Oh I forgot about Mike Baldwin. Typical fecking cockney he was too.
Steep rise in Londoners moving up north
- Thread starter horsechoker
- Start date
Yeah I realise I'm in a minority, but it just doesn't do it for me at all. I find it just provincial and dull, except I do like the High Level Bridge.
The Northumberland coast is totally glorious, however. The summer before last my wife and I walked along the coast from Seahouses to Craster via Dunstanburgh Castle and the own-brew pub at Low Newton. And back. One of the best walks ever.
I don't know why people didn't do this earlier, especially young people who haven't set down roots.
I know people who have travelled to London for a few years to get experience and build up their careers and moved back to the midlands when they've wanted to settle down. It's much more affordable.
On this same note, can white people please start moving back in the ghetto, especially yuppies. The houses are cheap, they're often close to city centres, lots of schools, lots of shops. The more of you guys moving back and settling down, the more stable communities we can have, the more we can work together to improve communities.
It's hard to have a community if everyone moves away and the only people living there are those who either plan to move, or have recently migrated and have bigger problems in their lives than being parent governors or potholes.
I suppose it's not just white people (although you lot are by FAR the majority so it'd help if you'd all stop leaving the asian/eastern european bits of cities). People like me also need to stop running away to the suburbs. If we all stayed and fought for our communities, we'd all be winners.
I know people who have travelled to London for a few years to get experience and build up their careers and moved back to the midlands when they've wanted to settle down. It's much more affordable.
On this same note, can white people please start moving back in the ghetto, especially yuppies. The houses are cheap, they're often close to city centres, lots of schools, lots of shops. The more of you guys moving back and settling down, the more stable communities we can have, the more we can work together to improve communities.
It's hard to have a community if everyone moves away and the only people living there are those who either plan to move, or have recently migrated and have bigger problems in their lives than being parent governors or potholes.
I suppose it's not just white people (although you lot are by FAR the majority so it'd help if you'd all stop leaving the asian/eastern european bits of cities). People like me also need to stop running away to the suburbs. If we all stayed and fought for our communities, we'd all be winners.
You're right there. I walked the whole Northumberland Coastal Path in the summer, it's what I do, and across the sands to Holy island as well. Beautiful.
exactly. i mean, if you are fortunate enough to sell your property JUST before the market crash, then yeah, of course you're going to make money
and if people think London properties are going to just continue to double every 10 years, they don't understand economics.We are two peas in a pod. I've done similar here in California. I am interested in looking at areas outside of London though since the margins seem much tighter in the City. I can't believe how much my old flat in Canning Town is worth and just how much the whole East End has changed. I think you're right about Crossrail being a game changer.
I hear more NY and Boston accents in the Tampa Bay area than southern ones. It’s actually a joke here that the farther south you go, the more northern it gets. The Florida panhandle, being as close to Alabama as can be, still attracts a lot of snowbirds who are there from the midwest.So basically Scotland is to England what Florida is to the the northeastern states.
I'm from the west side of London and therefore not fully acquainted with the east London property market. I am aware that historically West London property is valued much higher than East London. It still is and overall I can't see that changing much. There will always be pockets of growth and the close proximity of Canning Town to the City will be a big factor. The Old East End has become more "cultured" in recent years with Spitalfields and Brick Lane market moving into the trendy arena. Shoreditch and Hoxton have gone stratospheric. I remember these areas being solid "working class" areas and now they are super trendy. The higher values are spreading out in waves and Canning Town is just siting there waiting for the boom. It sounds like it has already happened. I suspect that will continue as there is still potential with some of the old housing stock. Crossrail at Stratford and Maryland makes that area 2 stops from the City and this will make a big difference. It also allows commuters from much further afield to travel in so anywhere along the line will see the benefits.
The London property market historically has allowed many people to make huge sums at all levels. Young couples have made money, downsized and moved out to Essex or wherever suits them. White flight I think it is called. A horrible term but it does sum up the cold harsh reality of what has happened on a domestic level. London also has an international element to its property market and to be frank it has made it tough for the locals. International investors on many different levels have taken advantage of the slack taxation laws and bought Luxury apartments. This market is self perpetuating and the values have been going up for many years now. The problem with this is that the apartments are sitting there empty. Hundreds of thousands of empty luxury apartments throughout London and the locals can't afford to live in them. The construction industry has been too busy building them that they don't have the rescources to build affordable housing and property values just go up because demand outstrips the supply. There has been talk of a crash for years but it never really happens. Even the credit crunch in 2008/9 didn't have a massive effect and that recovered within a few years.
It's complete luck. Buying a house from someone you know who doesn't want to use an estate agent. Selling just before a huge worldwide financial crash. Being in the right place and the right time to buy a listed building because of a legal dispute, and then watching it more than double in price in 10 years. It's not exactly something anyone can try and emulate is it?
