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Zone 1-3 people, where do you live?

(121 Posts)
msrisotto Wed 20-Mar-13 22:12:08

And do you earn millions and millions? Or live in the tiniest of flats?? I would love to live in zones 1-3 and have money that would buy me a palace in some places but sadly not in London....

MothershipG Fri 22-Mar-13 23:04:09

West London rules! grin

I moved from 2 bed ex council flat in Shepherds Bush to the Queen of suburbs aka Ealing and love it here. Small 3 bed terrace but we've done the loft so now 4 beds. A bigger, end of terrace 4 bed around the corner has just gone on for £720,000 but I can't believe they'll get that, it's ridiculous!!!

minipie Fri 22-Mar-13 22:51:10

SW London here, nappy valley. how did we afford it... we are both on city wages but never spent what we earned... always lived quite frugally, only just had first DC so no child expenses till now... both got on property ladder early and paid down mortgage with spare cash, so we benefitted from price rises in mid 2000s.

Seminyak Fri 22-Mar-13 22:18:51

Ah thanks mintyy smile

southnorwoodmum Fri 22-Mar-13 22:16:56

I am in zone 4 South London. Going to work takes 12mins by train to London Bridge and total 35mins door-to-door journey. Our house was what we can afford (cheapish) and in any way, mortgage is nothing compared with childcare costs (the latter is real PITA).

MintyyAeroEgg Fri 22-Mar-13 21:47:57

Forest Hill is ace! Fab sweet shop and swimming pools, what more could you want? Welcome to the hood, Seminyak.

Seminyak Fri 22-Mar-13 21:42:59

Btw, forest hill flat is one we are buying. £275k. Makes me sick but cheap ish for London!

Seminyak Fri 22-Mar-13 21:41:06

Wandsworth town!! I earn less than London living wage and DH earning less than used to due to new/more satisfying job. Rent is ridiculous but we don't have kids so fewer expenses there. Lovely area. Moving to forest hill soon which will be nicer flat and cheaper.

FamiliesShareGerms Fri 22-Mar-13 21:16:20

SW London, not earning millions but there are plenty around here who are. The depressing thing is how quickly prices have risen in the last 10 years. Eg the houses on our street that currently go for upwards of £600k were about £150k not that long ago...

dragonwick Fri 22-Mar-13 21:14:09

Neighbours smile

herbaceous Fri 22-Mar-13 21:07:43

Hey dragonwick - I'm in Walthamstow too!

dragonwick Fri 22-Mar-13 20:45:52

Bought a 2 bed flat shared ownership in N1 in 2004 on my own, profit helped fund deposit for 3 bed decent sized house with garden in Walthamstow, bought last year for £265k with DH. I love it here, good green areas, primary schools, victoria line and zone 3. Am definitely not earning millions, very average income.

bigTillyMint Fri 22-Mar-13 20:43:49

Jammy, you can change - DH is a south of the river convertsmile

jammybean Fri 22-Mar-13 20:35:40

notcitrus I have to admit I'm one of those north of the river people. I'm not snobbish at all. [Grin] But given the choice, I'd always stay north. It's just what I'm used to.

notcitrus Fri 22-Mar-13 20:29:23

No weed-smokers when we had an ex-council flat in Hammersmith. Loads in nice streets I've lived on before and since.

We couldn't afford anything larger than a 2-bed in Hammersmith, even council, which clinched the decision to move south where we could afford beautiful 4 beds.

Anyone snobbish about south of the river hasn't been Between the Commons, or to Dulwich.

jammybean Fri 22-Mar-13 20:29:16

I don't think it unrealistic to want to own your own place in your twenties. It's no god given right. But if people want to, in an ideal world affordable housing should be available.

MintyyAeroEgg Fri 22-Mar-13 20:23:19

Jammy - I bought with a friend. Our joint income was £26,000, but interest rates were an awful lot higher. At one point I was bringing home £750 per month and £350 went on the mortgage. We had to have a 5% deposit, which we saved for.

bigTillyMint Fri 22-Mar-13 20:12:18

But I and many of my friends couldn't afford to buy anywhere in London till we were late 20's/early 30's. I think today's 20somethings have unrealistic views on owning their own houses - it takes time to save for a deposit and get higher on the payscales.

jammybean Fri 22-Mar-13 20:09:12

You're right Minty. I look at the past generations having had it easier forgetting there has been both peaks and troughs in the market. Negative equity aside, surely it was easier to buy your place in 1988? I think most in the 20-35 age group would give an arm to be able to afford anything in London right now.

MintyyAeroEgg Fri 22-Mar-13 19:51:15

Jammy, if you had bought in London in the 80s you would very possibly have been in negative equity, like wot I was for 10 years. I bought a flat in Hackney in 1988 for £76,500 and sold in 1998 for £75,000. For a lot of that time I had to let the flat and rent elsewhere (as had to move for jobs). People forget that house prices have not been on an ever-upward trajectory in the recent past.

bigTillyMint Fri 22-Mar-13 17:00:53

The ex-council flat I had was a really big 2-bed garden flat. Never had a moment's trouble with it or the neighbours (I bet most of them are privately owned now anyway) and it was a stone's throw from Clapham Common tube...

jammybean Fri 22-Mar-13 16:52:22

I'm very envious of all you house London dwellers. envy And wish I had been able to buy in the 80's. (physically impossible)

But I guess if we were prepared to live on the outskirts of Zone2/3 we would have managed to get something quite lovely with a garden.

The council estates where I am sell at a premium as many have unobstructed river views! So there not all grotty.

herbaceous Fri 22-Mar-13 15:27:57

I toyed with that idea with my EX-COUNCIL flat in Dalston, but needed its equity to buy this house.

Sorry OP. All this talk of early property ladder leapers isn't helping, is it.

bigTillyMint Fri 22-Mar-13 15:21:16

OQC, I got on the property ladder buying an ex-council flat in Clapham Old Town in '92. We sold it at 3 x the price and bought our current house in '99, but really wish we had just rented it out - it would have been a fantastic money spinner.

oldqueencrepey Fri 22-Mar-13 15:17:52

Well, <tries to skirt round edge of green eyed monster swamp> I bought a not very nice flat in Clapham, just after height of boom in '89, with deposit (5%) from money left by a grandparent and my Dad as guarantor on the mortgage. I had a succession of lodgers / flatmates in the spare room to cover the mortgage.

In '94 I sold it and pooled resources with now dh, who also sold his 1 bed flat and we bought a terraced house in a not very nice street in central Islington for what now seems like peanuts. We were lucky because at that time Islington just wasn't seen as particularly desirable at all (indeed my late in-laws who had always lived in Hampstead were quite horrified).

We sold that house a couple of years ago for 5x what we paid for it and bought an amazing house at great expense, still in Islington. It is lovely and I'm never moving. I do realise we are very very lucky. I worry that when dss realise what it's like out there in the world these days they will still be in residence on top floor aged 40.

bigTillyMint Fri 22-Mar-13 15:11:57

FWIW, MrsH, mintyy and I live in an area that you might actually consider living in. Not on a council estate - it's quite popular with the banking brigade now. If you could stump up the cash, of coursewink

But then we are quite happy to educate our children at state schools.

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