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AIBU?

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Original poster

If you live in London and surrounding areas, how many people in your circle own their home

56 replies

MixedFamily · 14/01/2025 20:19

Between 30 and 40 yo? Inspired by another post I have read a few days ago where the OP was asking whether it was uncommon for people in their 30s to still be renting in London and commuter towns.
I would say that about 70% of people in our circle of friends and colleagues own, and these can mainly be divided in two groups:

  • have bought cheap properties (“cheap” by London standards) after saving hard for years and some have then upgraded to bigger houses, mainly fixer uppers
  • have had significant help from parents or married a rich partner (or both)

The remaining 30% who rent are all professionals with decent jobs but with no help, paying so much on rent and childcare and commute, it’s hard to save for a deposit whilst paying all of the above. We were in this group up to a few months ago, managed to buy a small home in a commuter town after a decade of savings.

OP posts:
Merryoldgoat · 14/01/2025 20:33

Most of the people I’m friends with own - we are mid 40s.

We bought in 2009 with help from PIL.y mortgage is £1500. Rent on a similar property is about £2500 and it’s not a trendy part of London (Zone 4).

PurrrSaidTheLiger · 14/01/2025 20:33

I guess it depends on your class, most middleclass londoners probably own....and have parents who can help

PurrrSaidTheLiger · 14/01/2025 20:29

I live in london zone 3/4 and i own and people i know in london zones 1 to 6 are i'd say a mix of 50% 50% at 30 to 40 years.

Original poster
MixedFamily · 14/01/2025 20:29

@Catza yes by “London” I also mean the commuter areas around zone 5-6, Surrey/Kent/Essex border etc

OP posts:
Catza · 14/01/2025 20:25

Most of my friends in this age bracket own their London home. But I use "London" very liberally here. Areas include Bromley, Epsom, Caterham etc. These are people who saved up. One couple I know own a flat in Putney. This was bought in late 90s before the property boom and they still are paying off the mortgage as far as I know. Most people I know who live in "London proper" are single professionals who are still in house shares.

babiesinthesnowflakes · 14/01/2025 20:25

Most of them, I’d say about 90%. I think it’s because it’s an expensive place to live and people who couldn’t afford to buy a place here would probably rather move further away than stay and rent.