The price of London property continues to astound me but it is easy enough to see that the strength of the market is based on a simple case of supply and demand.
Demand for London property is sky high for many reasons. Jobs are easier to come by in London, once ordinary Londoners see a buy-to-let property as the new pension, foreign investors park their money in prime central property to ensure its safety and thousands of people act on their dream of living in the big smoke every year.
I wouldn’t swap London life for anything, but it never fails to surprise just how much you can get for your money elsewhere in England. Especially in the North… And on that note, this Buzzfeed post, House Prices In The North Vs. House Prices In London, makes me cry a little inside.
I’m a naive Londoner in many respects and have seen surprisingly little of England. Although I can’t imagine living anywhere else, if family and work didn’t keep me here I would now consider living elsewhere in England. Each region has its own culture and places of wonder, and with property prices cheap in comparison to London it’s easy to envision a better life elsewhere.
Do you live outside of London? If you could sum up your town to someone who has never heard of it in one sentence, what would you say? I’ll include all suggestions in my next blog.
I was taking a stroll through Hampstead recently when I came across this street sign for Frognal Way, one of the most expensive streets in the UK. I’d never noticed ‘unadopted’ text on a sign before and I was rather intrigued.
Apparently an unadopted street is a street that is not maintained by the local Highway Authority at public expense. This official description is taken from the new snazzy gov.uk website:
‘Unadopted’ roads are those roads not maintained by a highway authority as defined by Highways Act 1980. The description of such roads covers a wide range of circumstances.
For most unadopted residential roads the duty to maintain it falls to the frontagers, ie the owners of the property fronting that road, which may include those where the side, or length, of their property fronts the unadopted road. Those buying property on an unadopted street should be made aware of the situation regarding their property and their related liability for the road. Under Highways Act 1980, local highway authorities may adopt streets that they are not currently responsible for maintaining, but this is purely a matter for local decision.
Mystery solved, although I’d love to hear from someone who lives on an unadopted road about their responsibilities for it.
I took a trip just outside of London this weekend to visit a friend in Eton. If you’ve never been catch a train from Paddington to Slough (15 minutes) and then get a kind friend to pick you up bus into Windsor. In Windsor marvel at the castle, maybe take a look inside and if you are brave enough attempt the Long Walk up to the King George III statue.
Then get yourself to Eton for old bookshops, beautiful architecture and the image of a young Boris and call me Dave wandering the streets in their youth.
Back to reality and there is a lot happening in London over the next few weeks. Here are a few tips, statistics and links that you might like to read:
Open House London have announced the properties opening their doors this September. Most events are free and first come first served, but for access to the Shard and a few other sites you need to register your interest online.
The average price of a property in London is now £318,214 (Nationwide House Price Index, via the Guardian)
Have you heard of the Scottish Widows? If you are UK based you have probably seen her figure grace your screen at some stage or another.
I was at a conference yesterday and one of the speakers is a former Scottish Widows employee. He spoke about the importance of market research, and used Scottish Widows as one of his examples. He also let something rather interesting slip…
Although the Scottish Widow changes from time to time, certain things about the new ‘Widow’ always remain the same.
The Scottish Widow is ALWAYS 5’11”, ALWAYS has size 7 feet and ALWAYS has a 34C bra size.
I have written a bit about property in London before. You can’t really escape the effect it has on the capital – with recent research showing that the average monthly rent across the UK rose for the third year running, you can be certain that London is leading the trend.
According to Endsleigh Insurance, the ‘figures indicate that despite the challenging economic times, the lettings market has remained buoyant’. This is particularly true in London, where demand for rental properties grows as jobs and the London lifestyle continue to bring people to the city. I could bore you all day with the latest property data, but instead I want to take a look at the lighter side of London property!
You may have noticed a new feature on this blog – a weekly (amateur) photo of a place in London that I would rather like to live. I thought it might be nice to hear where you would most like to live in London, so how about a little competition to get you talking?
Please leave a comment below stating where in the capital you would most like to live – and if you can give a reason, all the better. I will collate the comments and we can see where most people would like to call home.
I will pick a winner at random who will win £200 worth of vouchers that you can spend on hotels, theatre tickets or in restaurants – and if you want any suggestions on how to spend them, I’m sure I can help!