"Young professionals" to infest flats above Iceland

[fanta]

I'm not sure what an "ordinary person" is, but I certainly can't afford one (so maybe I'm abnormal?!).

But I don't go along with the notion that anyone who can afford to buy one (and remember, that could be a couple on just £44,000 per annum) is automatically a 'yuppie'.

Do you?

Oh come on, I don't think most local people will even get a sniff...yeah and just because some can doesn't mean they're 'yups'...but it is more likely - IMO - that'll it'll not be locals buying 'em.

 

[Pickman's model]

I'm not sure what an "ordinary person" is, but I certainly can't afford one (so maybe I'm abnormal?!).

But I don't go along with the notion that anyone who can afford to buy one (and remember, that could be a couple on just £44,000 per annum) is automatically a 'yuppie'.

Do you?

yuppie - young upwardly mobile professional.

they might be on £22k now, or maybe even less, but the 'upwardly mobile' bit means that they don't intend to stop on that for long.

 

[editor]

Bet you could afford one Ed, huh?

I'd wager you're earning more than me, chum!

 

[editor]

A couple on this magic figure you keep quoting £44,000....they could get a mortgage of £132,000. Unless they did a self-assessed income thing and lied, then they'd be forking out over £1100 a month on the repayments.

Read my link and take it up with the Nationwide and the Mortgage Intelligence people.

 

[noodles]

Do you think that most ordinary people are going to be able to afford one of them?

Out of curiosity, your definition of an 'ordinary' person is what exactly?

 

[fanta]

I'd wager you're earning more than me, chum!

The you must be struggling!

 

[editor]

they might be on £22k now, or maybe even less, but the 'upwardly mobile' bit means that they don't intend to stop on that for long.

So how would "Old Slapper" know their earning projections and be privy to their long term living arrangements?

 

[editor]

The you must be struggling!

Tax to be paid for last year's 'earnings' = 0p

 

[noodles]

A couple on this magic figure you keep quoting £44,000....they could get a mortgage of £132,000. Unless they did a self-assessed income thing and lied, then they'd be forking out over £1100 a month on the repayments.

Nice maths... unfortunately also completely ignores the fact that some people (shock horror, I know) may have some equity already... damn yuppies etc etc

 

[Pickman's model]

So how would "Old Slapper" know their earning projections and be privy to their long term living arrangements?

ask os.

 

[ernestolynch]

Read my link and take it up with the Nationwide and the Mortgage Intelligence people.

Rolleyes indeed. I challenge anyone to fill in a 'how much can I borrow?' online quote on any mortgage company - including Nationwide (who have the highest multiples of the major lenders) and get a £180,000 loan for a couple on £44k.

 

[ernestolynch]

Nice maths... unfortunately also completely ignores the fact that some people (shock horror, I know) may have some equity already... damn yuppies etc etc

Why would anyone with equity be trading down to live in a pokey flat above Iceland in Brixton?

Rolleyes indeed.

 

[editor]

Why would anyone with equity be trading down to live in a pokey flat above Iceland in Brixton?

I thought they were yuppie flats?!!!!

 

[IntoStella]

Ah. So it's a random figure you've made up!

But hey! Don't let that stop you pre-accusing buyers of being yuppies, eh?!

Made up eh? Let's look at the prices of some other Victorian/Edwardian properties in central Brixton. That should give us a pretty accurate and non made up idea, shouldn't it?

Dover Mansions

Availability: Available Now
*Location: Canterbury Crescent, Brixton, SW9.
*Bedrooms: Two
*Price: £280,000-£289,000
*Tenure: Leasehold

Details: We are the SOLE SELLING AGENTS for this fantastic development of which phase one is nearing completion. Dover Manions is a Victorian Mansion building, complete with a coveted blue plaque, which has had a varied and lively past....

It has also been documented countless times that property prices in Rushcroft Road start at £250,000.


Not everyone is in a couple. Not everyone who is in a couple wants to enter into a mortgage with their partner. I have always thought getting married was far less of a commitment than getting a mortagage with someone. Not everyone wants to mortgage themselves to the hilt. Moreover, not all couples consist of two reasonably high earners.

 

[noodles]

Why would anyone with equity be trading down to live in a pokey flat above Iceland in Brixton?

Rolleyes indeed.

Er, perhaps someone new to London? Is it that far-fetched? Or do only Londoners buy flats in London?

Yep, I think another is called for

 

[Donna Ferentes]

If we go along with his makey uppey figure of £180,000

You consider that an unreasonable estimate for a development of that type in an area of that type? I thought it an exceedingly conservative estimate.

 

[Donna Ferentes]

I thought they were yuppie flats?!!!!

Pokey = small.

Unlike the hole which you are digging.

 

[fanta]

It has also been documented countless times that property prices in Rushcroft Road start at £250,000.

Fuck sake!

 

[editor]

Pokey = small.

Unlike the hole which you are digging.

Ah. So you've seen the detailed plans for the flat conversion then?!

Could you post up some of the plans please so I can see just how "pokey" they are?

 

[Mr Retro]

It would be a great place to live though.

You could shout your order for fresh veg down to the guys on the market and pull them up a bucket or something.

 

[editor]

Made up eh? Let's look at the prices of some other Victorian/Edwardian properties in central Brixton. That should give us a pretty accurate and non made up idea, shouldn't it?

Dover Mansions

Err. But that's for two bedroom flats. Oh well.

But just to get this straight: is anyone who buys a flat in Brixton a yuppie in your eyes?

 

[IntoStella]

Fuck sake!

Indeed. I really can't see these Iceland jobbies going for anything under 275,000. And I'm not making that up.

 

[fanta]

But just to get this straight: is anyone who buys a flat in Brixton a yuppie too?

I don't think so, if I had the money then I would and I'm more of a slob than a yuppie. But I still think it is beyond what most locals can afford.

 

[ernestolynch]

Er, perhaps someone new to London? Is it that far-fetched? Or do only Londoners buy flats in London?

Yep, I think another is called for

You're making it up.

 

[IntoStella]

It would be a great place to live though.

You could shout your order for fresh veg down to the guys on the market and pull them up a bucket or something.

Yeah. We can dream, can't we?

I know! We could have a u75 timeshare. One week a year between 52 of us. Baggsy Christmas.

 

[Donna Ferentes]

Ah. So you've seen the detailed plans for the flat conversion then?!

Could you post up some of the plans please so I can see just how "pokey" they are?

I think it a reasonable assumption from our experience of these developments. I have seen the plans for the developments of similar description about to go up behind my current gaff: they're scarcely big enough for a cat to swing a mouse.

But I stand to be corrected by future revelations, unlikely though that be. Could be that it's like a Tardis above Iceland and they're going to be enormous. However. Let us suppose they are not as small as I imagine. Well, £180,000 is consistent with the description pokey. If, of course, they are not small, then the price will be substantially greater. You can have it either way - they might be cheaper (though I doubt it) and they might be larger (though I doubt it) but not, I think, both ways at once.

 

[Mr Retro]

I reckon those flats will be at least 225,000 for a one bedroom. Thats including a deduction for the stink of piss that will waft in from that much pissed on portion of street.

 

[Donna Ferentes]

It being those of us who cannot afford even to rent a one-bedroom flat who are of course, being pissed on the most.

Still, though, no hard feelings about the housing market eh?

 

[ernestolynch]

If flats in converted office blocks in the mean streets of bloomin Norbury are going for £180,000 - you could add another £50k to the price for yupsville Brixton.

 

[Donna Ferentes]

£150,000 in Walthamstow the other week. One bedroom flat. Zone three.