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SHERWICK

I Earn £100,000 Pa, So What Can I Afford In London?!

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On a 3.5 multiple, and I'll ignore anything in zone 1 (of course!).

So here I am with my £100k a year job... what can I buy?

Note. I would prefer a house, not a flat, and would also like to live in a nice area where people around me are on a similar household income (my partner is on £27k, but I don't want a joint mortgage).

I look forward to your wonderful examples of value-for-money housing in London!

:lol:

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On a 3.5 multiple, and I'll ignore anything in zone 1 (of course!).

So here I am with my £100k a year job... what can I buy?

Note. I would prefer a house, not a flat, and would also like to live in a nice area where people around me are on a similar household income (my partner is on £27k, but I don't want a joint mortgage).

I look forward to your wonderful examples of value-for-money housing in London!

:lol:

How about a terrace in East London?

E17 Terrace

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On a 3.5 multiple, and I'll ignore anything in zone 1 (of course!).

So here I am with my £100k a year job... what can I buy?

Note. I would prefer a house, not a flat, and would also like to live in a nice area where people around me are on a similar household income (my partner is on £27k, but I don't want a joint mortgage).

I look forward to your wonderful examples of value-for-money housing in London!

:lol:

Yep: three bedroom terrace in "East Dulwich" (i.e. Peckham / Camberwell). 300k will stretech to a two bed flat in a nice bit of Clapham if you want to associate with the accounting and banking set.

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On a 3.5 multiple, and I'll ignore anything in zone 1 (of course!).

So here I am with my £100k a year job... what can I buy?

Note. I would prefer a house, not a flat, and would also like to live in a nice area where people around me are on a similar household income (my partner is on £27k, but I don't want a joint mortgage).

I look forward to your wonderful examples of value-for-money housing in London!

:lol:

Not another moaner who wants it all on a plate. A house! You got to start at the bottom you know.

Nice luxury 1 bed flat or 2 bed over a chip or kebab shop.

If you want more, get a 2nd job, start your own business blah blah.

Decent area? Dear oh dear you have no idea.

It was always tough this buying somewhere to live you know.

Well so I'm told.

:)

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HAHAHAHHAHAH

he said he wanted to live in LONDON! not frikkin ESSEX!

yes, either zone 2 or 3 in some sort of house, not a flat.

Surely that's possible on a salary of 100k pa?! :o

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On a 3.5 multiple, and I'll ignore anything in zone 1 (of course!).

So here I am with my £100k a year job... what can I buy?

Note. I would prefer a house, not a flat, and would also like to live in a nice area where people around me are on a similar household income (my partner is on £27k, but I don't want a joint mortgage).

How much equity do you have? People on 100K aren't usually FTBs.

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I earn 65k pa in the Midlands wife earns a lot more. We cannot afford to buy our

house. Currently valued at 700k.

Up with the crash!!!!

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Central London house prices to surge 8% in 2006, says King Sturge

Published: 16:25 Thursday 05 January 2006

London house prices are set to rise 8% this year as the capital’s residential property market continues to recover, according to property consultant King Sturge.

House prices in the prime central London area rose 4.8% in 2005, but King Sturge believes growth will be almost double that this year as house sales pick up again following the recent slowdown.

Overall, King Sturge predicts prices will expand on average 3% in the UK in 2006, with London and the South East tipped to outperform the national market. In 2005, the average house price also rose 3%.

Guy Weston, a residential researcher for King Sturge, said the market’s resilience in 2005 would support buyer confidence in the year ahead. He added that foreign investment in the UK market remained strong.

‘Structural under-supply of housing will continue to underpin the market as medium-term household growth projections exceed net new housing supply by 29%,’ Weston said.

‘Employment is high with both debt costs and inflation historically low. The economy is showing signs of increased stability and less volatility than in previous downturns. This is good news for the housing market where one of the key factors underpinning pricing is a sound employment market.’

Meanwhile, Weston said Chancellor Gordon Brown’s U turn on Sipps last month would have little impact on the residential property prices, including the city centre apartments market.

‘We estimate that no more than 5% of second half 2005 sales were Sipp related,’ Weston said

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On a 3.5 multiple, and I'll ignore anything in zone 1 (of course!).

So here I am with my £100k a year job... what can I buy?

Note. I would prefer a house, not a flat, and would also like to live in a nice area where people around me are on a similar household income (my partner is on £27k, but I don't want a joint mortgage).

I look forward to your wonderful examples of value-for-money housing in London!

:lol:

Went to visit a friend in Esher the other day - they are looking at buying a cr@p bungalow for the princely sum of £740K - I suggested that if I was him I would rent a 3 bed house on the smae street thats up for £1100 a month save his huge salary (like yours) and live like a hermit for 4 years and hten get out of the rat race for good .... didnt go down too well!

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300k will stretech to a two bed flat in a nice bit of Clapham if you want to associate with the accounting and banking set.

yeah that sounds like party central ? book me into the adventure.

alive and licking....

bah dah dah dah.

bah dah dah dah.

ba bah dah owah.

ba bah dah owah.

repeat

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How about a terrace in East London?

E17 Terrace

The question (what can I afford on 100k a year with a 3.5 multiple in the London area) and the response just about sums it all up doesn't it! The UK property market is so out of touch with earnings that even the crappiest of houses are unaffordable for the top 1% earners in the country!

Its really a great tragedy that HPI ever happened.

Edited by Realistbear

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The question (what can I afford on 100k a year with a 3.5 multiple in the London area) and the response just about sums it all up doesn't it! The UK property market is so out of touch with earnings that even the crappiest of houses are unaffordable for the top 1% earners in the country!

Its really a great tragedy that HPI ever happened.

worth repeating this bit: "EVEN THE CRAPPIEST OF HOUSES ARE UNAFFORDABLE FOR THE TOP 1% EARNERS IN THE COUNTRY!"

:huh:

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People earning £100k in London are a dime a dozen. Yet they think they are special and expect a special property. Thats not going to happen.

rubbish. there are over 5 million people in London, and only a tiny percentage of these earn over £70k, never mind £100k.

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rubbish. there are over 5 million people in London, and only a tiny percentage of these earn over £70k, never mind £100k.

I agree with you Sherlock, from memory the average wage in London is c36kpa (give or take)...I'm in a similair boat to you (good salary, decent stash), but have really struggled to find anything. I know it sounds like whinging, but to maintain as high a salary as you do I bet you have to work pretty hard (I do), so its pretty depressing to think that if I wanted to buy a reasonable sized house I'd have to buy some dump in a crappy area where I'll get beaten up as I walk home from work late at night!

I come from up north, and my wife a Canuck, so we compare what we can get for £400k in London with what we can elsewhere and it is, literally, insane.

I thing a move abroad is the key.

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looks good... apart from the fact that it's in Bethnal Green! :ph34r:

Ah well, as tonification was saying you're obviously looking for something a bit special.

So until you're earning above the average London wage, this will have to do.

Notting Hill?

Yes, I know its a flat but there's a second bedroom in the attic you know!

Some people don't know how lucky they are!

Edited by underpressuretobuy

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looks good... apart from the fact that it's in Bethnal Green! :ph34r:

hoy! That'd do for me... mind you, £100k? In 3 years, maybe. What hope do us normal folk have?

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
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      • up 5%



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