Rant - London rent prices...

[nicktay2605]

Lol at the people saying that the OP shouldn't be studying at a London university, that's hardly any use when he's a year through his course already is it? Some people on these forums can be so unhelpful.

OP, as some others have said, you should reconsider flat/house sharing. I shared with four other people at uni and had a great time. Yes you get less space and privacy, but it's an opportunity to live somewhere you otherwise wouldn't be able to afford and it gives you an opportunity to meet some new people too.

 

[Caged]

I'm sure the government can help with the expenditure. Afterall, they will invest supposedly £50 billion on the HS2 transport link, which will cut down transport from London to Birmingham by 20 minutes, wow; and I don't even like Birmingham.

I can't really pick too many holes in infrastructure spending. With HS2 I just wish they'd get on with it instead of spending millions in the courts.

Same with this extra runway crap, just build the thing. It shouldn't need ten years of dicking around.

 

[Uther]

Rental prices are just lolworthy, sure the bubble will have to pop eventually?

 

[antijoke]

Rental prices are just lolworthy, sure the bubble will have to pop eventually?

You've got to imagine they will eventually. I mean eventually they will be priced above what people can afford.

 

[delta0]

You've got to imagine they will eventually. I mean eventually they will be priced above what people can afford.

I'm not sure that is physically possible as that is not how markets work.

 

[timebomb26]

When I lived in London I wouldn't have even dreamed about getting my own flat with my partner. Massively expensive for what would probably be very average.

Ended up getting a room in a huge 4 bedroom shared out in Bounds Green. Massive bedroom, new kitchen, lounge/dining area with sky TV. Nice, clean and respectful housemates. All had dinner together once a week. Watched football with one of the guys. £400 each per month for me and my girlfriend, bills included.

Would much rather live in a house like that than some crummy studio. I have loads of friends house sharing in London who all have great housemates. Work a little harder and you can find something. No need to live with idiots.

 

[Caged]

There won't be a crash, there might be a slight readjustment, but so much of the "middle class Tory voter dream" revolves around owning a poorly constructed Bovis house in a suburb that you will see more and more extreme help-to-buy schemes rolling out if it looks like anything remotely resembling a crash is on the way.

 

[muon]

I'm sure the government can help with the expenditure. Afterall, they will invest supposedly £50 billion on the HS2 transport link, which will cut down transport from London to Birmingham by 20 minutes, wow; and I don't even like Birmingham.

The government already pays a lot of money for higher education. If they started subsidising rents that would potetially balloon out of control. The massive subsidies will severely impact the private rental market, as it will push up rents as students can effectively bid higher for properties.

There are 400k university students in London. If the government reduced rent costs by £100/week for 50 weeks that's £2bn extra every year and that's just London.

Justifying giving away that much money on higher education students who are on average more likely to be from higher income families and earn more in their lifetime is untenable. Especially when the government is cutting almost everywhere else due to the ongoing deficit.

 

[balky12]

Rental prices are just lolworthy, sure the bubble will have to pop eventually?

Rental prices are just simple supply demand? Not a bubble? Also I'm not entirely sure the housing market is in a bubble like it was in the early /mid naughties.

Back to OP; where do you go to Uni? If you don't have to go into zone 1 yiu can save a lot on travel fare. Will have to drop the dream of 4 bed house in London though... You're a student! Once you get a six figure salary you can perhaps revisit it.

 

[Xordium]

Rental prices are just simple supply demand?

The aspects that make up the actual supply and demand are very very complicated.

 

[balky12]

The aspects that make up the actual supply and demand are very very complicated.

No I agree, I poorly worded my point of view. In very basic terms there isn't a housing market bubble, IMO, therefore rental prices can't be in a bubble.

Still poorly argued. Basically current rental rates aren't going anywhere soon.

 

[muon]

The aspects that make up the actual supply and demand are very very complicated.

Nevertheless, still supply and demand.

 

[Caged]

Supply and demand, ish. You can more or less opt-out of being on the demand side of the equation with any other product, people can't do that with housing.

 

[Pestilence]

Okay so the whole 4 bed thing? I think everyone should have so much more space I don't think it's right humans live in such cramped conditions and be told that's how it is.

It's an admirable dream, no doubt. Philosophically, I agree with you.

The reality is much different, though. If you want to live in London, chances are that unless you're making an absolute killing, you're never going to see your own 4 bedroom place, with your nice space, garden and whatnot.

I think it's a great city, and always enjoy visiting. But I could never live there.

 

[Arthur Hucksake]

Sits looking around my nice 3 bed semi in Nottingham's grannyville burbs for £600 pcm on a mortgage ....with a big grin!!

So glad I escaped that dump down there.

Nobody really thinks of the realities when they opt for London.

Anyone who believes they need a 4 bedroom place... as a STUDENT for just two people, is a self entitled dumbo. Sorry.

Welcome to the real world.

We could potentially afford that, but the area would be nowhere near as nice. Need to sacrifice certain things in life. One of them is living in the capital. The other is expecting 4 bedrooms... for just two bloody people.

 

[Dunks]

Sits looking around my nice 3 bed semi in Nottingham's grannyville burbs for £600 pcm on a mortgage ....with a big grin!!

[snip]

Currently live in Long Eaton. Looking at buying a property down in London with my girlfriend who works down there, what you get down there for the same up here makes me sick .

£380k for a two bedroom flat in East London, £380k here is like 4 bedrooms, detached with a huge garden in a very nice area.

I could spend half the money and get twice the house, boo!

 

[Arthur Hucksake]

Currently live in Long Eaton. Looking at buying a property down in London with my girlfriend who works down there, what you get down there for the same up here makes me sick .

£380k for a two bedroom flat in East London, £380k here is like 4 bedrooms, detached with a huge garden in a very nice area.

I could spend half the money and get twice the house, boo!

I know mate, why I couldn't do it any more.

I'm a southerner, my other half is from up here and wanted to move down there for quite some years where she built up her career. Was over the moon to move back to Notts a couple of years ago.

You should consider moving somewhere like Buckinghamshire. Slightly better house prices and commute into the big smoke is do'able.

More peace and quiet too.

Where i'm from ( Reading ) is expensive but again it's a reasonable commute. 25 minutes into Paddington by train.

What really amazed me was the fact we only dropped £6k a year in wages between us but the property saving was covered 2-3 times over.

 

[dowie]

You should consider moving somewhere like Buckinghamshire. Slightly better house prices and commute into the big smoke is do'able.

I'd probably do that in a few years - could easily get a decent detached house there if I sold my flat in London.

Ideal would be to have a proper house just outside London and have a small studio or something in London to crash in occasionally during the week if working late etc.. maybe I should get a canal boat or something.

 

[balky12]

maybe I should get a canal boat or something.

I recon mooring costs would make house prices seem dirt cheap!

 

[At The Gates]

All you can afford is a 1 bed flat at best. If you look there are loads of 1 bed flats in London for 1k/month. You will have to look to zone 3/4 though, which is actually still London you know. You could rent a house for £1200/1300 in Leytonstone for that for example.

If you want to live in zone 1 then get an extra job and live in a shared room. Your 1k might stretch to that.

Also if you want to move to Sweden i would put your name down on the rent control housing list now. My friends tell me the waiting list is about 12 years.