A third of Londoners can't afford decent living standards

[Hipster]

If you dont earn 70K in London, Why waste your time living here?

 

Trust

 

There are people that are on 30/40k living with mumzy

 

need to allow it and live a better life

[Fresh]

 

If you dont earn 70K in London, Why waste your time living here?

 

Trying to

[ag.]

London offers you hope but in reality you get f*cked.

 

 

projecting lol

[zoot]

My pals are paying 2800 for a 3 bed in N4.. Don't think I could stomach paying rents like that 

[Kompressor]

Gotta respect any landlord that has the gift of the gab to enable him to fleece over a grand a month out of someone. Sterling work. 

 

That shit could not work on me at all.

[Vertigo]

 

But they could be putting that money into a deposit.

Maybe they can, but not a lot of others can

 

 

True.

 

Me and my wifey were lucky in that her mother let us stay with her rent free for a year, so we could stack for a deposit for the place we ended up buying. Looking at how things are going now that was a good move.

[Mizchif]

Just need to find myself a girlfriend really then i'm set. London's affordable for couples

[Kim]

only thing that is attractive in london theese days is their accent anything else

is meh

 

why pay over the odds to live in a shared house with strangers when you can be comfortable in your own 

luxury 3 bed whilst taking a small daily commute on the train 

 

 

my newphew is living in a boat whilst at uni because its cheaper and tbh its a great idea if i was ever

to move to london i would do the same...fuck paying over the odds for a house i would forever be pissed

[Heero Yuy]

Is his name abdi?

[local]

my newphew is living in a boat whilst at uni because its cheaper and tbh its a great idea

 

ok i'll bite

 

where?

[Zizouz]

my newphew is living in a boat whilst at uni because its cheaper and tbh its a great idea if i was ever

that's sitcom material 

[Kim]

I dont know he told me when I was on holiday i cant remember the details, him and his freinds

are still moving the boat ....you know it takes 3 weeks from nottingham to leicester. he will still be 

on boat when his course starts....

[Guest babatundestacks]

london is definitely affordable but you gotta know how to push for a bargain and as mischief said have a woman to go halfs with

[time_bomb]

Gotta respect any landlord that has the gift of the gab to enable him to fleece over a grand a month out of someone. Sterling work. 

 

That sh*t could not work on me at all.

 

no gift of the gab needed, its the going rate in london, youd be hard pushed to find a 1 bed flat in a decent area for under a grand, id say virtually impossible

 

Just need to find myself a girlfriend really then i'm set. London's affordable for couples

 

same.

 

Quite sad but ive recently considered getting into a serious relationship based on housing

[Mr. Martinez]

Pay £1300 a month for a 1bed flat.

Moving out soon. They're advertising it at £1450 from today and she's already telling me about 3 viewings on Saturday.

[Thun]

It's all good being a couple to get a flat but what after a few years down the line or sooner you have a baby

She might go back to work but then childcare comes into play

Your left to struggle and maybe lose the place

I think the minimum you need to be earning was £90000 a year and that ain't even in central to buy

[Kompressor]

 

Gotta respect any landlord that has the gift of the gab to enable him to fleece over a grand a month out of someone. Sterling work. 

 

That sh*t could not work on me at all.

 

no gift of the gab needed, its the going rate in london, youd be hard pushed to find a 1 bed flat in a decent area for under a grand, id say virtually impossible

 

 

 

Just need to find myself a girlfriend really then i'm set. London's affordable for couples

 

same.

 

Quite sad but ive recently considered getting into a serious relationship based on housing

 

It is gift of the gab, believe, how a man/woman can ask for £1.200 a month from you to pay for something that'll never be yours is outstanding. If more people were prepared to move out and so the stupid prices weren't being paid, what would happen? Would  prices go down eventually? 

 

There are the certain few who can afford those rent prices comfortably, but those are the biggest idiots tbh, £1.200 isn't going into anything but a mortgage for me.

i'd refuse to pay anything over £600 pcm for accommodation unless its mine.(even with that type of price my Dad says I'm being foolish.

