London rent prices even more ridiculous!

Till interest rates start going up



It's al down to supply and demand really.
Government don't mind wealthy foreigners buying up UK property as safety deposit boxes.

and literally nowhere else on earth offers a similarly useful PhD?

Its the free market in action. You have to be really stupid to move to London, it clearly doesn't want you.

I wouldn't move there if you paid me £200,000 a year.

The point is that if you were earning £200K, the chances are much higher that you would be working in London, or close to it. London's like a manufacturer of high salaried people and was even more so when the City was at the top of its casino game, it's come off that peak a little, but there's still a lot there, plus all kinds of other highly paid people.

The difficulty in London is not for the very well paid, the place is designed to serve them - its the millions of London residents who aren't on stellar salaries who struggle all the time. There was a report today that said that the cost of abnormally high housing costs in London means a loss of £10bn to the economy because it restricts the spending power of millions and instead channels the money into landlords, boosting the inheritances of the upper middles and the wealthy and property speculators.

It's no way to run an economy.

Yes - if you're reasonably intelligent you havea a choice between living in London, earning £200,000, working 70 hour weeks and spending half your life commuting and seeing half your net income disappear in transport and housing costs; or living outside London, earning £50,000 for a 37 hour week, buy your own home, and having a really genuinely high quality of life.

Has anyone seen this? http://www.bbc.co.uk/news/uk-england-london-34404651

There's always stories of beds in kitchens etc, however this is one of the worst I've seen yet!

Sometimes I hate living in London!

To be fair I live in west London and I share with my partner but the reason we need to be so close is because we both work very long hours, normally finishing around midnight so it's not feasible to live any further out, especially as tubes stop before we finish


Posted from TSR Mobile

They are listed as Sutton but they are really King standing and falcon lodge.

Sutton has always been seen as a posh area but in past the posh bits have just been four oaks and little aston with the 5 bed plus houses, the rest has all been middle class

What id say is since when is having to earn 6 figures to buy a home middle class


Posted from TSR Mobile

Mass low skilled immigration is the problemAlso, send those on benefits to live in Cornwall or Devon or somethingBuilding more houses is not the solutionAim to reduce London population to about 6 million.

Yes - if you're reasonably intelligent you havea a choice between living in London, earning £200,000, working 70 hour weeks and spending half your life commuting and seeing half your net income disappear in transport and housing costs; or living outside London, earning £50,000 for a 37 hour week, buy your own home, and having a really genuinely high quality of life.

realy? My parents have lived in morden since 2012, and I would hardly describe Sutton as posh. Seems quite average in the grand scope of London. That is unless you equate relatively high house equity with poshness?

No, that's not true - I suspect you're just using this as a coat-tail for a xenophobic anti-immigration agenda. Sure increased demand drives up prices, but low skilled workers get low paying jobs - which means they are only able to afford low rents. So that doesnt explain why many areas in London have average rents that would put the someoone on the average wage & living expenses, basically at a subsistence level, living from paycheck to paycheck.

The reality is actually you get polarisation. There are some parts of london that have become ghettoised with the influx of migrants, and in these areas rents are lower than average, and some areas where numbers have moved to escape the ghettoisation (eg. Clapham) where rents are higher than average.

This is actually part of the problem in the UK - there is a definite religion of home ownership.

This unfounded belief many people seem to have that once they own their own home the planets will align and all their troubles will melt away. It's this blind dogma that leads many people to do reckless things in the pursuit of home-ownership nirvana like take 95% LTV mortgages which they end up buckling under the weight of.

It's a complete joke. London as a city is becoming unlivable. I mean, at least other expensive cities in the world, e.g. Singapore, Sydney, Zurich, Berlin, have good travel systems, good public services and other perks that make the rent prices seem reasonable. TFL is **** and always has delays, public services are underfunded and cannot function at the current capacity. This is ridiculous.

Reason is because a lot of investors abroad from china and russia are buying flats and its causing prices to flux

It really isn't that hard. I'm on PhD wage - 15800 for the year, about 1300 a month. After rent, bills, food and a few cinema trips/nights at the pub I usually have about 200 quid to put away each month. Most graduates are on a much higher salary than me, they just spaff all their money away on alcohol/living in trendy areas. My boyfriend, for example, saves up about 11-13 grand a year or so.

I did my master's in London and considered going for a PhD there but on a standard stipend it's tricky to save up anything substantial. Frankly I don't think it matches up to the cost of living there, which is a shame given how much effort and hard work goes into a PhD. I was really lucky to get mine in Oxford where my parents live so my stipend of 16k pretty much all gets saved.

This is actually part of the problem in the UK - there is a definite religion of home ownership.

This unfounded belief many people seem to have that once they own their own home the planets will align and all their troubles will melt away. It's this blind dogma that leads many people to do reckless things in the pursuit of home-ownership nirvana like take 95% LTV mortgages which they end up buckling under the weight of.