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Buying your own property in London


Captain Planet

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Why do they always go on like London is an isolated case though.

It's like that anywhere in the world, if a certain city is making money and flourishing then it's obvious you're going to need above good money to live there.

exactly

was looking at buying somthing in Oxford and its basically the same prices.

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When I said Isolated I meant in terms on the world. If you find a city which is booming economically then it's rare people on a average wage can afford to live there.

 

London is no different to New York,  Hong Kong, Zurich, Geneva, Tokyo etc

I'm not convinced of Hong Kong, Tokyo, Zurich and Geneva being desirable places to live for average British families.

 

http://www.economist.com/blogs/freeexchange/2013/06/london-house-prices#comments

 

AND

Cost of Living Index (Current, By City)Hong KongBerlinLondonNew York,NYPragueSydneyBeijingDelhi0306090120

City CPI Hong Kong 77.27 Berlin 76.73 London 105.96 New York, NY 100 Prague 51.46 Sydney 106.91 Beijing 52.8 Delhi 30.37

 

^ Should have come out as a graph, but it shows that only Sydney is close to London.

 

AND 

 

http://www.numbeo.com/common/  - This site will enable people to do their research before making sweeping statements.

 

AND 

 

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11115385/Property-prices-London-ranked-the-worlds-most-expensive-city.html

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When I said Isolated I meant in terms on the world. If you find a city which is booming economically then it's rare people on a average wage can afford to live there.

 

London is no different to New York,  Hong Kong, Zurich, Geneva, Tokyo etc

I'm not convinced of Hong Kong, Tokyo, Zurich and Geneva being desirable places to live for average British families.

 

http://www.economist.com/blogs/freeexchange/2013/06/london-house-prices#comments

 

AND

Cost of Living Index (Current, By City)Hong KongBerlinLondonNew York,NYPragueSydneyBeijingDelhi0306090120

City CPI Hong Kong 77.27 Berlin 76.73 London 105.96 New York, NY 100 Prague 51.46 Sydney 106.91 Beijing 52.8 Delhi 30.37

 

^ Should have come out as a graph, but it shows that only Sydney is close to London.

 

AND 

 

http://www.numbeo.com/common/  - This site will enable people to do their research before making sweeping statements.

 

AND 

 

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11115385/Property-prices-London-ranked-the-worlds-most-expensive-city.html

 

 

My comment isn’t to do with British families, I was merely pointing out that most people in their own countries struggle to buy property in area’s with a similar outset to London. Unless they’re at the high end of the salary factor, which is of course relative to the country you’re in.

 

Obviously if you could point me towards a financially booming, desirable city, with a great infrastructure. tons of investment, where purchasing a property is not just for the high earning % of the population then link me

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I've only read up to page 3 or 4 in this thread which dates back to January, but I see people advising as if a deposit is the only capital required to get a mortgage... Stamp duty? Fees? Moving costs? Refurb?

 

Anyway, I made a calculator for required capital once. Here.

 

It had a option for the help to buy, help to buy guarantee and shared ownership schemes but they're probably out of date now so I've excluded them.

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I had to ask for help from my Dad for the deposit, there's no way i would be able to afford one otherwise (Apart from waiting for another 3 years to build a better deposit) 

 

The amount of other fees i will have to be paying makes me question, is it even worth it right now..

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When I said Isolated I meant in terms on the world. If you find a city which is booming economically then it's rare people on a average wage can afford to live there.

 

London is no different to New York,  Hong Kong, Zurich, Geneva, Tokyo etc

I'm not convinced of Hong Kong, Tokyo, Zurich and Geneva being desirable places to live for average British families.

 

http://www.economist.com/blogs/freeexchange/2013/06/london-house-prices#comments

 

AND

Cost of Living Index (Current, By City)Hong KongBerlinLondonNew York,NYPragueSydneyBeijingDelhi0306090120

City CPI Hong Kong 77.27 Berlin 76.73 London 105.96 New York, NY 100 Prague 51.46 Sydney 106.91 Beijing 52.8 Delhi 30.37

 

^ Should have come out as a graph, but it shows that only Sydney is close to London.

 

AND 

 

http://www.numbeo.com/common/  - This site will enable people to do their research before making sweeping statements.

 

AND 

 

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11115385/Property-prices-London-ranked-the-worlds-most-expensive-city.html

 

 

My comment isn’t to do with British families, I was merely pointing out that most people in their own countries struggle to buy property in area’s with a similar outset to London. Unless they’re at the high end of the salary factor, which is of course relative to the country you’re in.

 

Obviously if you could point me towards a financially booming, desirable city, with a great infrastructure. tons of investment, where purchasing a property is not just for the high earning % of the population then link me

 

Your whole argument is just one big non-sequitur. I already told you that Berlin is an example. I guess you just had to reply eh, lol.

 

London is more expensive than any other city in the world (bar Sydney) on a salary per salary basis. London is also THE most desirable location in the world for most professionals.

 

Also, "areas" doesn't contain an apostrophe.

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When I said Isolated I meant in terms on the world. If you find a city which is booming economically then it's rare people on a average wage can afford to live there.

London is no different to New York, Hong Kong, Zurich, Geneva, Tokyo etc

I'm not convinced of Hong Kong, Tokyo, Zurich and Geneva being desirable places to live for average British families.

http://www.economist.com/blogs/freeexchange/2013/06/london-house-prices#comments

AND

Cost of Living Index (Current, By City)Hong KongBerlinLondonNew York,NYPragueSydneyBeijingDelhi0306090120

City CPI Hong Kong 77.27 Berlin 76.73 London 105.96 New York, NY 100 Prague 51.46 Sydney 106.91 Beijing 52.8 Delhi 30.37

^ Should have come out as a graph, but it shows that only Sydney is close to London.

AND

http://www.numbeo.com/common/ - This site will enable people to do their research before making sweeping statements.

AND

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/11115385/Property-prices-London-ranked-the-worlds-most-expensive-city.html

My comment isn’t to do with British families, I was merely pointing out that most people in their own countries struggle to buy property in area’s with a similar outset to London. Unless they’re at the high end of the salary factor, which is of course relative to the country you’re in.

Obviously if you could point me towards a financially booming, desirable city, with a great infrastructure. tons of investment, where purchasing a property is not just for the high earning % of the population then link me

Your whole argument is just one big non-sequitur. I already told you that Berlin is an example. I guess you just had to reply eh, lol.

London is more expensive than any other city in the world (bar Sydney) on a salary per salary basis. London is also THE most desirable location in the world for most professionals.

Also, "areas" doesn't contain an apostrophe.

Pretty sure New York was exactly like London prior (not being able to afford property, average salary in New York is/was a million)But ok this is clearly the first time this has ever happened in history of property.

And although me saying 'everywhere' was presumptuous, most places are like this. Not comparing London with anywhere else i'm comparing the situation people face in different countries.

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