Zone 1-3 people, where do you live?

[msrisotto]

And do you earn millions and millions? Or live in the tiniest of flats?? I would love to live in zones 1-3 and have money that would buy me a palace in some places but sadly not in London....

The ex-council flat I had was a really big 2-bed garden flat. Never had a moment's trouble with it or the neighbours (I bet most of them are privately owned now anyway) and it was a stone's throw from Clapham Common tube...

Jammy, if you had bought in London in the 80s you would very possibly have been in negative equity, like wot I was for 10 years. I bought a flat in Hackney in 1988 for £76,500 and sold in 1998 for £75,000. For a lot of that time I had to let the flat and rent elsewhere (as had to move for jobs). People forget that house prices have not been on an ever-upward trajectory in the recent past.

You're right Minty. I look at the past generations having had it easier forgetting there has been both peaks and troughs in the market. Negative equity aside, surely it was easier to buy your place in 1988? I think most in the 20-35 age group would give an arm to be able to afford anything in London right now.

But I and many of my friends couldn't afford to buy anywhere in London till we were late 20's/early 30's. I think today's 20somethings have unrealistic views on owning their own houses - it takes time to save for a deposit and get higher on the payscales.

Jammy - I bought with a friend. Our joint income was £26,000, but interest rates were an awful lot higher. At one point I was bringing home £750 per month and £350 went on the mortgage. We had to have a 5% deposit, which we saved for.

I don't think it unrealistic to want to own your own place in your twenties. It's no god given right. But if people want to, in an ideal world affordable housing should be available.

No weed-smokers when we had an ex-council flat in Hammersmith. Loads in nice streets I've lived on before and since.

We couldn't afford anything larger than a 2-bed in Hammersmith, even council, which clinched the decision to move south where we could afford beautiful 4 beds.

Anyone snobbish about south of the river hasn't been Between the Commons, or to Dulwich.

notcitrus I have to admit I'm one of those north of the river people. I'm not snobbish at all. [Grin] But given the choice, I'd always stay north. It's just what I'm used to.

Jammy, you can change - DH is a south of the river convert

Bought a 2 bed flat shared ownership in N1 in 2004 on my own, profit helped fund deposit for 3 bed decent sized house with garden in Walthamstow, bought last year for £265k with DH. I love it here, good green areas, primary schools, victoria line and zone 3. Am definitely not earning millions, very average income.

Hey dragonwick - I'm in Walthamstow too!

Neighbours

SW London, not earning millions but there are plenty around here who are. The depressing thing is how quickly prices have risen in the last 10 years. Eg the houses on our street that currently go for upwards of £600k were about £150k not that long ago...

Wandsworth town!! I earn less than London living wage and DH earning less than used to due to new/more satisfying job. Rent is ridiculous but we don't have kids so fewer expenses there. Lovely area. Moving to forest hill soon which will be nicer flat and cheaper.

Btw, forest hill flat is one we are buying. £275k. Makes me sick but cheap ish for London!

Forest Hill is ace! Fab sweet shop and swimming pools, what more could you want? Welcome to the hood, Seminyak.

I am in zone 4 South London. Going to work takes 12mins by train to London Bridge and total 35mins door-to-door journey. Our house was what we can afford (cheapish) and in any way, mortgage is nothing compared with childcare costs (the latter is real PITA).

Ah thanks mintyy :)

SW London here, nappy valley. how did we afford it... we are both on city wages but never spent what we earned... always lived quite frugally, only just had first DC so no child expenses till now... both got on property ladder early and paid down mortgage with spare cash, so we benefitted from price rises in mid 2000s.

West London rules!

I moved from 2 bed ex council flat in Shepherds Bush to the Queen of suburbs aka Ealing and love it here. Small 3 bed terrace but we've done the loft so now 4 beds. A bigger, end of terrace 4 bed around the corner has just gone on for £720,000 but I can't believe they'll get that, it's ridiculous!!!