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Mikhail Liebenstein

Your old houses, what have they sold for subsequently?

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This is great exercise in appreciating the total madness of UK housing.

My first house: 2 up 2 down modern  mid terrace with postage stamp garden, on a quiet close, and close to station.

Oct 2000, I paid £132k

Sept 2002, I sold for £174,550

Aug 2007, sold for £249,950

May 2017, sold for £374,950.   (Utter madness)

My second house: 4 bed recent build detached, on a long cul-de-sac decent parking (3 cars) and double garage, 2 bathrooms, lounge and dining room linked by an arch and with a conservatory, and slightly bigger garden.

Sept 2002, I paid £372,500

Feb 2008, I sold for £500,000

May 2017, sold for £730,000 (Utter madness)

 

 

 

 

 

 

 

 

Edited by Mikhail Liebenstein

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Two bed terrace near Cambridge.

Bought £145,000 in 2007 after five years saving and sacrificing like a knob.

Forced sale and relocation in 2011 after losing job. £130,000.

I have actively avoided checking for subsequent sales post-2013 as if I saw in numbers how much my life has been sent into reverse in my mid-30s still renting again I'd possibly top myself.

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My FTB 2bed back to back house, 2003 bought for £36k, 2007 sold for £82k. Has since been on the market for at least 3 years at 79k. Through terraces with small yards and 3 bedrooms have sold for 20k less on the same street.

Edited by Northern Welsh Midlander

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I 'bought' my 1 bedroomed flat in 2004 for £64k, sold in 2010 for £76k. My vendor then sold it for £80k with a few minor upgrades in 2013 or 2014 (failing to get £90k).

Once a separate shower cubicle and further minor upgrades were added it was sold for an eye watering £100k in 2015! :blink: No way was it worth that.

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I get the impression from reading some of the other posts that it may be a game of 2 halves.

London and the South East have gone totally mental, but prices steadier or down in the north. I guess timing is a factor, I recall a colleague moving from Aldershot (not a great town or house) in 2004 and moving up to Staffordshire. He bought a massive mansion, and on paper was doing welll between 2004 and when things started tanking in 2008 - this was when the north was steaming ahead and the South had already inflated and was steady.

Anyway, after 2008 he was very concerned about negative equity. So perhaps it was just London that went bananas after 2011, in which case it is and will be London leading the way down.

Edited by Mikhail Liebenstein

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49 minutes ago, Mikhail Liebenstein said:

I get the impression from reading some of the other posts that it may be a game of 2 halves.

London and the South East have gone totally mental, but prices steadier or down in the north. I guess timing is a factor, I recall a colleague moving from Aldershot (not a great town or house) in 2004 and moving up to Staffordshire. He bought a massive mansion, and on paper was doing welll between 2004 and when things started tanking in 2008 - this was when the north was steaming ahead and the South had already inflated and was steady.

Anyway, after 2008 he was very concerned about negative equity. So perhaps it was just London that went bananas after 2011, in which case it is and will be London leading the way down.

I think Bristol, Bath and southwest have also gone up massively recently.

Purchased a house in 1998 in Bristol for £60k, sold in 1999 for £72k.  The house sold again in 2013 for £180k.  Similar houses sold for £250k and estimates now are closer to £270k.

I owned a house in Sheffield in 2000, which I paid £131k, I relocated and tried renting it, but that fell through so put it on the market and eventually sold it for the same as I purchased it.  I know it's changed owners a couple of times since then, but none of the sales have been recorded.

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Interesting exercise this. Looked at my first house bought in early 1994 for 42k at auction . 2 bed terraced unmodernised (no bathroom) in an estate of 100s of virtually identical properties . I modernised myself  Sold 10/98 76.5k, sold 12/01 115 k, sold 3/12  214k. I checked the EA photos and hse looked exactly the same as I left it in 98, so no improvements.

Throught rightmove looked at an identical house history which conveniently had sold every 10 years . sold 1/97 62k sold 3/07 189k sold 1/17 360k .

Wow ! £360k for  such an average starter property. So i wondered what was the most someone had paid .  Found a flipper who bought in 10/16 for 314k and sold 3/17 for 395k . The LR winner !

The LR only goes back so far but I've some old local news papers with EA adds. Looked at 11/08/88 EA advert and one on at asking of £78,500 (which was same asking for mine  ten years later) . Then 3/10/90...... asking 70k. The Greater London fall was in progress.

Fast forward to 1996 and one sold at auction 42k unmodernised, exactly what I paid 2 years earlier.

