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bearishonhouses

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About bearishonhouses

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  1. I think that the 'estimated value' reported by houeprices.io simply takes the most recent transaction price and indexes it by the Land Registry's index of house prices since that date. Consequently, if the last purchaser 'overpaid' - as is often the case for a new-build - the reported 'estimated value' is similarly an overestimate.
  2. If you go the land registry, you can create a time series of house prices based on region (certainly down to the county) and house type (detached, semi, flat etc.) I believe this is the most accurate house price index because it is based on subsequent sales of the same property. And it looks as if your perception is correct - the price index for Aberdeenshire has scarcely increased since 2008. https://landregistry.data.gov.uk/app/ukhpi/browse?from=2006-01-01&location=http%3A%2F%2Flandregistry.data.gov.uk%2Fid%2Fregion%2Faberdeenshire&to=2021-04-01&lang=
  3. Maybe the neighbours could each chip in 30k and their houses would become semis rather than terraced. That has to be worth something. Burn down the other side too and become a detached des res.
  4. The main reason why TPTB will probably not want to introduce an ad valorem land tax is because of its impact on house prices. Suppose the annual tax is 1% of market value. But market value will be very much lower because of this tax. For example, with no tax, a house sells for 500k. With a 1% annual tax, that is 5k per year. The capitalized value of this outgoing depends on what you think is an appropriate discount rate. Given that capitalized values of inflation linked pensions are, at present, approximately 40 * the annual pension, it seems to me that 40 might be an appropriate multiplier.
  5. I wish you and yours happiness in your new home. As long as you can continue to afford the mortgage payments, the 'value' does not matter. (Even if, as I suspect, it will be higher two years by the end of 223 and not 50% lower, which is what I would prefer.)
  6. It is a long, long time since I studied law but fwiw I recall correctly, legacies to named beneficiaries who have predeceased the legator fail (other than the issue's issue exception - which enable grandchildren to stand in for their predeceased parents - i.e. a child of the legator. ) Any gifts that fail then fall into the residue of the estate and are inherited by whoever is named as the residuary legatee. If there is no residuary legatee named, as appears to be the case here. the rules of intestacy apply; which say, absent a surviving spouse, the estate is split equally between chi
  7. Oh dear - someone is losing out capital wise: Would we not all be happy to see prices back to below 2003 levels!
  8. Apparently sold for 950,000 (and put aside another 5 million to renovate). I wish the purchaser good luck. https://www.rightmove.co.uk/news/articles/property-news/kinmel-hall-sold-at-auction
  9. Here is another good one. Looks like a bargain at 50,000 until you look at the mining engineers report. Apparently, the building may fall down at any time because in C19, the chapel was built on a site that is criss-crossed by a patchwork of tunnels. Mind you, it appears to have been standing satisfactorily for the past 150 years. https://www.rightmove.co.uk/properties/79723401#/
  10. IF, and it's a big if, the builders, cladding manufacturers (and all other parties) complied fully with then existing building regs and laws, then I think the government screwed up by failing to have building regs that were fit for purpose. In those circumstances, I am prepared to pay increased to taxes to enable individuals who suffered through no fault of their own, to be compensated. If this is not the case, then I do not see why my taxes should fund the compensation. Sue the prior vendor, builder, inspector and anyone else who failed to their job properly.
  11. Is the 'life interest' the right to benefit from the house as long as she lives - including renting it out to a 3rd party, or just the benefit of being able to live there - rent free - as long as she wishes to? If the former, her life expectancy is what matters - and if you say it is of the order of 10 - 15 years, then a 10% -to 15% discount from (what I think is called) 'freehold and free' valuation seems reasonable. If it is the latter, then her very actions suggest that she does not actually want to live there at all - because, as you say, it is too big. And therefore, it is not life expect
  12. FML - these guys do not appear to have got the memo. This house is back on - now asking £1,450,000! Presumably based on the logic that it was worth £1,200,000 in August 2017 (except it didn't sell - not even for 875k). https://www.rightmove.co.uk/properties/88569907#/
  13. see: https://www.ceicdata.com/en/indicator/japan/real-residential-property-price-index Looks like the 'real price index' now is approximately 108 (same as the level in 1972). The maximum in 1990 was about 175. otoh, I am not sure how reliable these statistics are since https://housingjapan.com/buy/history/ says that the increase in prices from 1982 - 1990 was 'six or seven times' . Inflation was, for Japan, high during that period but https://tradingeconomics.com/japan/consumer-price-index-cpi says general inflation was only about 30% over this period. So hard to tell really wha
  14. What a wonderful building - facing a very sad end in the near future, I fear. I cannot see anything other than demolition is viable for something like this. There are several late Victorian houses in that part of the world (although I am aware of none as big as this) that were built for the industrial barons of the Manchester. One that I stayed in back in the 80's when it was a private school of accountancy is Caer Rhun Hall. (See https://www.hotels.com/ho614998 - the standard of accommodation when it was a school was far lower!) It became a 'wedding venue' hotel at some time and transf
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