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jellyhead

"would Suit First Time Buyer..."

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£249 000 - NW6, 2 bed flat. The property would suit a first-time buyer..

AAAAAArrrrrrgggggggghhhhhhhhhh!

As if being priced out of the market isn't enough, whenever you do have a quick look to see what prices are doing you get that phrase jumping out of the page and rubbing your nose it in. WHICH FIRST TIME BUYERS HAVE QUARTER OF A MILLION TO SPEND!

How long can prices for 1 and 2 bed flats in London stay at these inflated prices? Yes, London prices may well be going up because people with more money then sense are arguing over £10 million pound properties at the top of the market but surely, surely, this over inflation at the bottom end of the market is not sustainable!? Are people actually spending £245 000 on a 1 bed flat, because for the past few years the prices in my area (NW6) have stayed pretty much the same? I don't understand!

Sunday evening challenge - what is the highest priced property anyone can find with the words "would suit first time buyer" in the sales blurb? £249 000 above was from rightmove.co.uk. :blink:

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" 249k, would suit first time buyer"

One that's earing 75k per annum.

Just think,

After all that hard work & studying at Uni & securing one of the best-paying jobs in the country, the creme de la creme top 5% wage bracket, you get to move into an Ex- council flat In Chav towers living nextdoor to crackheads and think to yourself "yep, i made the big time"

Edited by A Fool & His Borrowed Money

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"or for long-term investment"

as in "might see returns after several decades"?

That old chestnut

Prices only go up

I could have bought a house for 4k in 1968 & i could have sold it for 300k now, making me 296k profit!

Houses for 4k in 1968!, by golly, that's cheap!, cheaper than a Car today! I could have bought thousands of houses then!

<Goof>

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OMG. They are not serious? 249K for THAT :lol::lol::lol: I'd give 'em 50K and keep the change.

It does however seem to be within range:

http://www.nethouseprices.com/index.php?co...=DatestringDESC

I know! It's crazy - who is buying these?! We pay quite a lot to rent in NW6 because we want to be close in to the centre of town and yet still near some greenery but at least we have growing savings. My fiance and I could probably just about afford to buy the 1 bed flat that we live in but then we wouldn't be able to save at all and I have a hunch that the flat will have made very little profit by the time we decide it is too small for us (or that London is too polluted and 'escape to the country'!)

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I know! It's crazy - who is buying these?! We pay quite a lot to rent in NW6 because we want to be close in to the centre of town and yet still near some greenery but at least we have growing savings. My fiance and I could probably just about afford to buy the 1 bed flat that we live in but then we wouldn't be able to save at all and I have a hunch that the flat will have made very little profit by the time we decide it is too small for us (or that London is too polluted and 'escape to the country'!)

I am seeing the same old flats and houses unsold (price unchanged) in NW3 (Belsize Park) if it is any consolation. Prices are silly but it does not appear to be changing fast.

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Until credit is tightened the madness will continue. Popular opinion is that houses like this are "worth" 10 times average salary. When that opinion changes the prices will fall.

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" 249k, would suit first time buyer"

One that's earing 75k per annum.

Just think,

After all that hard work & studying at Uni & securing one of the best-paying jobs in the country, the creme de la creme top 5% wage bracket, you get to move into an Ex- council flat In Chav towers living nextdoor to crackheads and think to yourself "yep, i made the big time"

:lol::lol::lol:

You should send that to the EA!

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There are plenty of rich families in Hampstead and surrounding areas who can easily afford to give their kids and grandkids a significant helping leg up onto the property ladder. I'm afraid you can't really compete with them unless you earn megabucks or are willing to borrow way beyond your means.

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After all that hard work & studying at Uni & securing one of the best-paying jobs in the country, the creme de la creme top 5% wage bracket, you get to move into an Ex- council flat In Chav towers living nextdoor to crackheads and think to yourself "yep, i made the big time"

I know where you're coming from, but West Hampstead's not Chav Towers... it's nice and has really good transport links. £250k for a 2 bed is the going rate I'd say.

Anyway. My favourite rightmove ad lately "May not look like much". This may actually be a good deal... but it amused me! :D

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There are plenty of rich families in Hampstead and surrounding areas who can easily afford to give their kids and grandkids a significant helping leg up onto the property ladder. I'm afraid you can't really compete with them unless you earn megabucks or are willing to borrow way beyond your means.

True to a large extent Doogie. This is how NuLabour have achieved the classic divided nation based on HPI. Now that independent FTBs are finished the market must now rely on Parent funded FTBs to keep the market alive. Without FTBs the market will starve to death very quickly. As long as Gordon keeps credit loosened and IR below neutral the madness has awhile left to run.

Another 6 months? Provided the Japs don't move before then that is.

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There are plenty of rich families in Hampstead and surrounding areas who can easily afford to give their kids and grandkids a significant helping leg up onto the property ladder. I'm afraid you can't really compete with them unless you earn megabucks or are willing to borrow way beyond your means.

Sorry, but if you or your family are wealthy would you really choose to live in that!!

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Insanity...............

In the world of the mad, the insane are normal.

