Rant - London rent prices...

[Ilikeitblackplease]

Then you have the affordable rent and builds scam by housing associations and developers. its goes like this developer go to local council say we would like to build on this land that the council owns, we will set aside 40% affordable property to buy.
Council sells it to them when the builds are almost complete they use the loop hole to buy of the affordable builds by giving the council some cash.
property developer wins by getting cheap discounted land mush less than market value and paying off the council. example council sell land market value 100million council sells it for 70 million developers use loop hole and pay council 10 million automatic gain of 20 million on land value.

 

[Ilikeitblackplease]

http://www.citymetric.com/politics/6-planning-loopholes-which-screw-over-affordable-housing-723
Here the other stuff that goes on its a disgrace.

http://www.standard.co.uk/business/...-loophole-quashed-by-high-court-10436984.html
this is what the Tories brough with them

http://www.newstatesman.com/politics/2014/05/developers-able-demolish-affordable-housing-provision

 

[nicktay2605]

Salaries in London are attractive. So is the social side of things. Depends what a person wants from life I guess!

Some people are just born there to. Big jump moving away from friends and family just to save a bit of money on your mortgage!

I was very tempted by a move to London. From a career perspective it's better than most other areas of the country, particularly in my sector. It's also where most young people seem to go after uni so I felt like I'd know a lot of people there.

However, the cost of renting/buying in any nice area was very off putting, and although lots of people say that it's great to have so much to do, most people I know who live in London have neither the time nor money to actually explore the city. Also, the pervading culture among workers within the City seems to be to go to a bar or pub most nights after work and I'm not a big drinker so I wouldn't be interested in that.

 

[wire-screw]

LOL four bed house for a student and his gf in London.

When you sober up you should consider a house share. I moved to London last year after graduating and found a decent sized room in a four bed house in Tooting for £500/month bills inc. I was on a pittance graduate salary of £22K. A year later I'm on 50% more and I can consider something marginally better. Maybe I'll have your four bed in Zone 2 in 20 years if I'm lucky.

Lol a student living in a 4 bed house in London?

Check your reality at the door mate.

It's not just London either, there's some new houses here in a ****e location and the two beds are up for rent at £1,200 a month!!! It's a joke.

Has it got to that part of the thread where no one reads it anymore. I never said I want a 4 bed house!

you're only a student - you should really be house sharing like most other students.

And then when you graduate you can move out of the over priced dump that is london

Using 'should' is interesting. I have to, yes. But I should be house sharing? Why? It's ****ing awful.

He certainly is with £1k a month for rent. His expectations of what £1k gets you is very much devoid of reality.

And did you like London and not look into the rent prices too?

When I worked in London I lived in a box room in shared accommodation. When you are young you suck it up. You are being totally unrealistic.

Not really. I'm just ranting on how I think it should be better.

 

[mid_gen]

I'm liking this, I think its the start of the end for the BTL scum: http://www.telegraph.co.uk/finance/...-landlords-wake-up-to-Osbornes-150pc-tax.html

Cracking, nice one George, I'd missed that.

BTL is a cancer, it just siphons money from lower incomes to the comfortable middle classes.

Incentivise investment in businesses, get people away from this obsession with property.

 

[lunar]

I bet loads of houses in london aren't occupied for most the year when you consider foreign investments in brick and mortar

You only have to go to Vauxhall Cross at night and see all the lights off in the expensive build. Surely, not everyone is out.

 

[Uther]

I'm liking this, I think its the start of the end for the BTL scum: http://www.telegraph.co.uk/finance/...-landlords-wake-up-to-Osbornes-150pc-tax.html

I'm wondering if this is why there seems to be quite a few small terraced houses appearing on the market now, that would usually be considered BTL properties?
Landlords bailing out already?

 

[balky12]

I was very tempted by a move to London. From a career perspective it's better than most other areas of the country, particularly in my sector. It's also where most young people seem to go after uni so I felt like I'd know a lot of people there.

However, the cost of renting/buying in any nice area was very off putting, and although lots of people say that it's great to have so much to do, most people I know who live in London have neither the time nor money to actually explore the city. Also, the pervading culture among workers within the City seems to be to go to a bar or pub most nights after work and I'm not a big drinker so I wouldn't be interested in that.

That's the catch22. I've been quite fortunate living 25 minutes by train from central London. I imagine a lot of students fresh out of Uni have dreams of the City. However relocating completely to London is a massive difference in living cost. If your on sub 30k (which most graduates will be on their first job) you will struggle to do anything apart from get by. Don't get me wrong it's do-able, but the is the quality of your life that great?

