How much is your house worth?

Job

The Carl Pilkington of Freddyshouse
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Groans all round, but really, watched the episode of Location, Location in Brixton where some young couple were delighted to part with 500 frickin grand for a tiny two bedroom flat with part of a run down garden across the road.
They walked around the dingy rooms in awe at what they were getting, the bathroom was dreadful, seriously, round our way, 60 grand tops.
OK it's Brixton, which is up and coming trendy I guess and that makes it 100x better than a two bed flat in Bootle, but 500 grand, it reinforced my opinion that everyone around London has gone fucking nuts.
 

Embattle

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Average house price for the road I live in is £860k, most the houses are semi detached and go for over £1m and a report a couple of years ago said you effectively had to earn over 60k to live in this area. I find that house prices in a lot of areas in London are just utterly ridiculous, I doubt it'll change either.
 

old.Tohtori

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Meh, don't own one :p

Though it's more usual in the UK if i remember correctly.
 

TdC

Trem's hunky sex love muffin
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I was recently confronted with the fact that if I had to buy my apartment in Amsterdam (as opposed to where it actually is), I would have to pay well over half a million euros. Call it 700K. Le shock 0o
 

Job

The Carl Pilkington of Freddyshouse
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I take back the 60k..showed my mate the flat on catchup...he's just bought one pretty well the same for 22k
 

Gwadien

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I take back the 60k..showed my mate the flat on catchup...he's just bought one pretty well the same for 22k

Thing is though, you're more likely to invest £1million into a flat, and then more likely to get promoted to a job paying that kind of money a year, than where you live I'd imagine.
 

sayward

Resident Freddy
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Would not live in Brixton if you paid me. Once taught there.....
 

throdgrain

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My terraced ex council house with three bedrooms and no drive or garage is currently about £250 to £270 k . I have no idea how the majority of youngsters are supposed to pay that to buy it.
 

Moriath

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My terraced ex council house with three bedrooms and no drive or garage is currently about £250 to £270 k . I have no idea how the majority of youngsters are supposed to pay that to buy it.
Same here with the conservatory and replaced heating and kitchen and bathroom I have done the house I paid 80k for in 1999 is just shy of 300k now and it's an ex council end of terrace with no drive or garage.
 

Edmond

Is now wearing thermals.....Brrrrr
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Same here with the conservatory and replaced heating and kitchen and bathroom I have done the house I paid 80k for in 1999 is just shy of 300k now and it's an ex council end of terrace with no drive or garage.
.....and the windows, don't forget the new windows dude!!
 

fettoken

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Bought my flat in Stockholm three years ago, 150k euro's, they finished building it a year ago, paid three years ago as well. Worth 270k now. Well invested i'd say!
 

Job

The Carl Pilkington of Freddyshouse
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Thing is though, you're more likely to invest £1million into a flat, and then more likely to get promoted to a job paying that kind of money a year, than where you live I'd imagine.
Exactly, but the whole process is self sustaining and then sucks all the money down south as wages have to be higher to afford the housing and the housing is more expensive because the wages are higher....looking in from above southerners seem to be in a giant roundabout of madness..
The only obvious advantage is if you jump off you can buy a mansion elsewhere...seriously 500K would buy you a 6 bedroom house in a very exclusive private road.
 

Moriath

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Exactly, but the whole process is self sustaining and then sucks all the money down south as wages have to be higher to afford the housing and the housing is more expensive because the wages are higher....looking in from above southerners seem to be in a giant roundabout of madness..
The only obvious advantage is if you jump off you can buy a mansion elsewhere...seriously 500K would buy you a 6 bedroom house in a very exclusive private road.
Not really a lot of the people buying expensive houses in London are Chinese and foreign investors that do not get their money from the city. They then rent them out or keep them as a London second home.
 

TdC

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My terraced ex council house with three bedrooms and no drive or garage is currently about £250 to £270 k . I have no idea how the majority of youngsters are supposed to pay that to buy it.

yeah chum, I had typed up a similar story. my apartment is new, but even so it's near impossible to buy on the NL average salary given the current mortgage regulations. in fact, if I didn't work for my employer, I'd have a terribad time with the payments. how any young people setting out are supposed to manage this is a mistery to me!
 

DaGaffer

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€700k ish, but we need to do about another 100k of work to it. Makes it an average house for the part of Dublin I live in.

Out of curiosity I just had a look at my old street in Shepherds Bush. I sold my 3 bed house there in 2006 for 500k and I thought I'd made an absolute killing; same type of house is now going for 1.3m... For a three bed end of terrace. Jesus...
 

Scouse

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1.3m... For a three bed end of terrace. Jesus...
Alternatively people could buy a nice 3 bed semi, with a drive, garage, front and back garden in a middling part of nottingham for a tenth of that - just £130k.

Then spend the rest of their cash on going out all the time and away with their mates.

Just back from my fifth weekend away this year :)
 

DaGaffer

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Alternatively people could buy a nice 3 bed semi, with a drive, garage, front and back garden in a middling part of nottingham for a tenth of that - just £130k.

Then spend the rest of their cash on going out all the time and away with their mates.

Just back from my fifth weekend away this year :)

Yes, yes, and your super irrelevant point is? People live in London because the best work is in London, and by "best" I mean best paid, most interesting, and far, far more important, easiest to replace if you lose it. If the last thirty years have taught us anything, its that there's no such thing as job security, so it usually makes sense to work somewhere where you can get another job at the drop of a hat.

