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More typically you will be commuting from further out Zones 1 and 2 properties are SV levels of expensive - your looking at £4k to 5k year for a season ticket

More typically you will be commuting from further out Zones 1 and 2 properties are SV levels of expensive - your looking at £4k to 5k year for a season ticket from an affordable area.

leoedin 7y ago
There's plenty of affordable areas in zone 2 and 3 which have average rents considerably less than SV (a 1 bed flat might be £1100-£1400/month). Annual travel within zone 3 is £1648. It's really not comparable, especially since the pound dropped 20% after the Brexit referendum.
- C1sc0cat 7y ago
  I would imagine the original commenter moving from NYC to London isn't going to be interested in renting some tiny one bed studio flat and living on ramen. I was talking about buying - why throw rent money away.
  - ukoki 7y ago
    > I was talking about buying - why throw rent money away. London has some of the lowest rental yields in the UK, especially as you move towards the higher end of the market. Renting is merely "very expensive", compared to buying which is "very, very expensive".
    - C1sc0cat 7y ago
      Bad use of money, certainly in the UK mortgages are cheaper per month than renting and that's not counting the value of the asset..
      - ukoki 7y ago
        > UK mortgages are cheaper per month than renting That's definitely the case outside of London where rental yields are higher but London rental yields are averaging 3-4% [1] (lower as you go up the ladder). Mortgage rates are currently a bit cheaper (1.5-3%) but owning a home also incurs additional costs such as stamp duty, repairs and (sometimes) ground-rents. 1. https://www.knightfrank.co.uk/research/uk-residential-investment-yield-guide-january-2019-6071.aspx https://www.knightfrank.co.uk/research/uk-residential-invest...
dastx 7y ago
Disagree, you can find plenty of places in zone 2 that are fairly affordable, especially for software engineers. If you're willing to share with strangers (as is so often the case these days), it's even cheaper. Bear in mind that when you go further out, what you're saving in housing, likely just moves to a season ticket so the savings are much less, but you add additional time to your commute.

More typically you will be commuting from further out Zones 1 and 2 properties are SV levels of expensive - your looking at £4k to 5k year for a season ticket from an affordable area.

leoedin 7y ago

There's plenty of affordable areas in zone 2 and 3 which have average rents considerably less than SV (a 1 bed flat might be £1100-£1400/month). Annual travel within zone 3 is £1648. It's really not comparable, especially since the pound dropped 20% after the Brexit referendum.

C1sc0cat 7y ago
I would imagine the original commenter moving from NYC to London isn't going to be interested in renting some tiny one bed studio flat and living on ramen. I was talking about buying - why throw rent money away.
- ukoki 7y ago
  > I was talking about buying - why throw rent money away. London has some of the lowest rental yields in the UK, especially as you move towards the higher end of the market. Renting is merely "very expensive", compared to buying which is "very, very expensive".
  - C1sc0cat 7y ago
    Bad use of money, certainly in the UK mortgages are cheaper per month than renting and that's not counting the value of the asset..
    - ukoki 7y ago
      > UK mortgages are cheaper per month than renting That's definitely the case outside of London where rental yields are higher but London rental yields are averaging 3-4% [1] (lower as you go up the ladder). Mortgage rates are currently a bit cheaper (1.5-3%) but owning a home also incurs additional costs such as stamp duty, repairs and (sometimes) ground-rents. 1. https://www.knightfrank.co.uk/research/uk-residential-investment-yield-guide-january-2019-6071.aspx https://www.knightfrank.co.uk/research/uk-residential-invest...

dastx 7y ago

Disagree, you can find plenty of places in zone 2 that are fairly affordable, especially for software engineers. If you're willing to share with strangers (as is so often the case these days), it's even cheaper. Bear in mind that when you go further out, what you're saving in housing, likely just moves to a season ticket so the savings are much less, but you add additional time to your commute.