Start factoring in 4/5 pound for a pint and it does get crazy.

On your situation though I think you have been sensible. Big pub culture in London especially if you find yourself in the square mile of the city. I enjoy it, but I'm 26 and that's what I'm into. That and the raves. London has the likes of Fabric, MoS, Egg and the others such as XOYO, Great Suffolk street warehouse, etc. so it suits my lifestyle perfectly. I am also fortunate that I live a distance away that if I want to remove myself from that intensity I can.

 

[lunar]

Cracking, nice one George, I'd missed that.

BTL is a cancer, it just siphons money from lower incomes to the comfortable middle classes.

Incentivise investment in businesses, get people away from this obsession with property.

I don't mind people who go into BTL. But what I detest is when a landlord states 'this is my investment for my pension'. I rather feel sorry for the sod who rents the property, knowing that the money he pays goes towards someone's retirement.

 

[balky12]

Is BTL really that bad? Some people will just never be able to afford to buy their own homes, so renting is the only option. Also some people need to relocate often for wrk purposes.

However I might just be overlooking an angle. I don't think people should be financially helped out with schemes though if it's going to be used for that reason. But if someone can afford to buy a 2nd home and rent it out, why shouldn't they?

 

[delta0]

I'm wondering if this is why there seems to be quite a few small terraced houses appearing on the market now, that would usually be considered BTL properties?
Landlords bailing out already?

The title of the article is very over the top. It is actually to do with tax relief on mortgage interest payment and it also depends on how much income you have. It won't make any difference to 99% of landlords.

 

[Stretch]

The fact it's a capital city has nothing to do with it. Plenty of other capital cities (Paris, Berlin) are cheap enough to rent/live in.

I'm not that familiar with Berlin, but Paris is just as expensive as London.

 

[delta0]

Paris is a lot more expensive.

 

[dowie]

Just bought a large 3 bed terrace with a cellar, garden, shed, etc for £120k. Live near Leeds and the area isn't bad at all. No idea why anyone would live in London who isn't a millionaire

Yorkshire is very cheap for housing

at the extreme end - for 8 million you could get a 3 bedroom flat in Kinghtsbridge:

http://www.primelocation.com/for-sa...e6b9ff1066ae718a60e3e1b81#J0qPt1vELW2m7xBx.97

or a ridiculously massive house with dozens of bedrooms, 82 acres of land etc..etc.. in Yorkshire:

http://search.savills.com/property-detail/gblhchlac140262

 

[Stretch]

I'm also looking for a 5 bed with friends too, doesn't work out much cheaper.

You can live in London very cheaply if you're willing to share with 5 friends.

 

[adolf hamster]

Is BTL really that bad? Some people will just never be able to afford to buy their own homes, so renting is the only option. Also some people need to relocate often for wrk purposes.

However I might just be overlooking an angle. I don't think people should be financially helped out with schemes though if it's going to be used for that reason. But if someone can afford to buy a 2nd home and rent it out, why shouldn't they?

I get the impression the idea is if there were fewer btl houses, there'd be more mortgagable houses, this would mean more negotiating power to buyers (ie freedom of choice why should i pay your 150k when mr jones is selling same house for 140k) so house prices drop meaning more people can afford to buy houses.

Its sort of like building more houses but without the tedious prerequesite of building more houses and gives the government a big pile of money to boot.

Only folk that lose out are those who've got btl houses on morgages (ie medium wealth) but doesnt touch those rich enough to have btl houses mortgage free, which i suppose could be regarded as targeting the wrong people.



The root cause of all these problems is simply folk feeling such a pressing desire to live above their means rather than gritting their teeth and accepting that they cant have that holiday, or that new car, or replace their iphone every year.

 

[Cavallino]

http://www.zoopla.co.uk/to-rent/det...5738e6f5f60ae6a8d275a2119#i03heAxHXZ7lFRvg.97

Bag that. Nice area too

That cannot be right....

 

[dowie]

That cannot be right....

why not?

 

[Nitefly]

Everyone house shares - get over it!

 

[lunar]

Is BTL really that bad? Some people will just never be able to afford to buy their own homes, so renting is the only option. Also some people need to relocate often for wrk purposes.

However I might just be overlooking an angle. I don't think people should be financially helped out with schemes though if it's going to be used for that reason. But if someone can afford to buy a 2nd home and rent it out, why shouldn't they?

What schemes. You don't mean part ownership, where a buyer purchases say a quarter of the property. These properties cannot be let without full ownership.