to ask if I can afford to live in London long-term?

[Coastalwalks]

Hi all,

First time poster! I start with all the caveats about how I know I am relatively fortunate and have nothing to complain about, and hope that all advice given will reflect this.... hard hat on!

I am 28 and live in a rented flat with DP in London. We recently had to move because our previous landlords could no longer afford their mortgage payments due to the Truss 'mini-budget'. We are now paying the highest rent I've ever paid, and I'm really starting to chew over the feasibility of living here long-term.

For context, I used to work in professional services on a p good salary (£45-55k), so I had OK savings. Last year I was offered a training contract with a law firm, and am now studying the legal conversion course before I join the firm. I applied to a firm that offered interesting and varied seats over one that would pay an eye-watering salary. If I qualified in London I would likely do so in 3 or so years on around £75-80k.

I have lived in London for 10 or so years, since uni. All my friends live here, and there is loads I love about the city. I nearly bought a tiny flat a couple of years ago, but pulled out as their were subsidence problems. However with every year that passes housing just seems to get costlier and costlier - even with current mortgage rates.

I have had to dip into my savings to support myself whilst studying (the stipend from the firm just doesn't cover my rent and living expenses... the London rental market is mad...) meaning I have £20k left in an ISA, earmarked for a housing deposit. But the simple fact is that realistically that's not even 10% on a shoe-box in Catford. I find myself increasingly exasperated by the fact - with current house prices - you can't have a 'normal' lifestyle in London unless you have an abnormally good salary.

All of my friends who own their homes do so because their parents paid for them! And I just don't come from that kind of background.

AIBU to think that in order to have a 'normal' life (i.e. house and kids) DP and I should move to a different city? and if so, where?

Thanks !

And yes, property in London is expensive but energy, water, wifi and council tax are not necessarily more expensive than elsewhere in UK. And public transport is very good and excellent value.

Some of this depends on the area of law you intend to qualify into. The amount you can earn PQ massively varies depending on that and in more commercial/corporate areas of law, you can easily earn enough to buy a nice house, albeit not in Zone 1.

But also where such work exists depends on which area you qualify into as well.

More generally, Leeds is a thriving legal market - better, in my view, than the one in Manchester.