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Let your next career move come to you.

How much has your house in London appreciated over the last 5 years?

Side note: buy to lets are profitable - but you need 25% depos, which most Londoners can't afford. In Dubai, why yes. Yes, I can.

I own a very large % of people's incomes, a % of what they do and thus to an extent they work for me. They pay me to put a roof over their heads; I do think primae noctis should be brought back.

This is a really important q, probably the most important. You can't expat unless you own your own property in London and have got the buy to let ready otherwise you're losing out on house inflation.

On the above point we made an epic mistake not buying our rented flat that the landlord offered to sell to us for 275k in Balham in 2012 before we fooked off overseas for 4 years. We thought nah, we don’t know how long we’ll go for, be a hassle, didn’t really have much cash but could have wangled it together. Came back in 2016 and would have got no change from about 500k for basically the same thing. Must have been the biggest 4 years of house inflation leading up to Brexit.  FOOLs. 

So you bought at a particular price, have seen values gone down a little since then and think you didn't buy at a peak. 

Have you considered being tested for mental retardation?

The years 2000-2009 in retrospect appear to have been the last train for London mad house price increase. 

Though tbf if you only own one property it doesn't really matter. I suppose ownership protects from rent increases, but you won't get rich from it unless you're moving somewhere... 

"So you bought at a particular price, have seen values gone down a little since then and think you didn't buy at a peak. 

Have you considered being tested for mental retardation?"

Heh, you may want to re-read what I wrote, and then take some of your own advice old chap. Early onset of dementia? 

I cant remember if I posted this already, but although I go on about Dubai at any PQE, I think you should have a property in London before you go. Technically you'll need to change the mortgage to buy to let and let HMRC know, er yeah technically, but generally more expensive mortgage if getting offshore, and the more expensive the property the better the return

High-quality English properties only rise in value. You buy Clifton. You buy detached outside London near good schools and translate and countryside. You buy zone 2 conservation areas. You sit back gidge-free. You know the drill. 

Get more for your money outside London. It's no way to live to have a London mortgage.There are far better ambitions in life than to save for a deposit for a house in London. 

Apart from a few Roffers in MC firms, who can afford a house in London? Presumably Z 1,2 or in SW 15, 19, or 20. Othwerwise fuggadbaadit. The bay-windowed terraces in Clapham, etc, are ugly (imo).

Clapham Common, Stockwell, Balham, Lavender Hill (Claphham Junction) and Brixton tube stations as you stops are unappealing and at night, or even daytime, are in stabby areas. Ghettoland.

Ergo, I don't envy Trainees and NQs at firms which are reported weekly in RoF to be paying six-figure salaries. 

 

 

Anyone can get a mortgage in London, they're doing 5% government depo schemes, and help to buy 5% depo, 40% equity loans.

This is why I moved to Dubai generally though - I realised nearly 15 years ago that the UK was a crock of sh1t. Incomes back then were 55-60k for an NQ at an MC, and they only went up to 110-120k max for a senior associate; there were virtually no US firms in London which recruited at the time, and you were taxed to death on that, and the expectations haven't really changed in terms of work ethic, responsiveness, etc. And yes, the incomes went up and do did the tax.

The only way to make money as a lawyer in London is to leave London and become an expat, and the far less profitable alternative is to stay the course, year after year, churn but don't burn and go for partner and then the equity and stay that course up the ladder. Or go to Slaughters and get paid 1 mill a year at 7PQE. The chances of you being in that 1% in this overwhelmingly saturated and high turnover market is 0% - tha'ts maths.

I wonder why the OP isn't extolling the virtues of owning BTL in Dubai ? Surely rents and capital values are climbing relentlessly given what an amazing place it is to live.

BTL in Dubaj itself? You can do but risk since the market isn't as established as London's, and any building with a view you invest in could have a newer taller building built right in front of it overnight 

Rent is generally quite cheap on Dubai and has gone up due to the expo

I do have friends at developers, and Dubai is a small place, everyone knows everyone so it is not impossible to get something dirt cheap, I haven't gotten round to it yet

I also have no idea how long I will be here for, this is a plus: i can go and do anything at this point as money not so much of an issue

That's not really true and out of context re that portrait. Prices were going through the roof until 2008, quadrupling every year, then they slipped until 2011, then they went through the roof again going up 30-40% a year until 2014-15, prices didn't fall from 2014, they just rose very slightly less fast, in late 2015-16 they dipped by about 10%, then prices remained stable for a year/year and a half, then a slight fall / remained stable for a few years, until now where they're rising a lot. Looking at the market in general isn't indicative of what's really happening - some places have almost doubled in rent in the last few months because of the expo and their location / size/ views etc.

However, as I said, it's a less established and stable market than London which just goes up every year and where the local population are completely screwed as a result. Money from all of the world is thrown into London property - including from me of course.

Na, that's bullsh1t, no analysis of the data or sources. Reality is property in Downtown and Jumeirah has held well. Certain segments - villas, certain apartments, certain areas - have done better than others. Generally as I've kept saying...Dubai isn't as stable or boyent a market as London, and given the chance to invest here or London, you invest in London rather than a place which has more supply than demand, where you may decide to leave, have no dependents or relatives, or where a new skyscraper could ruin the USP of your flat.

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