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[feeutfo]

Stock market can be a good medium/ long term investment, but its not for the faint hearted.

Not for the hard of understanding either  :-? Like me. 

[aaronjb]

Not much shifting down around me, either - my neighbours put theirs on for £335k (possibly a little optimistic but it's a 4 bed detached with garage and 100' garden) and had zero interest.

Put it up for rent at £1200 a month and it was rented out within days..

 

It amazes me that people are prepared to kiss goodbye to that much cash just for a roof over their head. Fair enough if it's going to pay off your mortgage, but when it's paying off someone else's...

Kevin

I'd never pay that much in rent (it was bad enough paying £450 a month in my first flat!) .. but I do pay significantly more on my mortgage (over 50% of my take-home at the moment )  :-/

Now if I could just find a rich woman to pay half.. or hell, just one with a job would be a good start.

[albitz]

Depends where you live. Renting private in London, £1200pcm doesnt get you much.

[tunnie]

Depends where you live. Renting private in London, £1200pcm doesnt get you much.

It would actually get you a 1 or 2 bed flat here in Acton, in a 'posh' area like Chiswick it will barely get you a studio flat!

I got 15k off the asking price of my flat, my aim is to wait until Crossrail is completed (due 2016 (assuming it does not get canceled!)) As Station right outside my flat will take you to Tottenham Court Road and then onto Canary Wharf, so expecting prices here to rise.

I paid 200k for my 1 Bed flat 4 months ago, which as London prices go quite reasonable, I could have got a lot more property for my money outside London, but this way it costs me nothing to get to work, and i could rent it out for damn near what the mortgage costs. Two big plus points!

Interestingly when I was looking 6 months ago, a flat opposite, was on for £190k, now an identical one just came on the market at £230k 

Optimistic i think, but I am watching it with interest 

[albitz]

In trendy Shoreditch £1200 pcm gets you a reasonable sized 1 bedroom flat in not very nice condition above a shop in an old victorian building.
In Bromley by Bow (about 2 miles away) it gets you a nice new 2 bedroom flat on the ground floor opposite the tube station, with your own private parking space.But its a crap area and not very trendy. It is however very close to the Olympic site, so in a couple of years time it would be worth moving out for a couple of months and sub letting for a tidy profit.
My daughter ignored all these facts and moved from the new 2 bed flat to the little dingy flat above the shop, because its in trendy Shoreditch - youth, its wasted on the young.

[tunnie]

In trendy Shoreditch £1200 pcm gets you a reasonable sized 1 bedroom flat in not very nice condition above a shop in an old victorian building.
In Bromley by Bow (about 2 miles away) it gets you a nice new 2 bedroom flat on the ground floor opposite the tube station, with your own private parking space.But its a crap area and not very trendy. It is however very close to the Olympic site, so in a couple of years time it would be worth moving out for a couple of months and sub letting for a tidy profit.
My daughter ignored all these facts and moved from the new 2 bed flat to the little dingy flat above the shop, because its in trendy Shoreditch - youth, its wasted on the young.

Funnily enough mate I go snowboarding with who is a Designer lives in Shoreditch, he works in Battersea but won't move closer 

He pays £800/m for a studio flat  - When I had my flat warming we both agreed his entire flat is about the same size as my bedroom! 

More people would buy if they could, first week I was in my flat there was a piece on the news saying young folk in London will not get on to the property ladder until mid 40's! - So I am quite chuffed to be on it at 26 

I sacrificed being 'trendy' by living at home for 3 years to save up

[albitz]

I find Shoreditch - Hoxton square in particular - hilarious rather than trendy. People wearing the latest style of glasses with no lenses etc. I saw a band playing in a pub in Hoxton in August. They were all wearing ski masks ( to look like well ard bank robbers ?) but because it was so hot, they were all at the point of collapsing and had to take them off.
And it is positively uncool to be hetrosexual. I think some of the young blokes who walk around there holding hands are probably straight as an arrow but are ashamed to admit it in case they are persecuted.
Pretentiousness rules. ........but then I am old
I think as a long term plan, you have done the right thing Tunnie.Unless of course the whole western economy collapses, but you cant worry too much about things like that, or you would never do anything.

[albitz]

I bought my house 24 years and 10 months ago. If it all hadnt gone tits up about 10 years ago I would be just about to become mortage free, rather than paying rent until my last breath. I dont like to think about it too much, its too depressing.

[cam2502]

im renting just now. £460 pcm plus council tax and bills. 3 bed flat. thought that was a bit steep but not after reading tghis thread!

[maria]

I am in a private rented 3 bed house and my rent is £575 and thats with out my bills and i am not in a posh part of cardiff just in a scum part but it's ok as i keep my self to my self so to speak.

[Elite Pete]

I bought 3 properties about 5 years ago as a pension, all are let out but the best is the student place in Liverpool and I get almost a 10% return on that every year so i'm happy 

[omegod]

To be honest i bought mine 4 years ago and its only worth what I paid still, Others here have mentioned how difficult it is to get on the ladder/ move up it. I have seriously considered getting shut and renting in a nicer  area actually I want to live in. To move i will need a deposit of around 30-40,000 which in this day and age is not going to happen!

Tough times for some    Not too bad for others more fortunate

[Danny]

mine's not too bad, its worth £27,000 more than i paid 2 years ago

[Field Marshal Dr. Opti]

I am in a private rented 3 bed house and my rent is £575 and thats with out my bills and i am not in a posh part of cardiff just in a scum part but it's ok as i keep my self to my self so to speak.

That does not sound good ...Maria... :-? :-?

[HolyCount]

In general here in the south west prices are at 2005 levels. £180k will get a nice-ish 3 bed semi. in a nice area. £140k will get the same in a not so nice area.

Asking prices are still about 10% above the actual selling prices, so sellers are still on the optimistic side, but generally willing to drop if no suckers buyers pay the asking price