To think that there's no such thing as the "housing ladder" in London anymore?

[hespia]

Because London property prices are so high the first 'rung' on a housing ladder, i.e. a one bedroom flat, is often the most a couple will be able to afford in the long term.

Even for a well paid professional couple, the cost of moving from say a one bed flat at £450k to a two bed flat at £650k, would cost £20k in stamp duty alone.

Coupled with the fact that apartments in particular have been stagnant in most of London since about 2016, it's very difficult to justify the cost of moving once in.

In zone 1 perhaps, but decent areas of zone 3 have nice 3 bed places for £650k, which is a family home, so i guess I'd say that's within reach of a professional couple with 1-2 kids?

Was saying the same about Dublin, today. Listening to conversations in the playground (posh area) even those with the money are complaining about the price of property…
God help the rest of us!

There is, if target up and coming areas.
My husband and I bought a run down 3 bed semi in 2012 in a zone 4 area which was due to get the jubilee line for £300,000. Sold it it 2017 for £550,000, got another property which needed work, sold 2022, for £790,000. Same again and our current home is worth £1 million after some work.
Both of us are nhs nurses so not huge salaries, and we knew that to get what we ultimately wanted, would have to work our way up the ladder.

Foregin investors are driving the prices in London