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Price of flats in capital plummet


Mrs Bear
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9 minutes ago, MARTINX9 said:

 

This studio flat in Mayfair looks excellent value at £100,000!

http://www.rightmove.co.uk/property-for-sale/property-71168678.html

 

I presume you are meant to sleep in your car?

back of a fag packet job reckon you could fit six phone boxes in a car parking space, at say £2k a pop

£115,000 parking space (+15% to secure the deal)

£12,000 phone boxes

£6 for six padlocks

 

chuck in six single asians/eastern euros in "vertical city living space" at £500p/m each

 

Costs £127,006

Income £3,000 per month = £36,000 per year

= 28% yield 

once up and running either sit back and watch the coin roll in, or easily be able to flip that for £500k to some sucker chasing single digit yields

 

make sure to disconnect the phones otherwise you're going to get some eye watering bills through 

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2 hours ago, happyguy said:

Apartments will fall there are far too many in London.  There are few houses which will keep prices at least stable 

Yes literally thousands of them priced really high. It is weird, a new 2 bed flat is priced in zone 3 (Stratford) at the same price as 2 bed (old flat) near edges of zone 1 (pmilico/edgware road). Market forces will correct but most buyers currently dont know.

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17 hours ago, thewig said:

back of a fag packet job reckon you could fit six phone boxes in a car parking space, at say £2k a pop

£115,000 parking space (+15% to secure the deal)

£12,000 phone boxes

£6 for six padlocks

 

chuck in six single asians/eastern euros in "vertical city living space" at £500p/m each

 

Costs £127,006

Income £3,000 per month = £36,000 per year

= 28% yield 

once up and running either sit back and watch the coin roll in, or easily be able to flip that for £500k to some sucker chasing single digit yields

 

make sure to disconnect the phones otherwise you're going to get some eye watering bills through 

No need to be vertical, just stack them on their sides with the doors facing out. You're welcome.

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2 hours ago, the_duke_of_hazzard said:

No need to be vertical, just stack them on their sides with the doors facing out. You're welcome.

That's the type of thinking this country needs. I hereby grant you the 118 award for Genius. It also doubles as a tennant prodder.

Image result for 118118 award

Edited by honkydonkey
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18 hours ago, warrior88 said:

Yes literally thousands of them priced really high. It is weird, a new 2 bed flat is priced in zone 3 (Stratford) at the same price as 2 bed (old flat) near edges of zone 1 (pmilico/edgware road). Market forces will correct but most buyers currently dont know.

Nah, that's the help to buy effect. Most buyers can't buy without the government assistance. What that says for their resale ability...

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23 hours ago, warrior88 said:

Yes literally thousands of them priced really high. It is weird, a new 2 bed flat is priced in zone 3 (Stratford) at the same price as 2 bed (old flat) near edges of zone 1 (pmilico/edgware road). Market forces will correct but most buyers currently dont know.

Spent yesterday wandering around moorgate shoeditch i.e city and outskirts, the amount of building is unreal I could not recognise the place from 15 years ago. Flats going everywhere mostly barrets. The ones by tower bridge did look nice. 200k each ??:lol:

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5 minutes ago, longgone said:

Spent yesterday wandering around moorgate shoeditch i.e city and outskirts, the amount of building is unreal I could not recognise the place from 15 years ago. Flats going everywhere mostly barrets. The ones by tower bridge did look nice. 200k each ??:lol:

Why rent when can buy for £200k with help over 40 years......get a lodger £70 a week?;)

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