I hate London property prices

[Lolaredingfield10]

I was born, raised and still live in Uxbridge, Greater London.

DH and I have been saving up for a mortgage for years. Our Budget is £250,000

We have 2 DC under 10, we'd like a 3 bed semi with a garden in Uxbridge, even Hayes would be fine but the prices are all £400,000 +

The best we can get with our money is a 2 bed flat in our area and it's utterly depressing.

We don't want to leave London, I don't understand how anyone can afford these prices but Houses are being snapped up.

Surely this can't last. We can't decide between trying to save up for a bigger deposit and waiting a few more years or just settling somewhere else in England.

OP I know how you feel. We felt the same, had a big deposit and decent income. We started looking at 3 bed houses in SE London but they were too far out and transport was crap. We decided to instead get a 2 bed flat with a garden where we wanted to live and we haven't looked back. I never regret it. We don't have kids but are planning to and we'll just have to manage / move further out when we need to. I agree with others that you should buy somewhere as everywhere is going up but now I feel relaxed as yes the bigger house in zone 3 is going up but so is our flat so we can move when we need to. Hope this helps!

Btw not saying SE London is too far out! Just the areas we can afford a 3 bed. Love living in SE London!

chilipepper20
we've been referring to contractors, who will be employed by their own company. None of them will pay themselves a salary based on their hourly rate, indeed many will just scrap past minimum wage. They will garner income via expenses (such as charging themselves rental for an office in their own home), and take income via dividends which attract far less tax than via PAYE.

we've been referring to contractors, who will be employed by their own company.

OK. the thread is about London property prices, so how much contractors make isn't important unless they are a big group. I am not saying it isn't an interesting topic, but in the context of how affordable London property is to Londoners, it doesn't matter how much a small group of people make.

Just wanted to pop on and say we put in an offer for a 2 bed ground floor flat with a garden in Hayes End, about 2 mins from Charville Children's centre. It wasn't the dream house but we talked about it and location and being near our families meant more to us than space. A plus is the kids don't have to change schools, it just means a short car ride instead of a walk.

I'm still getting over my disappointment, yes our expectations were too high but it's still disheartening. We would have a loved a house but at least in this place we can decorate as we please and it's security for us.

Keeping all my fingers and toes crossed that you get the flat!
It sounds like a lovely place for you and your family

It's not just London. After 20 years as a property owner we have finally acquired our first garden - 2 bed flat in Edinburgh with garden(we'll currently it's a small gravelled area but it could be a garden in time) but very old lady decor and needing complete rewiring etc cost us?£250k earlier this year

madcap- but I assuming that is in the heart of the city?

I live 18 minutes from Princes Street by rail and my home cost me £210 for a 5 bedroomed semi set in ancient woodland.

Not particularly -it's in Portobello where I grew up. We need to stay close to my elderly mother, and my dh has epilepsy so can't drive which limits us but unfortunately Portobello is currently up and coming (partly because areas nearer town are already too expensive for a lot of people.) my sister has also just had to move and as a single mum on a low income really struggled despite her £100k deposit.

Portobello has always had a bit of a trendy following despite being on the edge of the city.
You have chosen quite an expensive area.
I don't live in the city itself, but I can be into Princes Street much quicker than you probably in a place where house prices are much lower.

I wonder what will happen to house prices over the next year.

The future looks very uncertain, Brexit will be triggered in the spring, German banks are at the point of collapse...

OP I really feel for you. I would have hated to ever leave where I grew up but I honestly cannot believe the prices you are having to contend with. At 19 I bought my first two bed flat, then a three bed semi at 24. Met XH and bought a five bed detached, left the arse and as a single parent bought DS and I a four bed end of terrace. How can young people get on the property ladder in London?????

I am honestly gutted for you having to consider moving from your home area just to get on the property ladder, I've had a look on line and just cannot believe the prices of houses, how do people survive financially after buying down there?

German banks are at the point of collapse

Are they?

I live in a small, rural market town in the south west. £250k wouldn't get you a three bed here either. And the only employment available is care work / retail at minimum wage levels

It's not just people in London who struggle to buy homes in the towns where their families have they lived in for generations, where their support networks are and where they'd like to raise families

I know this is a thread about London, but it's not just a London problem