I hear what you are saying but look at the link below. On average over the last 20 years property in London has doubled in value every 10 years. That is London as a whole. I haven't checked but I suspect if you look at west London compared to east London it is probably more.
It's not complete luck. Everybody saw the 2008/9 crash coming and we sold before and went into rented accommodation. The family were prepared to do that and it wasn't luck. We were lucky with the listed building but even then my wife was on the internet the day it came on the market and offered them asking price even before she spoke to me. A few weeks prior to this we had been gazumped on our dream home and were feeling very depressed about the market in general. We didn't think we would ever find the home we wanted and then the listed house came up. It was obviously a good deal and we moved very quickly and were able to do so because we had already sold and had the cash to buy straight away. She called me at work and said "I've bought a house". I reminded her it was customary to discuss matters with your husband beforehand and she replied that she had offered asking price. I was stunned at first but soon came to realise she had done exactly the right thing. Apparently you can withdraw an offer shortly thereafter anyway. The house wasn't ideal and needed work. I've worked hard on all three of our properties over the years and it has paid off. Yes we had a bit of luck along the way but the hard work wasn't luck.
Anyway look at the link and see how much you make just by being on the London property market without hard work or luck.
https://landregistry.data.gov.uk/ap...ry.data.gov.uk/id/region/london&to=2020-01-01
There are people all over London who could easily sell up, downsize and move to the country. It's normally family ties that prevent this but I suspect many more people will move out or "up North". I think the disparity in housing values has many causes and it needs to be redressed. HS2 may be a start but I can't help but think London has for too long been the recipient of International investment and this needs to be spread out over the whole country.
i mean it stands to reason that London property can't continue to double every 10 years, it's already ridiculously expensive as it is. there has been a clear property boom between the early 90s and the late 10s. if you were lucky - yes, lucky - to have bought pretty much anything in London in that time then you will be sitting pretty right now. you wouldn't have needed to do any work or anything to the property and you would have still made a fortune. that's all there is to it.
but that is not a sustainable market. and it's not a market that anyone now can enter and expect the same kinds of returns. yes, there is still money to be made but it will be over a much longer period. the craziness of the London property market has helped a few people like yourself, but unfortunately to the detriment of anyone else (i.e. younger people) now trying to buy their own place.
That's Essex. We don't associate with Essex.
Go back even earlier. The property market in the 80's was just as inflated and people were say it can't continue then. They have been saying it for 40 years. There have been some corrections along the way but overall it has continued to rise at a crazy rate.
I don't have a crystal ball and yes it could crash at some point. I have a 30 year old step son and daughter who are young professionals. They were given a little bit of help but they managed to get a deposit together after saving up their salaries and have been on the property market for approx. 5 years. They bought a dirty little one bedroom ex council flat in Brixton and sold it for more than double they paid for it after 3 years. It almost trebled in value actually. They bought for £115k and sold for £300k. They were lucky. They did the place up a bit but nothing too taxing. They just bought in the right area at the right time. It is possible for young couples to get on the housing market but the sacrifices they have to make are huge. They both worked like dogs in their careers and chose very difficult jobs. You have to be smart but there are still opportunities out there and I can't see why the London property market should crash any time soon. The yuppy is alive and well and living in Peckham.
People have been predicting the bursting of a bubble for years and it hasn't happened. I know everything that goes up has to come down at some point but London seems to have bucked the trend for 40 years.
A bit of an aside but does nobody else find it weird that we implicitly accept you need to be in a couple to buy a house? I've always thought it's one of the lease progressive things about modern society. I imagine it's about the worst thing in the world to have to go through a break-up when you're both rooted to a mortgage, and then realise you probably don't have enough cash/equity to buy another place of your own after all is wrapped up.
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Its not weird its just economics. Being in a relationship is not regressive. Perhaps being in a bad relationship is.
Marriage has always been like that. You have to weigh these things up when you think it's impossible to live with somebody. Can you afford to live without them? Divorce runs through my family and I'm the only one who hasn't divorced. I married at 38 after watching my whole family disintegrate into painful and impoverished circles. I think you have to prepare yourself for some pain when getting married. As a bloke I'm prepared to accept I'm not going to get my way all the time but it has never been a better move to sell up and split up. I've seen people go homeless because they couldn't get on with their wives. Take the pain and get the gain.
You're prepared to accept you're not going to get your own way all the time? Maybe you've just worded it badly but it reads that really you do think you should get your own way all the time.
Houses aren't worth living in an unhappy marriage, life is just too short for that.
How does saying "I'm prepared to accept I won't get my way all the time" read as I think I should get my way all the time?
I agree it's not worth living in an unhappy house but there's more ways than one to resolve such a problem. People also have to think about marriage a bit more before they take the plunge. I waited till my late 30's before I found the right person. It's not easy to find that person and to be honest I probably wasn't ready for marriage until that point anyway. People rush in but this is going off thread.
@blue blue thanks for the property posts but remind me to never seek marriage advice from you.
Shame. You could learn plenty.