Jump to content
House Price Crash Forum
Sign in to follow this  
spyguy

Dunslumming

Recommended Posts

https://www.gazettelive.co.uk/news/property/118-bedroom-property-comes-market-14614355

'A ‘118 bedroom property’ has come on the market for just short of £4m - but if you have visions of a huge mansion, think again.

While it is being marketed as a ‘118 bedroom property ’, it is actually a property portfolio made up of 44 houses in Middlesbrough.'

' The information adds that the total income is £393,023 and the net rent is £314,963. The property portfolio represents “a gross initial yield of 8.00%” '

So ... they are skimming 80k is 'costs/expenses' across 44 houses.

http://www.fostermaddison.co.uk/properties/property/8619522-borough-road-middlesbrough

And a valution of ~90k per house. For central middlesbrough. Fux that.

Hard to say what someone will pay fpr those houses. Only IO BTL Slum lords have been buying for ~15 years.

20k-30k tops.

 

 

Share this post


Link to post
Share on other sites
3 minutes ago, TonyJ said:

Someone told me not so long ago that Middlesborough prices have gone through the roof. So even though it is a renowned sh*thole, it is still a very expensive renowned sh*thole, where people are spending megabucks on crap.

Its not gone the the roof.

Its idiot LL and slumlords chaisng benefit and asylum seeker money.

Stop benefits.

Stop letting economic asylum seekers in and let the prices return to what someone in boro will pay for them.

boro houseprices have adjusted to what was Labour benefit and dumb polices would pay for them.

Share this post


Link to post
Share on other sites
7 minutes ago, TonyJ said:

£4 million for that seems like an awful lot of money, even if it is just buying a yield. What's to bet its being sold because of s24? The only buyer will be an incorporated LL, but they may find one, who can borrow a lot. 

PS I was told it is nice houses in Middlesborough that are asking southern prices.

Albany Street:

https://houseprices.io/?q=albany+street%2C+ts1

union street

https://houseprices.io/?q=union+street%2C+ts1

on average, about 60% less than what they are asking.

And those prices have been levated by billions of dumb IO BTL slumlords chasing benefits.

Remove LL and those houses will go back to 10k.-20k

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

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.