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Serious HPI

Rare Bear

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I just watched an old Silent Witness. One of the characters was living in a mansion flat beside the Albert Hall. She was a pathologist and I wildly guessed her salar to be may £159,000 tips. So I said to my wife, no way does the salary match the flat.

So when the program was over I had a look on Rightmove. Looked like she was living in a £6 - £8 million pound flat so the salary didn't really match up. Well, it was fiction.

However I noticed that a few streets away flats were making about £4 and a bit millions.

Back in the mid 70s I knew a couple of bright lads who dealt in property. They did a deal on that street whereby they managed to buy 3 flats as a single lot and to sell them individually. The really nice thing from their point of view was that they managed to do it as a back to back. They bought and sold at the same time and so didn't have to put any money up front. They made five grabd each, I saw one of the cheques.

Now the interesting thing is that these flats were sold for a few tens of thousands each. I forget exactly what but it could well have been in the thirties.

Now these flats are four million plus. That's inflation.

Edited by Rare Bear
Sorry Spunko, I meant to put to his in off topic. Could you move it please?
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I bought a house last year, paid £85k for it and it's possibly worth £115k once done up, it's in a row of 4 similar terraced houses and at the end of the row there's a small commercial garage.

Speaking to my neighbour who's lived in her house all her life she said back in the early 70's her dad was offered the row of 4 terraces, plus the garage, plus 5 acres of land behind the houses for...... £5k!

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Was just having conversation with my mum about this very subject. The house where we grew up is on the market. Parents bought for £55,000 in 1990 - now £1.25 million, and it’s quite a modest house. 

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