RonJeremy Posted June 16, 2015 Share Posted June 16, 2015 I visited a friend in Paris a few years ago - this flat looks a bit like the one he was renting. Shockingly bad, but he was happy paying what he did to be in one of the world's greatest cities in the right part of town. I didn't really understand how he could live like that but he did and he's a very successful lawyer now. A few years' hardship appears to have paid off. Link to comment Share on other sites More sharing options...
Cyclone Posted June 16, 2015 Share Posted June 16, 2015 Are your eyes broken? It does mention that it's in Notting Hill!! That's besides the point. It could be under the Queen's bleeding stairs for all I care. Look at it!! It's a prime example of how stupidly over priced London is becoming. I'm sick of people who are happy to sit back and let this continue! It's appalling. I assume you've sat forward and done something to stop it continuing then? ---------- Post added 16-06-2015 at 10:07 ---------- The room is seriously rank, imagine home much a nice one would cost! One thing worth considering is that the OP assumes that the landlord is raking in the cash, but has he considered that the price that the landlord is charging might be in line with his costs? The main cost being mortgage of course, so it's entirely dependant on how long the landlord has owned it. If he's had it 30 years, then yes, he's making a huge profit. But why shouldn't he? If he sold it, he'd probably get 500k for it, and someone else would let it for the same rate and just cover their new mortgage on it. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted June 16, 2015 Share Posted June 16, 2015 The main cost being mortgage of course, so it's entirely dependant on how long the landlord has owned it. If he's had it 30 years, then yes, he's making a huge profit. But why shouldn't he? If he sold it, he'd probably get 500k for it, and someone else would let it for the same rate and just cover their new mortgage on it. I'd speculate that the lack of decoration and the run down furniture suggests that the landlord doesn't have much spare cash. It would cost much to smarten the room up, and get some cheep Ikea furniture. Link to comment Share on other sites More sharing options...
Obelix Posted June 16, 2015 Share Posted June 16, 2015 Twenty years ago as an impecunious student in Sheffield I was renting a single bedsit room with shared facilities in the centre for £400pcm. Add on inflation and You will get about the same price as that place in Notting Hill.... now Sheffield is not as salubrious as London so based on Sheffield prices - which no one moans about so I presume they were fine... that place is really rather cheap... Link to comment Share on other sites More sharing options...
davyboy Posted June 16, 2015 Share Posted June 16, 2015 Whilst on the cost of housing. I'm researching my family tree and I've just found an ancestor who lived in Mile End in the East end of London in the late 1880s. He and those around the area were all working class. Up until 30 odd years ago it was a pretty rundown area but then the yuppies moved in. The price of his rented 3 storey victorian house has risen to £875,000!!!!! Link to comment Share on other sites More sharing options...
Cyclone Posted June 16, 2015 Share Posted June 16, 2015 Twenty years ago as an impecunious student in Sheffield I was renting a single bedsit room with shared facilities in the centre for £400pcm. Add on inflation and You will get about the same price as that place in Notting Hill.... now Sheffield is not as salubrious as London so based on Sheffield prices - which no one moans about so I presume they were fine... that place is really rather cheap... Or you were massively overpaying 20 years ago... You can find a shared flat for less than that today in the city centre area. http://www.rightmove.co.uk/property-to-rent/property-33623135.html Or none shared, 1 bed flat for a little more; http://www.rightmove.co.uk/property-to-rent/property-4599196.html Link to comment Share on other sites More sharing options...
francypants Posted June 16, 2015 Share Posted June 16, 2015 Or you were massively overpaying 20 years ago... You can find a shared flat for less than that today in the city centre area. http://www.rightmove.co.uk/property-to-rent/property-33623135.html Or none shared, 1 bed flat for a little more; http://www.rightmove.co.uk/property-to-rent/property-4599196.html To be fair, 20 years ago there weren't as many flats available in the city centre as there are now, so the rent would be higher. Link to comment Share on other sites More sharing options...
tinfoilhat Posted June 16, 2015 Share Posted June 16, 2015 I had the misfortune of watching locationx3 the other day. Two sets of young professionals queing up to throw anything from £350k - £400k plus for a two bed flat or house in East London. Different world. Link to comment Share on other sites More sharing options...
Obelix Posted June 16, 2015 Share Posted June 16, 2015 Or you were massively overpaying 20 years ago... You can find a shared flat for less than that today in the city centre area. http://www.rightmove.co.uk/property-to-rent/property-33623135.html Or none shared, 1 bed flat for a little more; http://www.rightmove.co.uk/property-to-rent/property-4599196.html Theyve built a lot more flats in the intervening years though so the prices fell. The price I was paying wasn't unreasonable although it would be now of course. Link to comment Share on other sites More sharing options...
Cyclone Posted June 16, 2015 Share Posted June 16, 2015 Fair enough, but doesn't that make any direct comparison with London pretty pointless? London has always had a lot more flats than Sheffield, but also a lot higher demand. ---------- Post added 16-06-2015 at 11:25 ---------- It looks like the one in the OP might be overpriced anyway, unless Notting Hill has a wide variation of price based on specific area within it. http://www.rightmove.co.uk/property-to-rent/property-34969824.html - Studio flat, £600 pcm. There are plenty of bedsits, shared houses and so on available in NH from £650/month. It's a high price, but if you want to live in a trendy area in zone 1 then you have to pay for it. Nobody is forced to live there. Link to comment Share on other sites More sharing options...
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