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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To think it should be possible to buy a decent place to live in London for £750k?

167 replies

Socrates67 · 15/09/2015 10:21

We have been looking at the market for a while now and are ready to pay up to £750k for the right property, but there seems to be nothing available within that price range. Sorry to moan and I know that it's a first world problem, but the prices seem ridiculous.

We would like a 2 bedder in or near WC1/NW1/EC1/SE1, ideally if not in a period building then one that isn't a high rise and with a bit of character and a bit of outside space - balcony, small patio garden or whatever.

Am I being unrealistic? Who can afford these prices? Certainly not most people, I am guessing.

Anyway, rant over and I would be grateful for any advice as to where we might look where we can hopefully achieve what we are looking for without going too far out of the centre. In an ideal world, I would like to be walking distance of theatre land/the south bank. Maybe Bermondsey would be an option, but it seems a bit isolated. Also Lambeth North, but according to the press it is full of gangs.

There are no DC involved in the decision so schools irrelevant, not that I suppose that it makes it any easier......

OP posts:
TheDrugsWorkABitTooWellThanks · 15/09/2015 12:44

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TheDrugsWorkABitTooWellThanks · 15/09/2015 12:46

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TreadSoftlyOnMyDreams · 15/09/2015 12:56

www.rightmove.co.uk/property-for-sale/property-51822686.html
What about this one?

peggyundercrackers · 15/09/2015 13:11

OP YABU

Am I being unrealistic? yes

Who can afford these prices? all the people who live there and all the people who want to live there - houses are only that price because of demand. Just because you cant doesnt mean there is something wrong.

Certainly not most people, I am guessing. no not most people but there is obviously a lot of people who can afford to live there because prices keep rising...

Not everyone wants to live in places like you are searching in - these other people have nice houses with lots of space and lots of features which don't cost that amount but if you want to search in an area which is already oversubscribed then you need to expect to pay more. its not really rocket science.

TheDrugsWorkABitTooWellThanks · 15/09/2015 13:16

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hesterton · 15/09/2015 13:17

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peggyundercrackers · 15/09/2015 13:25

originalmavis - that flat is tiny - my livingroom and kitchen put together are bigger than that whole flat... why would anyone pay that money for a shoebox?

Loftslag · 15/09/2015 13:28

Feel free to buy my lovely 2-bed flat which is currently on for £750k! Walking distance to the West End, Portobello, Queensway. No outside space but a fantastic view! Smile

originalmavis · 15/09/2015 13:34

Peggy - you're not from round 'ere are ye?

LOft - you must be though! I'm thinking bayswater road-ish?.

dinkystinky · 15/09/2015 13:40

Op - you will find plenty in budget if you extend your search area out to zone 2. There will also be plenty in budget in zone one - but you will need to make compromises (shared outdoor space, ex council properties, etc) which it doesn't sound like you want to. I live in nw London in zone 2 - tube to theatre land takes 20 minutes/to southbank for national theatre 30 minutes. Walking is all very nice and well (and I have lived in zone 1 before) but for the space, and outdoor space and character/period features you want you need to extend your search zone.

ChazsBrilliantAttitude · 15/09/2015 13:45

original
That's a busy road with the traffic coming on and off the A40 and the traffic to the station. It wouldn't be my first choice

CruCru · 15/09/2015 13:54

Would you consider E1? Shadwell (my old area) is a bit down at heel (although REALLY close to the city and has both the DLR and the Overground). Whitechapel / Limehouse / Bethnal Green / Hoxton / Wapping / Shoreditch are all smart neighbourhoods these days.

TreadSoftlyOnMyDreams · 15/09/2015 14:03

That area between Greenwich and O2 is a bit weird, we thought. It has a strange tumble weed atmosphere. Will probably improve with age.

It is a little though there are lots of new things happening - bars and restaurants etc. I put the link in though more for comparison with what you can get down the river. If my hefty budget was only going to buy me a pokey overlooked flat with a small balcony in SE1 then I'd personally rather have a humongous penthouse beside a tube station that would put me in Waterloo in 15 mins...with a prospect of a leisurely post theatre tootle home on the riverboat. Lots of small terraced 2 bed cottages in SE8 & 10 available for the OP's budget if she wants her own front door.

SingingSamosa · 15/09/2015 14:14

Wow. I'm a bit Shock at London prices! I know I'm a country bumpkin but that's so much money for a two bedroomed flat!! A flat!!

This is what £700K would get you around our way, with a nice £50K to spend fitting it out in brand new stuff...
www.rightmove.co.uk/property-for-sale/property-51171515.html

MyHovercraftIsFullOfEels · 15/09/2015 14:20

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originalmavis · 15/09/2015 14:25

Not the greatest place to live. My friend works near there (no, not that!) and her office used to run a bus service to the local shops/sandwich bars as so may of the staff got mugged going out at lunchtime.

originalmavis · 15/09/2015 14:32

Probably a crap lease...

Loftslag · 15/09/2015 14:34

That's a nice looking flat - suspiciously reasonable, though. I bet the lease is really short.

grimupnorthLondon · 15/09/2015 14:55

I spend a LOT of time in theatreland/the south bank and we live at Newington Green between Islington and Stokey. You will get a really nice two bed flat in a period property here (prices are noticeably lower once you are north of Barnsbury/Canonbury) plus loads of independent restaurants, Clissold Park and the best fruit and veg shop in London (www.rocketandsquash.com/newington-greens/).

Ten minutes walk to Stoke Newington Church Street, 15 minutes to Upper Street/Highbury tube. And the 341 takes you direct to the National Theatre, the 73 to the British Library and the overground out to Richmond in one direction or Stratford/south London in the other. All of my liberal, middle-class needs in one place...

Original poster
Socrates67 · 15/09/2015 17:57

Thank you so much everybody. There are some brilliant suggestions here. I have arranged to view the one in EC1. I also really like the ones in Shad Thames and the one in SW1. I love the idea of going home by river boat. How late does the service run and how frequently?

I am now feeling much more optimistic!

OP posts:
originalmavis · 15/09/2015 18:09

I'd love to live in the Barbican. Not sure how much they cost though.

Suburbanutopiaitisnt · 15/09/2015 18:12

London is closed to normal people that didn't buy at reasonable levels.

I moved out, halved my wages but homes are 75% less. So I'm much happier and don't have to suffor poor air quality.