London is turning into an oversized private members’ club

For the millenial with no money, no umbrella and no hope of ever owning a house, it's time to look elsewhere.

“Boop.”

I’m on a bus. I’ve just scanned my Oyster Card and I’m getting the “insufficient funds” Red Dot Of Doom. Outside, great watery clumps are falling out of the sky.

“No, no, no, no, no, no, no,” I say to both the driver and myself.

I don’t have any cash. I try giving the driver big, wounded puppy eyes. Nothing. He shrugs, I slump off the bus. I could’ve sworn I topped up my Oyster with a tenner about an hour ago. But London is like a sweaty magician in a snazzy waistcoat, who makes money disappear.

This isn’t fun anymore. With no money, no umbrella and no hope of ever owning a house, I wrestle my way through the rush hour on foot, back to my parents’. Maybe I’ll move out again one day, or maybe rent prices will continue to soar Shard-high.

Over the past couple of years, I’ve realised that, for so many millennials, living in London is a form of masochism. Last week, I saw a friend from Brighton wince as she paid four quid for a pint. Jaded by London prices, I looked on, dead-eyed and handed over an even heftier purse of monies for a G&T.

As the city I love turns into an oversized private members’ club, not a day goes by now where I don’t ask myself, “What am I doing here?”

The other day, I was paying some of the highest prices in Europe to be unceremoniously jammed into an armpit, on the tube, when it hit me: let’s all move to Londonderry.

According to a piece in the Telegraph, earlier this year, Londonderry is the most affordable city to live in, in the UK. Please note, I’m not referring to the Northern Irish city by its unionist name for any political reasons. I just like that I could live there and still claim that I live in London. Ish.

Within a couple of minutes of researching rental prices in Londonderry, I find a six bedroom mansion, with land (actual land), that’s on the market for £525 PCM. House-sharers, that’s £20 per person, per week. Even when I lived in Brighton, I was (at one point) paying £90 per week to live in a slightly upmarket squat.

In Londonderry, the budget mansion is only a very slight anomaly. I soon find non-methy, spacious terraced houses in central locations for around £30 PPPW. The average rental price in London is over £1,200 per month. To contextualise this even further, a grave plot and burial in the capital can now reach around £5,000. So, in the short term, it’s cheaper to be alive in Londonderry than dead in London.

Millennials, hear me out – in Londonderry, we would live like a slightly plumper Henry VIII. Gout-ridden and fat on roast swan, we’d slap our thighs and guffaw heartily over the years we spent paying hundreds of pounds a month for the pleasure of living in ungodly dirt shacks. And in Londonderry, there are cool things like this and this. And I’m pretty certain that this is in Bavaria, but it still came up when I Google-imaged “Londonderry”.

So, what’s shackling me to London? One of the obvious fetters is the gay scene – one of the most vibrant in the world. But, according to my research, it’s not as if Londonderry is completely devoid of rainbows and Lady Gaga. In 2010, the city had its first ever Gay Pride and I bet you pints don’t cost £4 in this gay bar. Plus, my fellow London-weary homos, if we all emigrated there at the same time, we could make Londonderry, like, really fucking gay. There’s always room in a socially conservative Catholic stronghold for a Jewish lesbian on a mission.

Living in London is a form of masochism. Photo: Getty

Eleanor Margolis is a freelance journalist, whose "Lez Miserable" column appears weekly on the New Statesman website.

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