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LHA Rates - causation or correlation


Wight Flight

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Wight Flight

Following on from where can you live for £100k, I have been looking more at LHA rates.

This is the easiest place to find them all - https://www.entitledto.co.uk/help/Local-Housing-Allowance-Rates

I did a random test based on Guildford, Bristol, Swindon, Ipswich, Woking, Ashford, Durham and Winchester.

My very unscientific research looked at the cheapest three bed shithole you could buy in any of those places. I excluded places that needed a complete renovation, over 60's discounts and 'odd' things like mobile homes. I settled on the lowest price that would have given me a choice of two or three shitholes.

In nearly every case, if you multiply the annual rent by 20 (i.e. look at a 5% gross yield), you will be within a few k of the lowest price for a property. The exception was Guildford where your would need to add anther £30k to your budget, as your yield would only be 4.5%.

So, if we work on the assumption that you don't want to get down and dirty with the druggies and dropouts, you need to live somewhere that would fetch LHA + about 20% per month, just enough that the benefit bozos wouldn't be able to afford to pay.

That therefore means that a liveable (not good) place will cost you 24 x the local LHA rate.

So, for your budget of £100k for a two bedder, you need to find somewhere with an LHA rate of <£350 pcm.

Good luck with that. 

 

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Interesting way to look at it but not unexpected results.  I would think rural areas would change the ratio somewhat.  For the half decent 100K house you need to be financially independent, retired or remote working.  

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I'm a remote non worker. Bit of a dreamer really. I like cushions, and women make them.

I'm a joker, I,m a smoker, I'm a midnight toker, get my lovin on the run.

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One percent
10 minutes ago, MrPin said:

I'm a remote non worker. Bit of a dreamer really. I like cushions, and women make them.

I'm a joker, I,m a smoker, I'm a midnight toker, get my lovin on the run.

Is your real name Maurice?  o.O

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1 minute ago, One percent said:

Is your real name Maurice?  o.O

I'm glad you have old records!

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One percent
2 minutes ago, MrPin said:

I'm glad you have old records!

I have records on everyone and everything. I am not venger however. 

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1 minute ago, One percent said:

I have records on everyone and everything. I am not venger however. 

Can I have my Venezualan passport back, Ms M. I need a holiday

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One percent
4 minutes ago, MrPin said:

Can I have my Venezualan passport back, Ms M. I need a holiday

Are you sure that the Russian one wouldn’t be more beneficial?

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Wight Flight
3 hours ago, MrPin said:

I'm glad you have old records!

Is that an old record?

Feck, now I am really depressed.

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One percent
27 minutes ago, Cunning Plan said:

Is that an old record?

Feck, now I am really depressed.

1973. I’ll leave you to judge. O.o

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Wight Flight
1 hour ago, UmBongo said:

Would you rather 'Fly like an Eagle' ?

Completely disrailed @Cunning Plan 's thread now! :P

Remind me, what was it about anyway?

1 hour ago, UmBongo said:

Would you rather 'Fly like an Eagle' ?

Completely disrailed @Cunning Plan 's thread now! :P

Remind me, what was it about anyway?

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