Originally Posted by nibiyabi
I don't think you pay 10 times as much for property.
Otherwise virtually nobody would own a house in all of the UK. A house is for sale in my parents' middle-class neighborhood. It was built in the early 70s, has fuses instead of circuit breakers, no fiber-optic, and a bit of wear and tear (nothing that compromises the structural integrity of the place, though). 2500 square feet and it's about a 1/4 acre lot. $1.5 million. I really doubt that place would cost £7.5 million in the UK.
we saw a 3 bedroom house
not flat house for the equivalent of £32,850, i can't remember where it was. remember 3 bedroom!
we sold our 1 1/2 bedroom flat in Essex for £126,000, that's half as many bedrooms. my friend has a 2 bedroom flat, near Richmond, London and it's worth over £400,000 ($800,000), for a 2 bedroom flat
not house, flat.
one of my fathers clients brought a 4 bedroom house in Purley for £450,000 ($9000,000) two years later he sold it for £650,000 ($1,300,000) and that's for a 4 bedroom house, no more than 10-15 miles from the centre of London.
so yes we do pay a lot more for property.
houses have become so expensive that my wife and i had to move north. we're buying a house, get this, 5 bedroom, 2 basements for £130,000. £130,000, we sold our flat in essex (25 mile north of London) for £126,000 and that had 1 1/2 bedrooms. however there is a trade off. where we are moving, it's the lowest 2% income earners in the country....i.e. there's no work or money their, and you can tell. Hence 5 bedroom house for the same price as our flat in Essex.
now, on to headphones.........