hounslow, Croydon, Cockfosters as needed) area have doubled in price since 2000. Hardly central London. So no, it's not always been that expensive.

http://www.rightmove.co.uk/house-prices/Chingford.html

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Wed Sep 02, 2015 9:32 pm
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TheFrenchun wrote:
oceanicitl wrote:
When I bought my 3 bed house 16 years ago on the outskirts of London a friend at work was buying a studio flat in Islington for the same price.



Well a quick look on right move tells me properties in the Chingford ( insert Hounslow, Croydon, Cockfosters as needed) area have doubled in price since 2000. Hardly central London. So no, it's not always been that expensive.

http://www.rightmove.co.uk/house-prices/Chingford.html

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I think you'll find property prices have gone up by 200% since 2000. But then what do I know? I've only been a property owner since 1991.

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jonbwfc wrote:
Caz is correct though


Thu Sep 03, 2015 7:48 am
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And how is that not proving my point?


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Thu Sep 03, 2015 8:21 am
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TheFrenchun wrote:
And how is that not proving my point?


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They went up 100% in the 10 years prior to that. I said London has always been expensive, you said

TheFrenchun wrote:
So no, it's not always been that expensive.


So what exactly is your point? I can tell you exactly how property prices have changed in the last 45 years. London has, and always be, the most expensive city in the UK.

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Caz is correct though


Thu Sep 03, 2015 8:31 am
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Indeed it has, but now it's unaffordably expensive for most. You need to have a few generations earning and living together to afford an actual house now. The best a normal could can afford is a bedsit or maybe a one bedroom shoebox.

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Thu Sep 03, 2015 8:52 am
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l3v1ck wrote:
Indeed it has, but now it's unaffordably expensive for most. You need to have a few generations earning and living together to afford an actual house now. The best a normal could can afford is a bedsit or maybe a one bedroom shoebox.


Hence my comment

oceanicitl wrote:
That's why a lot of people buy somewhere out of town and commute in.

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jonbwfc wrote:
Caz is correct though


Thu Sep 03, 2015 8:56 am
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oceanicitl wrote:

Hence my comment

oceanicitl wrote:
That's why a lot of people buy somewhere out of town and commute in.


But for example.
Take your salary & multiply them by 3.
Is the result of that the value of your house? (ignore any other money/investments your have).

Now take £700 a month from your wages. Work out how much spare money you have after commuting, food etc.
Now work out how long it'll take you to get to 30% of your houses value if you save that much.

House prices are going up at a much faster rate than wages.
20 Years ago my parents house in the suburbs was around £120k with my dad earning around £40k. Easily fits in to the formula
Today it's worth £330k for the same house & if my dad was working his salary would be around £50-55k for the same job. Doesn't fit at all.

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Thu Sep 03, 2015 9:22 am
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My dad's house was worth £20k in 1980. At the time, he earned just under £20k/yr gross. Paid off the mortgage in ten years through voluntary overtime.
It's now worth £200k. He still earns the same amount.

My own home is £280k.
I earn about a fifth of its value.
My mortgage is about a third of my net income.

According to saspro's calculation, it'd take me just over 40 years if I didn't spend a penny.

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Thu Sep 03, 2015 9:57 am
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