5 worst places to live 4 in london

[Francko]

If interest rates go up the non-established people who are borrowing 5 times their salary to buy a tulipehole in the East End will suffer more. Prime property in good areas is bought by people who are relatively unaffected by the interest rate. They buy with inheritances and city bonuses and anyway earn more.

It would be interesting to see where you base your facts. The ones who buy in East London and the ones who buy in Richmond are both taking 5 times their salary in order to buy (of course, excluding inheritances or CEO bonuses which are an insignificant minority). Moreover, recessions those days are different than the ones in the past where a large number of unskilled workers lost their job. Nowadays, if a recession comes the ones at major risk are us, city professionals, the ones who aim at those wealthy properties and therefore, the one more at risk. The eastlondoner with a 25k job will still have his job and be able to pay is 30 years mortgage. Whether you are paying all cash or taking a mortgage is not that relevant. What you seem to neglect is that you are betting 4-500K (which obviously is all you have got so you should be a little careful I think) that in a few years might be worth 3-400. Then, of course, there are other considerations to be made (like how much you like to live in the area, benefits from living there and so on), of course, but the risk is still there, and you can't deny it.

2 golden rules of property buying in London:

1. Location, location, location
2. Buy the worst property in the best area, not the best property in the worst area (obviously this does not apply when you are starting out and have to speculate).

The first means nothing. The second means that you can reduce the risk a little buy taking the properties on the lower edge (but it can be applied to any type of property and area).

[Hart-floot]

I live in Tower Hamlets. In general it deserves it's rating. Large parts of it consist of really depressing council housing. But, as they said, it is a place of extremes. Where I live, in Wapping, there are many multi-million pound warehouse conversion flats with views of the river and Tower Bridge. This was the original yuppie location in the eighties, and parts of the area are still frequently used as a scenic backdrop by film-makers.

way out of hearing as well as out of site of them for large portions of the day.)

So where do you come from mainframe?

I think if that if you ever have kids you won't stay long in Tower Hamlets! Or Newham and Hackney.

I've lived in all 3 borough's. Tower Hamlets & Hackney have good bits, never found anywhere in Newham that you could call pleasant though. That side of London is fast polarising and becomming a ghetto, along the lines of the Paris suburbs etc , the Olympics wont change anything.

[sasguru]

It would be interesting to see where you base your facts. The ones who buy in East London and the ones who buy in Richmond are both taking 5 times their salary in order to buy (of course, excluding inheritances or CEO bonuses which are an insignificant minority). Moreover, recessions those days are different than the ones in the past where a large number of unskilled workers lost their job. Nowadays, if a recession comes the ones at major risk are us, city professionals, the ones who aim at those wealthy properties and therefore, the one more at risk. The eastlondoner with a 25k job will still have his job and be able to pay is 30 years mortgage. Whether you are paying all cash or taking a mortgage is not that relevant. What you seem to neglect is that you are betting 4-500K (which obviously is all you have got so you should be a little careful I think) that in a few years might be worth 3-400. Then, of course, there are other considerations to be made (like how much you like to live in the area, benefits from living there and so on), of course, but the risk is still there, and you can't deny it.



The first means nothing. The second means that you can reduce the risk a little buy taking the properties on the lower edge (but it can be applied to any type of property and area).

Francko, you are a plonker. No offence.

I'm not betting my £500k at all. I'm hardly likely to lose it over the next 25 years am I, even if there is a downturn? The place I'm buying is an end of terrace with large enough rooms (previously owned by an architect) and has a converted basement and loft (Cottage is probably the wrong description). I could also probably get planning permission for an extension.
I think it's more likely that by the time I'm done with it after 15-20 years it'll be worth closer to a million.

Meanwhile the money I save on not having a mortgage will be invested wisely in non-property. Sorted.

[BoredBloke]

"nice quiet road though and close to the river"

And getting closer by the day as global warming kicks in - that is why I live on the top of a hill

Good effort on the move though. On the few times I have been there I thought it was pretty nice.

[Francko]

Francko, you are a plonker. No offence.

AssGuru, you are clearly affected by encelephatis. And I can see it's not your fault if your brain goes easily overflow.

I'm not betting my £500k at all. I'm hardly likely to lose it over the next 25 years am I, even if there is a downturn?

Yes, you can. You lose even over the next 25 years.

I think it's more likely that by the time I'm done with it after 15-20 years it'll be worth closer to a million.
Meanwhile the money I save on not having a mortgage will be invested wisely in non-property. Sorted.

It can be, of course. But you are clearly overstepping the first rule of thumb that any investor should follow. Spreading your investments to dilute the risk. Now, perhaps you'll be lucky and in 3 or 25 years your house is worth 3 millions. Perhaps, you'll be fired next year and have to go to work for McDonalds for 5 quid an hour and have to sell your house at half of what you paid for it because of the crash. Anything can be, and it might not be your fault (just as everything you have done so far is certainly not your credit, your scarce capacity of exposing your arguments is a clear proof) but just bad luck. One thing we are discussing: you are putting all your pot in one bet and that's what every investor with a little bit of salt would tell you. It's the most risky thing you can do. Now, **** 0ff and do what you want, I can't care less.

[sasguru]

AssGuru, you are clearly affected by encelephatis. And I can see it's not your fault if your brain goes easily overflow.



Yes, you can. You lose even over the next 25 years.



It can be, of course. But you are clearly overstepping the first rule of thumb that any investor should follow. Spreading your investments to dilute the risk. Now, perhaps you'll be lucky and in 3 or 25 years your house is worth 3 millions. Perhaps, you'll be fired next year and have to go to work for McDonalds for 5 quid an hour and have to sell your house at half of what you paid for it because of the crash. Anything can be, and it might not be your fault (just as everything you have done so far is certainly not your credit, your scarce capacity of exposing your arguments is a clear proof) but just bad luck. One thing we are discussing: you are putting all your pot in one bet and that's what every investor with a little bit of salt would tell you. It's the most risky thing you can do. Now, **** 0ff and do what you want, I can't care less.

He he. And do enjoy your over-leveraged ex-council flat in the East End, won't you?
Meanwhile I'll be diversifying into other financial instruments while enjoying my mortgage-free house in a nice part of London.

[hyperD]

I used to go out in Richmond alot about 10 years ago - great place, top evening food and drink. Doesn't Mick Jagger have a place there?

Now it's full of feral kids puking on alcopops now.

Marlow, Bucks was another lovely place with real charm, rustic pubs with open fires.

Now it's full of feral kids puking on alcopops now. And the only open fires are the ones started in car parks and bins by the aforementioned scrotes.

I'm beginning to see a pattern here...

[sasguru]

I used to go out in Richmond alot about 10 years ago - great place, top evening food and drink. Doesn't Mick Jagger have a place there?

Now it's full of feral kids puking on alcopops now.

Marlow, Bucks was another lovely place with real charm, rustic pubs with open fires.

Now it's full of feral kids puking on alcopops now. And the only open fires are the ones started in car parks and bins by the aforementioned scrotes.

I'm beginning to see a pattern here...

Well the feral chavs are everywhere. In the nice places they just puke rather than stab.

[gingerjedi]

It will all be worthless when a dirty bomb goes off

[sasguru]

It will all be worthless when a dirty bomb goes off

Possibility. Wonder if the fall-out will reach the outer parts?