3 ms·

This is not accurate. I’m within walking distance of central London, and single rooms here are available for about £100/wk, and if you need a full one-bed flat

This is not accurate. I’m within walking distance of central London, and single rooms here are available for about £100/wk, and if you need a full one-bed flat it’ll be around £200/wk. A one-bed flat can be purchased for about 150k in the same area. Property is substantially cheaper almost anywhere else in the country. In Glasgow, for example, £100/wk would cover the rent on a one-bed flat, and 50k can buy you a two-bed flat. 90% mortgages are available with interest rates under 4%, which is hardly punitive. There are many problems with housing costs in the UK, but we don’t do anybody any favours without being honest about the numbers.

madaxe_again 8y ago
You're within walking distance of the City of London and it's £400 a month? I assume tower hamlets? The cheapest room I can find in a flat share is £550 a month - although for the numbers you mention, you could rent an outdoor parking space. http://www.rightmove.co.uk/property-to-rent/find.html?locationIdentifier=REGION%5E61224&maxBedrooms=0&minBedrooms=0&minPrice=100&radius=1.0&sortType=1 http://www.rightmove.co.uk/property-to-rent/find.html?locati... So yes, there are options that are cheaper than I posited, but it's still hardly the $400 a month for a house you see in the US. To buy, for under £150k, all I can see is garages, boats, and sub-decade leaseholds - you can't live in a garage, a boat costs a fortune to maintain and moor, and a six year lease for £150k is a bum deal in my view, and not really ownership. Would love to be proven wrong. http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION%5E61224&minPrice=50000&radius=1.0&sortType=1&index=24 http://www.rightmove.co.uk/property-for-sale/find.html?locat...