End of 90s things started to creep up . Hello Tony B and New labour.

I couldn't now even get a mortgage on my first house let alone the 3 bed I live in now. My teenage kids are ****ed without a crash.

Btw Greater London.

 

 

 

 

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1 hour ago, Mikhail Liebenstein said:

I get the impression from reading some of the other posts that it may be a game of 2 halves.

London and the South East have gone totally mental, but prices steadier or down in the north. I guess timing is a factor, I recall a colleague moving from Aldershot (not a great town or house) in 2004 and moving up to Staffordshire. He bought a massive mansion, and on paper was doing welll between 2004 and when things started tanking in 2008 - this was when the north was steaming ahead and the South had already inflated and was steady.

Anyway, after 2008 he was very concerned about negative equity. So perhaps it was just London that went bananas after 2011, in which case it is and will be London leading the way down.

The north still crashed last time it was just a year behind in 2008. As London crashes again it will take time to feed through,but why eventually it will be seen why would you pay high prices for the North when you can get a bargain in the south where all the jobs and high wages are?

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Bought semi for 75K Nov 2000. Summer 2002 I sold for 95K just as madness had started kicking in. I saw it online the last time it was sold for about £160K.This was Coventry. In hindsight I should have kept it and made it a BTL!

Edited by bear.getting.old

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These are my parents houses all within a 2 miles of each other

House 1

1990 - 87k (3 bed semi in NW London on 2 tube lines with 100ft garden, garden and shared drive)

1998 - 130k (Sold - i was 15 at the time and remember the buyers needing help form his parents to buy it, also my mum didn't want to sell this house she wanted to buy a second house to flip or to let out as an investment) 

2005 - 287k 

2017 - 570K (Zoopla valuation) 

House 2

1998 - 185k (moved in the day we lost on pens to ARG, 4 bed detached we 150ft garden on two rube lines in good road - paren really strethced themselves, mum had to work nights) 

2005 - 350k (sold due to divorce)  

2013 - 545k

2017 - 810K (Zoopla valuation)

House 3 (mum only now but kids paying into the running costs pot)

2005 - 300k (3 bed ex-council house still in nice area)

2010 - Mum lets out the house as moved to South Coast

2014 - 462k (house sold)

2017 - 517k  (Zoopla valuation)

So there we have it. My current situation is early 30's and I earn more money then my parents in their early 30's but I can't afford house 1. House 1 is a pipe dream. I'm patyin 1,450pm for a 2 bed in the same area.   

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i bought a one bedroom flat - a top floor conversion in an edwardian terrace in North London for 70k in 1998

Sold it in 2009 for 210k - barely gave it a lick of paint

Saw it on rightmove sold again in 2016 380k new kitchen and bathroom and redecorated throughout (20k of works tops)

so x5 increase in 18 years

Edited by knock out johnny

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I live in a large Northern city, I can give plenty of examples of Grandparents/Parents/Friends Parents etc. houses now selling for 5+ times what they were worth in the late 90s. This equates to 80-100k houses in the 90s now going for 300-500K+. 

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20 hours ago, Mikhail Liebenstein said:

This is great exercise in appreciating the total madness of UK housing.

My first house: 2 up 2 down modern  mid terrace with postage stamp garden, on a quiet close, and close to station.

Oct 2000, I paid £132k

Sept 2002, I sold for £174,550

Aug 2007, sold for £249,950

May 2017, sold for £374,950.   (Utter madness)

My second house: 4 bed recent build detached, on a long cul-de-sac decent parking (3 cars) and double garage, 2 bathrooms, lounge and dining room linked by an arch and with a conservatory, and slightly bigger garden.

Sept 2002, I paid £372,500

Feb 2008, I sold for £500,000

May 2017, sold for £730,000 (Utter madness)

 

Confirms that smaller or less expensive properties have been the really big gainers in % terms. Big gains on the second still but £372500 adjusted for inflation 15 years later is a fair move in itself to £570k ish? Presuming both in same location?

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Checked on my childhood home. According to the Mouseprice valuation it has increased in value by an average of £944 a month for the last sixty years. £1,750 to £717,000.

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2 hours ago, sexton said:

Checked on my childhood home. According to the Mouseprice valuation it has increased in value by an average of £944 a month for the last sixty years. £1,750 to £717,000.

This has a name, "The Death of the Middle Class". So much for the virtues of education, thrift and hard work, all now wiped out by years of cheap money.

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