 

The idea of getting into a relationship to pay bills is something else.  

 

Pay £1300 a month for a 1bed flat.

Moving out soon. They're advertising it at £1450 from today and she's already telling me about 3 viewings on Saturday.

 

Insanity. 

 

these times Council tax and utilities not even mentioned yet. plus you gotta eat and have a social life in one of the most expensive cities in the world.

[Thun]

It's not £90000 but the exact amount is £77000

First-time buyers need to earn £77,000 a year to live in London

http://www.theguardian.com/business/2015/may/04/first-time-buyers-need-to-earn-77000-a-year-to-live-in-london

[Captain Planet]

Sometime I walk around Forest Gate and I wonder where all these Polish people actually live.

 

It's like they just seep out of the walls with a can of White Lightning come 9am.

[Afroman]

Gotta respect any landlord that has the gift of the gab to enable him to fleece over a grand a month out of someone. Sterling work.

That sh*t could not work on me at all.

no gift of the gab needed, its the going rate in london, youd be hard pushed to find a 1 bed flat in a decent area for under a grand, id say virtually impossible

Just need to find myself a girlfriend really then i'm set. London's affordable for couples

same.

Quite sad but ive recently considered getting into a serious relationship based on housing

It is gift of the gab, believe, how a man/woman can ask for £1.200 a month from you to pay for something that'll never be yours is outstanding. If more people were prepared to move out and so the stupid prices weren't being paid, what would happen? Would prices go down eventually?

There are the certain few who can afford those rent prices comfortably, but those are the biggest idiots tbh, £1.200 isn't going into anything but a mortgage for me.

i'd refuse to pay anything over £600 pcm for accommodation unless its mine.(even with that type of price my Dad says I'm being foolish.

The idea of getting into a relationship to pay bills is something else.

Pay £1300 a month for a 1bed flat.

Moving out soon. They're advertising it at £1450 from today and she's already telling me about 3 viewings on Saturday.

Insanity.

these times Council tax and utilities not even mentioned yet. plus you gotta eat and have a social life in one of the most expensive cities in the world.

insane.

[Captain Planet]

would u agree with the statement of 77k cp?

 

These numbers are skewed towards soft middle-class rah-rahs who want to live in Clapham or Islington and frequently spend their disposable income in Starbucks and at the gastropub on the green with their chums.

 

If you're smart and can see where the money is gong next, then you can buy cheap in London and get by, Niall mentioned Willesden a while back there are a few other places with serious growth potential.

 

You can buy a nice 2 bed Victorian conversion flat/maisonette for around 200k (taking account of bidding up after guide prices) in Manor Park, Zone 3, which has an impending early roll-out of Crossrail in Liv Street. With a help to buy deposit of 10k, monthly repayments would be 1,100 (ironically 100 less than the average 1 bed rent in London) and a bank would just about be happy to loan you the 95% LTV on a 45,000 gross salary for one person, because two people with a gross adding up to 45k take home more after taxes.

 

Per month, the income after taxes you'd have is around 2,500 (if single, and say 3,000 if split between two people), so say according to GLA guidelines 40% of take home pay (1,500) is all living expenses you have 1,000 left. If you can cut £200 (to be safe) off your monthly expenses then you're good. To most people that's an annual holiday, eating habits etc, it's only 2,400 a year. 

 

77k is when they refer to the average house price across the entire city which is like 500,000, which is in turn skewed by high prices in the centre.

 

Then if you want to wait for the value of your property to increase off the back of Crossrail and it's impending gentrification of areas with great transport connects and nice Victorian housing stock whilst enhancing your income and aggressively paying back your mortgage, as your equity increases you will soon be in the position to leverage against your house and buy a buy-to-let style investment, like an ex-local authority flat at auction (yes you can get mortgages for auction), rinse and repeat.

[SLEAZE BALL]

As a man said

No gift of the gab is needed

This is not the 90's

[SLEAZE BALL]

And that is possibly CP's best post thus far +1

[Thun]

Good info there CP