To think this house is worth it and London won't crash?

[Yazhi]

After searching for a long time we have found a house in an area that both DH and I like. DH thinks we should wait and see if the prices drop in London. Flats seem to have dropped and he's hoping houses follow. Who do you think is right?

Jeez sorry that's so long!

@averywittyusername we must have sold around the same time! :D I miss it too (strolling around la dinette, crocodile cafe..) , and now am elsewhere due to work, but keep nostalgically checking Rightmove.

@Dannyandsandy

We’ve put in an offer for the first house

Are you the op, or has someone else gone for the house you wanted @Yazhi ?

I think London is a vibrant place, and that as everything starts to open up the attractions of the theatres, bars, restaurants and general buzz will pull people back. One challenge though is what happens in the work environment. Traditionally, London house prices have been supported by higher London salaries. For quite a number of jobs in banking and insurance they can now be done from anywhere, with firms happy to pay for travel to London 4-5 times a month. This could depress London wages, and might have a knock on impact on house prices.

Hi OP, can I ask what drew you to that area in the first place? Are you already renting around there?

Insane 😅
OP. That house is really not worth 1 million 600 thousand + !!

OP. That house is really not worth 1 million 600 thousand + !!

It is worth what someone is prepared to pay for it.

@Grellbunt DP and I are highly educated professionals so Reading still has it all

@TheSunShinesBright

Insane 😅 OP. That house is really not worth 1 million 600 thousand + !!

Please do tell us what it’s actually worth then…

Very true!
‘A fool and his money are easily parted’

I think I borrowed Futility Room from PigletJohn.

I seem to remember MH and CE were both sought after partly because they didn’t have a tube. They were viewed as villages where people lived that weren’t necessarily encumbered by the need to work in the centre on a daily basis. The long term residents I know socialise locally.
Although MH at least has Highgate Tube nearby.

OP. That house is really not worth 1 million 600 thousand + !!

Depends on how you value its worth.

@TheSunShinesBright

Insane 😅 OP. That house is really not worth 1 million 600 thousand + !!

Let’s meet back here in 6 months or so when the sold price is a matter of public record…

@Countrylane

I think London’s gone as low as it will. People are being summoned back to work, things will open up and people will remember why London is essentially the world’s capital.

London is essentially the world’s capital. 🤣 🤣

Yeah ok then

@Camdenish

I think I borrowed Futility Room from PigletJohn.

I seem to remember MH and CE were both sought after partly because they didn’t have a tube. They were viewed as villages where people lived that weren’t necessarily encumbered by the need to work in the centre on a daily basis. The long term residents I know socialise locally.
Although MH at least has Highgate Tube nearby.

Yeah, they are “villages” in one of the world’s most crowded and polluted cities, of course they are.

My goodness, the price! I bet there aren't many public sector staff living locally.
I don't know how schools and hospitals manage staffing?

@BeaumontHill

My goodness, the price! I bet there aren't many public sector staff living locally. I don't know how schools and hospitals manage staffing?

Not in the heart of chi chi Muswell Hull no, but plenty of flats and social housing within 15 mins or so by bus.

@Lulalu We are renting nearby but in a more expensive area. We will start paying our own rent in September and it has rather focussed the mind! We can only afford to buy a flat where we are and I don't want a flat. I also would prefer state schools and where we are now it's mostly prep schools or not great state schools. MH seems to be a place where the majority use their local school, the schools are great and I don't mind 5 minutes on the bus (or 15 min walk) to the Piccadilly line. Apparently cross rail is going to come to Alexandra Park overground eventually too.

@BeaumontHill there aren't- unless they have rich partners or lots of inheritance. As a previous poster said, there are a lot of young ambitious teachers working at APS etc but as many are in rentals/flat shares, they tend to leave after short periods to put down roots elsewhere.

There are other schools in the country just as good but with a much better retention of staff.

Depends on how you value its worth.

Not by a postcode!

@BeaumontHill

My goodness, the price! I bet there aren't many public sector staff living locally. I don't know how schools and hospitals manage staffing?

Also, throughout North London a lot of the Victorian and Edwardian housing stock has been split into flats/HMOs and is owned by housing associations. Many of the big houses fell into disrepair in the 60s and 70s and the councils bought cheaply. My own terraced street not far from the houses OP is posting has a mix of houses extended and renovated by well-off families and houses on the same footprint in housing association ownership.

[quote slippersandprosecco]@BeaumontHill there aren't- unless they have rich partners or lots of inheritance. As a previous poster said, there are a lot of young ambitious teachers working at APS etc but as many are in rentals/flat shares, they tend to leave after short periods to put down roots elsewhere.

There are other schools in the country just as good but with a much better retention of staff. [/quote]
Does retention of staff matter all that much when a child only has a teacher for one year anyway, and the staff who are there are good?

@HaveringWavering it's not ideal if your child needs support from their form tutor or head of year, or when they're doing their A levels and would like the same teacher for the duration of the course.

@TheSunShinesBright

Depends on how you value its worth.

Not by a postcode!

So how do you value it then? I’m really interested to know what you think that house is worth…

[quote slippersandprosecco]@HaveringWavering it's not ideal if your child needs support from their form tutor or head of year, or when they're doing their A levels and would like the same teacher for the duration of the course. [/quote]
Possibly, but OP’s kids are not yet in primary and less of an issue there I’d have thought. So many other factors could make a secondary school teacher move away -retirement, promotion, partner’s job- is it really worth tying yourself up in knots trying to correlate local economic factors and secondary school staffing over 10 years before you’ve ever started primary?