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A mate's bro (genXer) bought a place in Hackney near the station with his mate not long out of uni. Good jobs, but nothing crazy just 95% mortgages and being young enough to not care about the area being a bit rough around the edges. Roll forward a few years and they had gained enough to sell up and buy their own houses in Walthamstow before the Stokey exodus of the twenty-tens.
Conversely another mate's bro the same age sold his place in Guilford just before the financial crisis so they could be cash buyers, then were unable to get another mortgage for over a year.
There is also quite a bit of good fortune involved too.
hugo7-
There is also quite a bit of bank of mum & dad involved too.
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Conversely another mate's bro the same age sold his place in Guilford just before the financial crisis so they could be cash buyers, then were unable to get another mortgage for over a year.
Nice timing! Sell at the top, hold cash and allow the market to drop 20% before you buy back is pretty much the dream.
Sumo
NickCJ
I could have bought a 2 bedroom flat in hoxton back in 1993 for around 80k (haberdasher street)- this actual flat :
https://themovemarket.com/tools/propertyprices/66-haberdasher-street-london-n1-6ej
i would be minted now if i had but i made some immature decisions and spent all my wages at Charlie wrights on Dragon stout...
Wages were seriously crap back then though (i worked for Hackney social services).
Some people have just made the right decisons at the right time and sacrificed a lot of luxuries and non necesseties so good on them .