Wage needed for a flat by Tube stop

Discussion in 'UK politics, current affairs and news' started by joustmaster, Aug 14, 2019 at 6:04 AM.

  1. joustmaster

    joustmaster offcumdun

    Oooh cool tube map
    With depressing prices.

    bb8edcd.jpg
     
  2. joustmaster

    joustmaster offcumdun

    salary for a one bed flat...
     
    Ted Striker likes this.
  3. farmerbarleymow

    farmerbarleymow Seagull + Chips = Happy Seagull

    That's obscene.
     
    friedaweed likes this.
  4. joustmaster

    joustmaster offcumdun

    It's a bit keen
     
  5. Epona

    Epona Down with battered parsnips

    I looked up what 2 bed flats in my street are in terms of renting (private rental), and it is more than most people earn, and I am in Canning Town/Plaistow area so one of the poorer boroughs. That map has Canning Town at requiring an income of £73k+ to buy here - that is just insane. What it takes to buy somewhere now is teeth-grindingly frightening, I am not sure how anyone buys their first place now (I think a lot of people don't). I am lucky, I first bought property in the early '90s when prices were low, it was easy to get a mortgage, and if you hadn't saved up the £3k required for a deposit then you could get a bank loan for it as long as you were happy you would be able to pay it off within a couple of years.

    I'm in favour of having good social housing for all rather than private ownership tbh - yes buying when I did and owning property has treated me well, if I need to use that to make my life better or help out with my income then I will, but I don't for a second think it is fair or the way the world ought to work.
     
  6. kabbes

    kabbes "A top 400 poster"

    How is it calculated, do you know? £100k a year will be about £5000 a month after tax — are they assuming max housing cost is 50% of that to get to £2500 a month? A lower ratio? Higher? Or are they assuming a minimum absolute amount needs to be left over?
     
    equationgirl likes this.
  7. Bahnhof Strasse

    Bahnhof Strasse A-wob a-bob bob

    It appears that you have zero or close to zero deposit.

    What is depressing for any lotto hounds out there, fire up Rightmove and see what two million quid gets you in WC2...
     
  8. Spymaster

    Spymaster Cockney Wanker

    I think this is to buy a one bed flat and the income you’d need for a mortgage assuming no or low deposit, no? Multiply those numbers by 5 and that’s more or less what one bedders would cost in those areas.
     
  9. kabbes

    kabbes "A top 400 poster"

    Ah yes, that makes more sense. No sure why I thought it was for renting.

    On the plus side, Epping appears to be free.
     
    Spymaster likes this.
  10. heinous seamus

    heinous seamus til clay-cauld death shall blind my ee

    Is Newbury Park a typo or does it bear an uncanny resemblance to a warzone?
     
  11. Lazy Llama

    Lazy Llama Suburban robots that monitor reality

    Workings:
    Assuming a 10 per cent deposit, a 25-year mortgage, and 40 per cent of earnings going on repayments each month, the credit comparison firm has listed how much it would cost to live in a one-bedroom flat within 1km of each Tube stop.
     
    scifisam likes this.
  12. maomao

    maomao 四月她爹

    Who the fuck would choose to live in Central London after winning the lottery? Short to medium term it's my only chance of getting out of bloody London.
     
  13. maomao

    maomao 四月她爹

    There is a converted office block directly opposite Newbury Park Station full of tiny windowless flats. It's been in the news a couple of times. Probably drops the average quite a bit because while I wouldnt like to live on the A12 itself the side roads round there are quite nice. I think it's my nearest tube (though possibly Dagenham Heathway).
     
    SpookyFrank likes this.
  14. Spymaster

    Spymaster Cockney Wanker

    Central London’s a fabulous place to live for lottery winners who don’t give a toss what things cost. I’ll definitely buy my riverside London apartment before I choose my country pile when I win it.
     
  15. maomao

    maomao 四月她爹

    Enjoy your oligarch neighbours. I'll be quite happy miles from anywhere thanks.
     
  16. Bahnhof Strasse

    Bahnhof Strasse A-wob a-bob bob

    As I currently live somewhere that is a ballache extrodinaire to get to once the last train leaves around midnight, I'd quite like a pied-à-terre in Covent Garden. Sadly, £2m gets you just that, mostly one or two bedroom flats. For TWO MILLION POUNDS!!!
     
  17. Bahnhof Strasse

    Bahnhof Strasse A-wob a-bob bob

    A bender in the woods.
     
  18. maomao

    maomao 四月她爹

    I'll just stay at the Connaught after my two or three nights in town a year.
     
    marty21 likes this.
  19. Epona

    Epona Down with battered parsnips

    Folks - those numbers on the tube map are not what a property costs in those areas, that is the annual income you would need in order to be able to get a mortgage (on average) for a property in that area - I have one of the cheaper flats round here and it is valued at 300k - when it says 73k on the map, that is the annual salary you need to be on to secure financing to get a flat here as a buyer trying to get a 25 year mortgage, not the cost of a property. You would be hard-pressed to get a garage around here for 73k
     
    Last edited: Aug 14, 2019 at 9:22 AM
  20. SpookyFrank

    SpookyFrank If it's alive, don't lick it.

    It is a dump tbf.
     
  21. kabbes

    kabbes "A top 400 poster"

    Whilst this is a useful PSA and all, I don’t think there’s anybody on this thread who didn’t already realise that...
     
  22. SpookyFrank

    SpookyFrank If it's alive, don't lick it.

    My mate does actually live in a van by some allotments in Ealing.
     
  23. kabbes

    kabbes "A top 400 poster"

    Gosh, is that all. Pay the little man, James.
     
  24. scifisam

    scifisam feck! arse! girls! drink!

    Not exactly true. There are quite a few one-bedroom flats for sale well under a million in Bloomsbury, in period buildings and with courtyards and everything. (I know someone who owns one. Bastard). For example: Check out this property for sale on Rightmove!

    The same type of flat goes for about the same where I Iive, and that's fucking bizarre.
     
  25. Epona

    Epona Down with battered parsnips

    Maybe I misunderstood, but I thought there were some posts that thought the numbers on the map was the cost of buying somewhere to live
     
  26. scifisam

    scifisam feck! arse! girls! drink!

    Dude, I don't think anyone here thought these were property prices :D
     
    keybored and Spymaster like this.
  27. Epona

    Epona Down with battered parsnips

    I think I maybe misread stuff then, but even so I am not "dude" ;)
     
    OzT likes this.
  28. Teaboy

    Teaboy It definitely looks brighter over there..

    Yes, for the avoidance of doubt I am happy to confirm a 1 bed flat in Kew does not cost £75k.

    My g/f and I were looking in a local estate agent window the other day and trying to work out why a nice looking 2 bed flat with a garden was only £1000 pcm. Granted it was on a main-ish road and above a shop but 2 beds round here normally start at around £1700 pcm.

    It was only on closer inspection that we realised it wasn't being offered for rent it was for sale and some of the zeros had been hidden by the edge of the frame. £1m for a 2 bed flat above a shop on a main road... We'll get one each shall we?
     
  29. Epona

    Epona Down with battered parsnips

    It's absolutely ridiculous, it would be more of a point of humour if it wasn't affecting peoples lives so much

    A 2 bed terrace around here (E13) is running towards half a million these days, which is insane.
     
    Last edited: Aug 14, 2019 at 9:54 AM
    crossthebreeze likes this.
  30. scifisam

    scifisam feck! arse! girls! drink!

    I know your gender - dude is gender-neutral. :)
     
    Gaia, SpookyFrank and OzT like this.

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