The fact that a house in Shepherd's Bush costs millions is ludicrous, but also the natural outcome of an ongoing trend towards job market concentration that's happening all over the world (and yes I know contractors can work from anywhere in their underpants, blah, blah, but that option doesn't work for vast swathes of people or their careers).
 

Job

The Carl Pilkington of Freddyshouse
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The vast majority of people who live in the southeast housing bubble are mortgaging themselves into sleepless nights...2 grand repayments are common and they must shit themselves everytime they see someone from the bank of England on the telly.
 

DaGaffer

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The vast majority of people who live in the southeast housing bubble are mortgaging themselves into sleepless nights...2 grand repayments are common and they must shit themselves everytime they see someone from the bank of England on the telly.

Size of mortgage isn't that big a deal in absolute terms, so long as you keep it to a sensible % of salary (and ideally, loan to value). Its the people who load it up to 50%+ of salary (aided and abetted by their bank) and have 90%+ mortgages when interest rates are low who are going to be the ones who get in trouble. That scenario has been made much harder in Ireland now, but amazingly, when the banks tried to limit loan to value to 80% max (an entirely sensible measure given what happened here in the boom), the government stepped in and stopped them.
 

Moriath

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Size of mortgage isn't that big a deal in absolute terms, so long as you keep it to a sensible % of salary (and ideally, loan to value). Its the people who load it up to 50%+ of salary (aided and abetted by their bank) and have 90%+ mortgages when interest rates are low who are going to be the ones who get in trouble. That scenario has been made much harder in Ireland now, but amazingly, when the banks tried to limit loan to value to 80% max (an entirely sensible measure given what happened here in the boom), the government stepped in and stopped them.
In the uk it's very hard and you get shitty interest rates to get a 95% mortgages these days. I only have 40k left on my mortgage and it's about 10% of my take home :)
 

TdC

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max is 103% here in NL 0_o
 

Scouse

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Yes, yes, and your super irrelevant point is? People live in London because the best work is in London, and by "best" I mean best paid, most interesting, and far, far more important, easiest to replace if you lose it.
Whilst I agree with your points about the advantages granted by concentration of work my point is far from irrelevant.

Even if wages in London were double that in the rest of the UK (they're not) the fact that my house is TEN times cheaper than a not-even-equivalent of one in London means that if you want a larger disposable income combined with a bigger living space then it makes sense to live somewhere else in the UK.

Yes, you don't get the advantages that you have from living in the capital but the advantages of not living there far outweigh them IMO.
 

Moriath

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Whilst I agree with your points about the advantages granted by concentration of work my point is far from irrelevant.

Even if wages in London were double that in the rest of the UK (they're not) the fact that my house is TEN times cheaper than a not-even-equivalent of one in London means that if you want a larger disposable income combined with a bigger living space then it makes sense to live somewhere else in the UK.

Yes, you don't get the advantages that you have from living in the capital but the advantages of not living there far outweigh them IMO.
There are millions of people who don't earn nearly enough in London who are needed to support the wealthier populous. Cleaners, waiters, police, fire, nurses, etc etc
 

DaGaffer

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Whilst I agree with your points about the advantages granted by concentration of work my point is far from irrelevant.

Even if wages in London were double that in the rest of the UK (they're not) the fact that my house is TEN times cheaper than a not-even-equivalent of one in London means that if you want a larger disposable income combined with a bigger living space then it makes sense to live somewhere else in the UK.

Yes, you don't get the advantages that you have from living in the capital but the advantages of not living there far outweigh them IMO.

Depends what you do. My earning potential in the southeast was easily twice what I could have earned in say, Humberside (where I grew up), and with hundreds (probably thousands) more potential employers. Add in the combined salary of me and my ex when I lived in London and it was probably treble what we could have earned together elsewhere. And even if the value of a house was multiple times the value of a house up north, it wasn't the same cost multiple.

Having said that, I do totally understand the logic of getting away from the tyranny of southeast house prices, and back in the day we looked at moving out of London (we even did it partially for a while) but the economics and risk never stacked up.

I'm now in the same situation in Dublin; for what were paying we could have a mansion not that far away, but even more so than the UK, the fall off in services, schools, transport and especially jobs, once you get only an hours drive from the M50, make it really difficult to justify.
 

Urgat

Part of the furniture
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Bought my 1 bedroom back to back, 5 years ago for 80k

It is now worth 55k (ish)

FML
 

Scouse

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I'm now in the same situation in Dublin; for what were paying we could have a mansion not that far away, but even more so than the UK, the fall off in services, schools, transport and especially jobs, once you get only an hours drive from the M50, make it really difficult to justify.

Furry... I don't think I could happily live there myself tbh. My main sport of choice is dull as dishwater anywhere south of Derby tbh. ;)

Maybe I don't feel the draw as much as other people - like you said - I'm willing to go to wherever the work happens to be. Normally I'd like to keep it to within an hour's commute but if the rate is good I'll work and stop in hotels. Haven't had to do that for a long long time tho.

Need a couple more houses in Nottingham paid off and rented out tbfh. Then I'll have about ~1800/month income from that. I'd happily go live in wales just for the MTBing, fishing, canoeing and not being in a smoggy hellhole, with amazing views to boot :)
 

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