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House Price Crash Forum

ldavison81

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About ldavison81

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  1. I've already factored in ground rent and service charge (both small) to that calculation. Maintenance costs will be negligible, besides no guarantee that I will have a decent landlord in that timebeing. Much better than having to move every 6-18 months when the rent is hiked, or the landlord wants to sell the property etc. Plus not having the freedom to do with the property as I wish e.g. letting it out via AirBnb when I go away on holiday to cover the cost of my trip etc. On the flip side, the opportunity cost is if there is not a crash, and prices stay stagnant with perhaps 0-1% gr
  2. Difference between mortgage and rent savings over 5 years = £45,000 (with a very modest rent increase of 6% yoy). My last landlord increased my rent by in one year by 19%, needless to say I had to move out and find a cheaper property. Equity gained by paying a mortgage and not renting = Approx £40,000 (£8k repayment of capital each year) Saving of £85,000 over 5 years compared to renting the same property. So as long as property prices don't fall by more than 20% in the next 5 years, I will have been better off than if renting.
  3. Hi All, Thanks for your responses. I suspect the drop was something to do with a cheaper flat (a studio), selling in a nearby building in the past few months, this obviously brought the average price paid down a little because it's the only studio nearby these flats (mostly 1/2 beds). The strange thing is this sale was a few months ago and has been appeared on Zoopla for over a month, I think there must be a delay in actually refreshing the actual Zoopla estimates. Also, this purchase is for a relatively large 2 bed flat in Zone 3, not a 1 bed flat in Notting Hill - that's a dif
  4. Hi All, I'm currently in the process of buying a flat in London and have spent many hours researching the sale of comparable properties to ensure I am paying the right price. One of the tools that I have looked at, but not relied on, has been the Zoopla property price estimate. I understand that this is an estimate, and is based on the house price index data uploaded by the government and also I appreciate that it is not that accurate. However, I'm concerned as the Zoopla estimate dropped by 7% overnight for the particular property I am looking at, from around £400k to £370k, as
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