I'm leaving London with my girlfriend in a week, to move to Edinburgh. Been here seven years, both on a good salary, yet we live in an impoverished area and would never be able to afford to buy a decent place to live even where we are now. Edinburgh offers us an objectively better standard of living in every measurable aspect except proximity to Europe. I won't miss London.
'Nobody My Age Can Afford to Stay Here Forever'
11–20 of 117 posts
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#12Reminds me of this article talking about living in Barcelona and commuting to London being cheaper than living in London: https://uk.finance.yahoo.com/news/cheaper-to-live-in-barcelo...
Interestingly I discovered that a former colleague of mine actually does this. He'd considered buying a property in London and managed to find a number of of houses in Murcia (Spain) which cost the same as his deposit in London would have been.
There is a slight twist which enables this international "commute" however. His job has involved being on-site in with a client (in Scotland) for the last while, so even if he lived in London he would've been put up in accomodation anyway. So in reality his Spain->UK\UK->Spain round trip only happens once a week, but technically he's still doing an international commute :)
edit: Tidied up the rambling sentences
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#13This is depressingly true. I just exchanged contracts on a 2 bed flat in zone 4 that will leave me and my gf with a 300k debt. If it wasn't for her stable job in town I would think about going somewhere else. And we know that we will probably never be able to upgrade to a bigger place if prices keep rising at this rate since our income will not increase at the same speed. I wonder if London will become a boring rich…
> 2 bed flat in zone 4 that will leave me and my gf with a 300k debt.
Sounds like you got lucky then.
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#14I'm leaving London with my girlfriend in a week, to move to Edinburgh. Been here seven years, both on a good salary, yet we live in an impoverished area and would never be able to afford to buy a decent place to live even where we are now. Edinburgh offers us an objectively better standard of living in every measurable aspect except proximity to Europe. I won't miss London.
I lived in Edinburgh for eight years, it's a beautiful place and you'll love it there. If you're into beer, check out the Blue Blazer - it was my favourite bar.
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#15I spent my childhood in London, moving overseas after graduation - not financially motivated. With two kids now I often entertain ideas of moving back, primarily because it really is an amazing city and because of the opportunities my children would have.
Unfortunately, even with the handsome salaries senior devs earn I cannot see how I could possibly pay rent and support children.
So I often wonder where all this money is coming from? If a salary many multiples the average would not cover living costs, who is pushing up prices? Who is buying these houses?
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#16Reminds me of this article talking about living in Barcelona and commuting to London being cheaper than living in London: https://uk.finance.yahoo.com/news/cheaper-to-live-in-barcelo...
The cost of living in London is insane and it is a really interesting thought experiment. A lot of my friends are moving out of the city and I can't see myself staying here more than another year or two.
But for some context, West Hampstead is a fairly nice suburb on three different train and tube lines.
The rent for a one-bed flat is high as they are bid up by couples who are both earning. You are at a big disadvantage looking on your own. In my experience there is not much difference between prices for a one or two bed flat.
I think a big problem is the price of national rail transport into London from the commuter belt. It can easily cost £4,000 a year for a season ticket, wiping out most of the saving on rent or mortgage payments compared to living in the city.
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#17This is depressingly true. I just exchanged contracts on a 2 bed flat in zone 4 that will leave me and my gf with a 300k debt. If it wasn't for her stable job in town I would think about going somewhere else. And we know that we will probably never be able to upgrade to a bigger place if prices keep rising at this rate since our income will not increase at the same speed. I wonder if London will become a boring rich…
Sorry, I don't know London, but I'm trying to understand your situation.
You have a mortgage for around 1.5k for the next 25 years, shared between you and your gf for a flat with a spare bedroom close to the centre of London ?
Sounds rather affordable, what am I missing ?
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#18Similar situation in Munich! The only one who can afford to live here - with average salary - is the lucky one whose parents are ready to help with a donation of 200,000€. For the rest they will take a loan at the bank...
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#19Reminds me of this article talking about living in Barcelona and commuting to London being cheaper than living in London: https://uk.finance.yahoo.com/news/cheaper-to-live-in-barcelo...
The cost of living in London is insane and it is a really interesting thought experiment. A lot of my friends are moving out of the city and I can't see myself staying here more than another year or two. But for some context, West Hampstead is a fairly nice suburb on three different train and tube lines. The rent for a one-bed flat is high as they are bid up by couples who are both earning. You are at a big disadvant…
How can rail transport be that expensive? (I'm genuinely asking)
Re: 'Nobody My Age Can Afford to Stay Here Forever'
#20I also left London recently, although I moved due to the weather.
For every 29-year-old graphic designer who moves to Cambridge to buy a family home, there's a 22-year-old who's just started their career who's willing to live in a bedsit in Wood Green (as, coincidentally, I did at 17, trying to break in to the big city).
You're meant to get older, and move out of the city. Circle of (urban) life. Give it 50 years, and Reading will be a suburb of London, rather than just a commuter town, CrossRail will have priced out current residents near the stations, and the city will keep trundling on.
That you see yourself as being one of the "original" residents doesn't give you some inherent right to below-market-prices in property. That the same graphic designers and digital media folk who priced families out of Brick Lane are now feeling the same effects of the gentrification cycle they were part of is not meant to be a surprise.
I hear Peckham is the up-and-coming part of town at the moment, but there's no damn way I'd live there, just like I wouldn't have lived in Brixton or Isle of Dogs 15 years ago. But give it 15 years, and you won't be able to afford in Peckham, either...