Just how much is a house in London?

[almostwitty]

I realise that alongside transport discussion, talking about house prices in London is one of the dreariest middle-class things one could possibly do in London, but since we’re looking for some kind of dwelling that has more than one bedroom to accomodate a screaming child, I’ve been taking more than a mild interest in property prices.

So when I noticed a “For Sale” sign besides a derelict building on the same main road as work, it perked my interest. Sure, the house was huge but on the minus side, it was on a busy road opposite a shopping centre and car park, in a fairly dodgy area of West London and in an era of falling house prices. It can’t be that expensive, surely?

Nope. To buy a derelict house that requires extensive renovation, on a busy but dodgy and certainly unglamorous part of West London, would set you back the not-inconsiderable price of £785,000. Sheesh.

So the long search for a 2-bedroom flat in an area with a nice school within an hours’ commute of Shepherds Bush continues…

Mirrored from almost witty.

Comments

[matgb]

Yeah. I did some digging on a related subject that I never got around to writing up.

You know that "Cabinet of Millionaires" meme that's going around that says the cabinet can't relate to us because they're all rich?

Well, in all but 5(ish) cases, the millionaire status comes entirely from owning a house in London, mostly one they've owned for several years. Ignoring asset wealth of an over inflated property, most of the cabinet are just moderately wealthy, in the way I'd hope I'd be with 20+ years success in a profession behind me.

I' so glad I'm out of London, we pay the same rent on a two bedroom house here that I was spending on a box room in a shared house just outside Wimbledon.