£250K for that pile of crap that you wouldn't be happy putting your dog in, excuse me - no disrespect to the people there. But

£250K for unhappiness, what a bargain. I think I may buy it and blowtorch my testicles to cheer myself up, as only a sadist would entertain buying for that.

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I know where you're coming from, but West Hampstead's not Chav Towers... it's nice and has really good transport links. £250k for a 2 bed is the going rate I'd say.

That was pretty much the first 2 bed that I saw in the £200000 to £275000 NW6 rightmove search - I just found it incredible that they could still put 'would suit first time buyer' in the sales blurb!

A decent one bed will set you back £245 000. I'm not sure how much the average two bed in the area is..I lost the will to live at that point :(

Can rich parents really keep the FTB market buoyant indefinitely?

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Just to add my three pennies worth. Although from the picture it does not look much.... the location of the flat is very important when it comes to price. West Hampstead has always been a slightly cool (I hate that word!) place to live. The area is very upbeat, loads of small restaurants, pubs etc. as well as having excellent transport links.

Ten minutes by tube (Jubilee Line) to Central London and the North - South, Gatwick - Luton Thameslink line, as well as the North London Line and several bus routes. Incidentally when the Thameslink line used to terminate at St Pancras it was known as the BedPan line, Bedford to St. Pancras. On top of that, with a clear road, it is only about ten minutes driving time to Brent Cross and also the M1.

I apologise if this all sounds like the usual EA waffle but with property prices as they are at present, I don't think the flat is overpriced.

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Ten minutes by tube (Jubilee Line) to Central London and the North - South, Gatwick - Luton Thameslink line, as well as the North London Line and several bus routes. Incidentally when the Thameslink line used to terminate at St Pancras it was known as the BedPan line, Bedford to St. Pancras. On top of that, with a clear road, it is only about ten minutes driving time to Brent Cross and also the M1.

In London the best locations are determined by the ease and convenience in which you can escape the capital.

"Here is my lovely flat, and just look at the numerous ways in which I can get the hell out of here!"

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£249 000 - NW6, 2 bed flat. The property would suit a first-time buyer..

AAAAAArrrrrrgggggggghhhhhhhhhh!

As if being priced out of the market isn't enough, whenever you do have a quick look to see what prices are doing you get that phrase jumping out of the page and rubbing your nose it in. WHICH FIRST TIME BUYERS HAVE QUARTER OF A MILLION TO SPEND!

Plenty if we are agreed that the "average" FTB is 36, in a couple, and as this flat is in London probably earning above the average salary. :(

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Just think,

After all that hard work & studying at Uni & securing one of the best-paying jobs in the country, the creme de la creme top 5% wage bracket, you get to move into an Ex- council flat In Chav towers living nextdoor to crackheads and think to yourself "yep, i made the big time"

Me thinks your a tad jealous. :lol::lol::lol::D

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Just to add my three pennies worth. Although from the picture it does not look much.... the location of the flat is very important when it comes to price. West Hampstead has always been a slightly cool (I hate that word!) place to live. The area is very upbeat, loads of small restaurants, pubs etc. as well as having excellent transport links.

Ten minutes by tube (Jubilee Line) to Central London and the North - South, Gatwick - Luton Thameslink line, as well as the North London Line and several bus routes. Incidentally when the Thameslink line used to terminate at St Pancras it was known as the BedPan line, Bedford to St. Pancras. On top of that, with a clear road, it is only about ten minutes driving time to Brent Cross and also the M1.

I apologise if this all sounds like the usual EA waffle but with property prices as they are at present, I don't think the flat is overpriced.

Well of course brent cross is a plus :rolleyes:

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In London the best locations are determined by the ease and convenience in which you can escape the capital.

"Here is my lovely flat, and just look at the numerous ways in which I can get the hell out of here!"

:lol::lol::lol: This is SOOO true... which rather suggests an existential quandary...

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Just to add my three pennies worth. Although from the picture it does not look much.... the location of the flat is very important when it comes to price. West Hampstead has always been a slightly cool (I hate that word!) place to live. The area is very upbeat, loads of small restaurants, pubs etc. as well as having excellent transport links.

Ten minutes by tube (Jubilee Line) to Central London and the North - South, Gatwick - Luton Thameslink line, as well as the North London Line and several bus routes. Incidentally when the Thameslink line used to terminate at St Pancras it was known as the BedPan line, Bedford to St. Pancras. On top of that, with a clear road, it is only about ten minutes driving time to Brent Cross and also the M1.

I apologise if this all sounds like the usual EA waffle but with property prices as they are at present, I don't think the flat is overpriced.

True, but do remember that West Hampstead is not Hampstead, in fact you could just as easily call it East Kilburn. That doesn't sound so nice now does it :D Plus the area directly by the station looks grotty to me. Agree the transport links are ace, but no way would I put it in the same league as Swiss Cottage/St Johns Wood or Hampstead itself.

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Guest Winners and Losers

True. I had friends who bought in West Hampstead, but it was really Kilburn. The other day I saw 'Streatham Hill' called 'Clapham Park'. I don't think so. Smacks of desperation to me.

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  • 302 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
      • up 2.5%
      • up 5%



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