Jump to content
House Price Crash Forum
gf3

Renting Cheaper Than Buying In London, The South East And Scotland

Recommended Posts

The article sounds strangely bullish to me ie "House prices are rising too quickly which makes renting cheaper".

In any case, a poorly written article which as always does not take into account the costs of home ownership vs renting. You might save £145/m with a mortgage but easily blow it all on maintenance and insurance.

Share this post


Link to post
Share on other sites

3 bedroom detached house for sale

£195,000

Voyagers Close, Thamesmead

7831_2512316_IMG_00_0000_max_620x414.jpg

Didn't think this was a bad price for London

I was looking to see what my house would be worth in London and expected much higher prices than that.

Edited by gf3

Share this post


Link to post
Share on other sites

3 bedroom detached house for sale

£195,000

Voyagers Close, Thamesmead

7831_2512316_IMG_00_0000_max_620x414.jpg

Didn't think this was a bad price for London

I was looking to see what my house would be worth in London and expected much higher prices than that.

Thamesmead is a shithole and in the middle of nowhere!

Share this post


Link to post
Share on other sites

Thamesmead is a shithole and in the middle of nowhere!

Could have fooled me. I thought that all of London was a shithole.

Share this post


Link to post
Share on other sites

Thamesmead is a shithole and in the middle of nowhere!

I don't think those newish housing estates are too bad. Agree it's in the middle of nowhere. Thames Water treat the sewage there so it smells of crap if you're downwind! Some weird ass parks too, like Southmere, where they have the horses. Just an odd place.

Share this post


Link to post
Share on other sites

I have to disagree with this article with regard to Scotland. It may hold up in places like Edinburgh and Aberdeen but most of the Central belt of Scotland this is not the case.

Here is one of the cheapest flats for rent in Fife:

1 Bedroom Flat - £330 PCM

For £330 per month you can get a repayment mortgage for £76,000 @ 3% interest over 30 years with a 5% deposit.

We just bought this house for £80,000:

Our house

We put down a 25% deposit so our repayment mortgage will be about £240 a month.

It just doesn't make sense to rent around here unless you are getting housing benefit.

Edited by lovelyhead

Share this post


Link to post
Share on other sites

I guess investing 64k in the stock market plus 600 a month for 25 years would be a pretty good long term investment, probably worth more than you earned over the period of tome.

You would have a diminishing amount to invest if rent rises each year, whereas mortgage payments are likely to diminish in real terms. Also at the end of the period you would have to hope that your nest egg is now big enough to buy the house. No reason why it should be.

Wait for prices to fall, for sure, but it would be foolish to expect investments to reach that high. Endowment mortgages failed and they were not even trying to beat an asset that tends to rise over time.

Share this post


Link to post
Share on other sites

I don't think those newish housing estates are too bad. Agree it's in the middle of nowhere. Thames Water treat the sewage there so it smells of crap if you're downwind! Some weird ass parks too, like Southmere, where they have the horses. Just an odd place.

Google Thamesmead fraud. It is that bad, that's why you could get a 3 bed detached for under 200k.

Share this post


Link to post
Share on other sites

Google Thamesmead fraud. It is that bad, that's why you could get a 3 bed detached for under 200k.

Any data on fraud in Themesmead compared to the city square mile.

Share this post


Link to post
Share on other sites

You would have a diminishing amount to invest if rent rises each year, whereas mortgage payments are likely to diminish in real terms. Also at the end of the period you would have to hope that your nest egg is now big enough to buy the house. No reason why it should be.

Wait for prices to fall, for sure, but it would be foolish to expect investments to reach that high. Endowment mortgages failed and they were not even trying to beat an asset that tends to rise over time.

Hah! Please don't try and connect a fraudulent product such as Endowment Mortages of a bygone era (assumptions of >6% growth pa) with a sound stock market / venture capital investment strategy.

Share this post


Link to post
Share on other sites

3 bedroom detached house for sale

£195,000

Voyagers Close, Thamesmead

7831_2512316_IMG_00_0000_max_620x414.jpg

Didn't think this was a bad price for London

I was looking to see what my house would be worth in London and expected much higher prices than that.

'gf3', on 14 Sept 2013 - 09:28 AM, said:

Archived listing from the time

Asking price £195,000 (Sold STC)

http://www.rightmove.co.uk/property-for-sale/property-28073832.html

Sold at £177,500 it looks like on 27 March 2014.

Yet since sold again, it seems, for £249,999 into the frenzy, where, market participants make their own decisions based on what they see as value.. their outlook for their future prosperity/incomes etc.

Sale Date: 07 Nov 2014. Price Paid: £249,999 (and they listed it for sale at £264,995 in May 2014)

Sale Date: 27 Mar 2014. Price Paid: £177,500

Source RM Sold Prices / Land Registry data for the above = http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43894712&sale=52655687&country=england

Savers need their 0s and 1s wiped out, to save these HPI buyers/debtors yeah? And complacent owners not rushing to cash in on these prices, with inventory on market still at very low levels.... not in any rush to sell up for fortunes before any HPC.

Share this post


Link to post
Share on other sites

'gf3', on 14 Sept 2013 - 09:28 AM, said:

Archived listing from the time

Asking price £195,000 (Sold STC)

http://www.rightmove.co.uk/property-for-sale/property-28073832.html

Sold at £177,500 it looks like on 27 March 2014.

Yet since sold again, it seems, for £249,999 into the frenzy, where, market participants make their own decisions based on what they see as value.. their outlook for their future prosperity/incomes etc.

Sale Date: 07 Nov 2014. Price Paid: £249,999 (and they listed it for sale at £264,995 in May 2014)

Sale Date: 27 Mar 2014. Price Paid: £177,500

Source RM Sold Prices / Land Registry data for the above = http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=43894712&sale=52655687&country=england

Savers need their 0s and 1s wiped out, to save these HPI buyers/debtors yeah? And complacent owners not rushing to cash in on these prices, with inventory on market still at very low levels.... not in any rush to sell up for fortunes before any HPC.

Wonder if the march sale was an ea insider deal on a probate... Tidied it up and marketed it a bit... Edited by Si1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   212 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.