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London houses for £650k-ish

110 replies

sunflowerparty · 28/06/2023 10:30

Hello, I'm a long time lurker, first time poster - it's been really helpful to read through your advice and experiences here!

I am a FTB looking for a terraced house to buy in London - 2x bedrooms is fine, the main thing is I'd like a garden with some sun and space for a little lawn. The top end of my budget is £650k (though I could probably stretch a little higher, say to £675k, if I really loved a house/area). I really want to buy freehold and am willing to save longer if I had to rather than compromising on leasehold / share of freehold now.

Obviously London is so expensive and it seems I'm very much at the low end there for a freehold house budget. I'm getting really disheartened because houses around this level are still flying off the shelves if they are in halfway decent condition and that supposed price decline is definitely not making itself known to me (one house I offered on recently went for almost £70k over the OIEO price, and £80k over what an almost identical house sold for last year). I'm on the brink of giving up.

Does anyone have recommendations for nice/safe areas with convenient transport links that might suit my budget? I think I'm probably priced out of Walthamstow; I've been looking on the central line out East but might be priced out there too. I tried Hanwell which initially seemed nice but didn't feel overly safe in the town centre (it didn't help that some guy yelled at me when walking back to the station). I'm flexible on which side of London.

Thank you!

OP posts:
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Crikeyalmighty · 19/02/2024 15:05

@ScribblingPixie shame it's sold-not a bad little home in a good area

Crikeyalmighty · 19/02/2024 15:45

@hellofrommyothername lovely!

SD25 · 19/02/2024 15:59

Happyasapiginmuck1 · 19/02/2024 03:23

I just don't get the attraction of living in London and paying that much for a house! What jobs do people have to be able to pay a mortgage on a £650000 house?! I happily live up Norf and my mortgage is £182 a month for a 2 bedroom terrace.

What a strange way to bump a really old thread. 🤔

ScribblingPixie · 19/02/2024 18:08

Crikeyalmighty · 19/02/2024 15:05

@ScribblingPixie shame it's sold-not a bad little home in a good area

Crikey, the streets at the base of Ally Pally behind Priory Road N8 are full of similar houses and also maisonettes with own front doors and individual gardens. A very good hunting ground for anyone looking for solid properties at this price.

Crikeyalmighty · 19/02/2024 18:14

@ScribblingPixie I know- we used to live there!!

ScribblingPixie · 19/02/2024 21:02

Haha, old information to you then. Such nice streets. I viewed some of the maisonettes years ago - would have got a great view of the fireworks.

Crikeyalmighty · 19/02/2024 21:12

We actually viewed maisonettes there too but actually bought a flat on Weston park in the centre - it was just as I was pregnant with our son back in 1997 and Blair brought in shared ownership on open market- they stopped it after about 18 months as it was so successful I believe that folks stopped buying new shared ownership flats!! They were lovely maisonettes too- not big but really pleasant

Happyasapiginmuck1 · 25/02/2024 02:03

SD25 · 19/02/2024 15:59

What a strange way to bump a really old thread. 🤔

If a thread pops up I assume it's current and rarely bother looking at the date. Why would I be bumping it?! I still didn't get an answer to my question anyway!

Twiglets1 · 25/02/2024 05:58

Happyasapiginmuck1 · 25/02/2024 02:03

If a thread pops up I assume it's current and rarely bother looking at the date. Why would I be bumping it?! I still didn't get an answer to my question anyway!

I’m sure you can Google well paid jobs. Some examples would be people working in the financial sector in London can earn extremely good money, so can people working in law.

But some people can afford 650k houses in London or other expensive cities not because they have a hugely well paid job but more because they had family help to get on the property ladder. Then the value of that property rocketed giving them an even bigger deposit for their next purchase & so they move up the ladder.

London prices historically have increased more than anywhere else in the U.K though not at this particular moment.

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