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Henry Pryor / Top of the market stats


spunko

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5 hours ago, Bobthebuilder said:

Lovely place, if you had extended family to share it with its a good rental price. High bills for sure but no maintanence costs.

The maintence costs are going to be about £20k a year going by the previously posted formula (1% of purchase price).

Therefore I'm not sure how the landlord/owner is going to even be anywhere near to paying off the mortgage.

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Democorruptcy
7 hours ago, spunko said:

Anyone know please the formula to figure out how much this has "cost" the owners so far against inflation?

https://www.rightmove.co.uk/property-for-sale/property-83471537.html

The stamp duty would have been less on this price. about 3% then:

 

£2,480,000 Detached, Freehold, Residential 01 Jul 2013

Put into perspective it sold for £1.3m in ....... 2001. That's pretty incredible, I wonder if the higher end will see parity with 2001 before the lower end.

£1,360,550 Detached, Freehold, Residential 24 Oct 2001

When sold in 2013, +82% nominal and +27% real terms

Mouse over the 2013 sale

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Bobthebuilder
2 hours ago, spunko said:

The maintence costs are going to be about £20k a year going by the previously posted formula (1% of purchase price).

Therefore I'm not sure how the landlord/owner is going to even be anywhere near to paying off the mortgage.

I would say thats about right on average. It looks like its had a load spent on it already. To replace the heating / hot water in that place would cost nigh on £20k.(done properly).

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9 hours ago, Bobthebuilder said:

Lovely place, if you had extended family to share it with its a good rental price. High bills for sure but no maintanence costs.

My attitude entirely.If you're renting on a 3% gross yield or less,there's little point buying imho.Take away mortgage costs,upkeep...even if you pay cash,there's little upside in the higher end.The leveraged plays in property all tend to be running a 5% gross yields +++

3 hours ago, spunko said:

The maintence costs are going to be about £20k a year going by the previously posted formula (1% of purchase price).

Therefore I'm not sure how the landlord/owner is going to even be anywhere near to paying off the mortgage.

A god few of these hitting the market accoridng to my lettings agent.People who cant sell try and rent it out for a year or two so they can recover their profits

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Democorruptcy

Depends which way you look at it?

If the £2.5m 2013 purchase price had annual CPI added to it, (ignoring 2013 because it was bought part way through the year), then the £2.5m should be worth £2.7m now. If they get £2m they are down £700k against a real £2.7m, not just the £500k nominal.

2,500,000  
2,537,500 1.5
2,537,500 0
2,555,263 0.7
2,624,255 2.7
2,689,861 2.5
2,738,278

1.8

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Bobthebuilder
11 minutes ago, Democorruptcy said:

Depends which way you look at it?

If the £2.5m 2013 purchase price had annual CPI added to it, (ignoring 2013 because it was bought part way through the year), then the £2.5m should be worth £2.7m now. If they get £2m they are down £700k against a real £2.7m, not just the £500k nominal.

2,500,000  
2,537,500 1.5
2,537,500 0
2,555,263 0.7
2,624,255 2.7
2,689,861 2.5
2,738,278

1.8

Trying to get saving account rates to match that in the time frame might be a tad hard as well.

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Democorruptcy
3 minutes ago, Bobthebuilder said:

Trying to get saving account rates to match that in the time frame might be a tad hard as well.

I have one of those NS&I Guaranteed Income Bonds that was 3.9% 2010 to 2015 then rolled over onto 2.5% until it matures this year. Pity it's not for as much money!

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Bobthebuilder
6 minutes ago, Democorruptcy said:

I have one of those NS&I Guaranteed Income Bonds that was 3.9% 2010 to 2015 then rolled over onto 2.5% until it matures this year. Pity it's not for as much money!

 

Thats awesome well done, ive been sitting in 1.4% if im lucky.

Edit to add, 4% on savings? crikey, i remember when i was getting 6.4% on a cash ISA.

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Democorruptcy
5 minutes ago, Bobthebuilder said:

Thats awesome well done, ive been sitting in 1.4% if im lucky.

Thanks but it's not as awesome as the 2005 to 2010 rate which I think was over 6%!

GIBs not on the market now and from last May any new money rolled over loses the 90 day interest early exit penalty option. Hold to maturity only. 

I should have put the money in Tesla xD

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9 hours ago, Democorruptcy said:

Depends which way you look at it?

If the £2.5m 2013 purchase price had annual CPI added to it, (ignoring 2013 because it was bought part way through the year), then the £2.5m should be worth £2.7m now. If they get £2m they are down £700k against a real £2.7m, not just the £500k nominal.

2,500,000  
2,537,500 1.5
2,537,500 0
2,555,263 0.7
2,624,255 2.7
2,689,861 2.5
2,738,278

1.8

Thanks. Then add to that their SDLT at 2013 rates and running costs, at about 2k a month maybe, as it's been on the market for say 2 years now that's probably going to take it to 800k min.

I can see a million pound black hole opening up as I doubt they'll get full asking at this end of the market. 

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Democorruptcy
12 minutes ago, spunko said:

Semi relevant but IIRC the houseprices.io owner was/is on HPC, does anyone know if he's come over here to the dark side?

I wasn't sure if you knew about that website so stuck it up for future reference while I dug the ONS CPI stats up.

Was he 'evictee' on ToS?

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3 minutes ago, Democorruptcy said:

I wasn't sure if you knew about that website so stuck it up for future reference while I dug the ONS CPI stats up.

Was he 'evictee' on ToS?

Apparently so yes, but doesn't look that active.

https://www.housepricecrash.co.uk/forum/index.php?/profile/3871-evictee/

It's a great website (houseprices.io I mean....!) and I use it often. Clean, fast, easy to use.

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On 04/02/2020 at 13:08, Bobthebuilder said:

Lovely place, if you had extended family to share it with its a good rental price. High bills for sure but no maintanence costs.

Rental yield of 2.1%......if you get it for £3k pcm then it's 1.8%......................at that price,you're jsut about covering the maintenance and the tax bil.Why buy it?

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Bobthebuilder
48 minutes ago, sancho panza said:

 

Rental yield of 2.1%......if you get it for £3k pcm then it's 1.8%......................at that price,you're jsut about covering the maintenance and the tax bil.Why buy it?

Yep, if i was i higher earner with family i would go for that. (and stomp around the grounds late at night, pissed, naked and shouting at the gods, with a double barrel).

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