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Totally Ridiculous Property Prices (post examples)


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https://www.rightmove.co.uk/properties/107509721

 

This has come up nearish to me.  2 years ago that would've been 250-300k (as it needs full renovation), 350k absolute tops allowing for largish plot (but not big enough to knock down and build two properties.

 

I mean seriously.... 550k for that (plus 34k stamp duty), so 585k, or around 25 times local average salary, for a rubbish 3 bed bungalow that needs total renovation???

 

Even on a zero percent mortgage its still £25k a year to pay back that capital over 25 years!

 

This country has gone mad.

 

 

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2 hours ago, ds7971 said:

Even on a zero percent mortgage its still £25k a year to pay back that capital over 25 years!

This country has gone mad.

This is the thing, whoever buys that won't be making themselves penniless by shelling  out £25k for 25 years, they will have lots of equity or an inheritance.

At least the estate agent bothered to mention it's a full renovation job, most of the shysters round here would just put something obscure like "a unique opportunity to put your own stamp on the property".

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It needs 100 k spending on it. The previous owners werent gardening fans, I clicked on the map and see its close to Knobcrook, cant believe Ive never come across that name amongst the funniest names in Britain before.

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3 minutes ago, Dweller said:

These were my favourites this week. Felt sorry for the people either side of the burnt out terrace :

https://www.rightmove.co.uk/properties/107604356#/

https://www.rightmove.co.uk/properties/107771642#/

2019 an end terrace (not burnt out ) was £100,000. Still £60,000 for a gap between two dreadful houses can't be bad can it!? 

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=60046686&sale=9287014&country=england

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30 minutes ago, Dweller said:

Presumably no insurance otherwise it would have got rebuilt wouldn't it ?
Can't imagine being in the two houses either side ! 

I doubt they will ever get the smell out. They are incredibly fortunate it didn't spread though!

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15 hours ago, satsuma said:

House is worth about 100k, the rest is the money people have to borrow to beat the other numpties to a life time of debt 

Yes, and the other £450k of the price tag is to keep the banking system solvent.

Edited by cnick
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1 hour ago, Locke said:

I doubt they will ever get the smell out. They are incredibly fortunate it didn't spread though!

Not sure if the people each side would see that as fortunate, not if they were insured. 

What would have happened if the two house each side were insured but the one in the middle wasn't ? Never thought of the problems being in a terrace if your neighbours aren't insured ! 

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On 27/05/2021 at 20:48, ds7971 said:

https://www.rightmove.co.uk/properties/107509721

 

This has come up nearish to me.  2 years ago that would've been 250-300k (as it needs full renovation), 350k absolute tops allowing for largish plot (but not big enough to knock down and build two properties.

 

I mean seriously.... 550k for that (plus 34k stamp duty), so 585k, or around 25 times local average salary, for a rubbish 3 bed bungalow that needs total renovation???

 

Even on a zero percent mortgage its still £25k a year to pay back that capital over 25 years!

 

This country has gone mad.

 

 

Here's my post

https://www.rightmove.co.uk/

 

:ph34r:

 

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20 hours ago, telespy said:

Two-bedroom cottage in Padstow measuring just 8ft 2in wide - making it narrower than a London bus goes on the market for nearly £430,000

https://www.dailymail.co.uk/news/article-9639793/Two-bedroom-cottage-measuring-just-8ft-2in-wide-market-nearly-430-000.html

".....with potential as a holiday let "

And how long would it take to see a return on ones investment in nominal terms (never mind real terms!) ?

AND IF, instead, it's being bought as a personal seaside retreat/crashpad.....How much would it cose to secure the most expensive room(s) in the best hotel in town for, say, the next XX years for whenever you fancied popping down there?

That price just makes no sense whatsoever in any universe, so far as I can see.

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21 minutes ago, Huggy said:

A lawyer, a banker, a consultant, or just someone over 50 who bought at the right time (and worked 'hard') could become trailer trash 😀

https://www.rightmove.co.uk/properties/78445836#/

Rivers are nice to visit, and it doesn't look bad (I'd spend a week there if it wasn't in effing Staines), but that is a la la land price.

Lol 500k for a portacabin next to a river lmao

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1 hour ago, Huggy said:

A lawyer, a banker, a consultant, or just someone over 50 who bought at the right time (and worked 'hard') could become trailer trash 😀

https://www.rightmove.co.uk/properties/78445836#/

Rivers are nice to visit, and it doesn't look bad (I'd spend a week there if it wasn't in effing Staines), but that is a la la land price.

There was a failed self build project for sale on the river there a year or two ago.  A big place but they'd not even finished the ground works.  I think it was on for £2m or close.

The river is lovely, it's just a shame it's hemmed in between Staines, the M25 and the LHR departures.

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2 hours ago, Postman said:

Lol 500k for a portacabin next to a river lmao

Looks cheap to me

1) Static caravan so assume watertight

2) Not utter shithole inside and presentable for its type

3) Nice wide river view

https://www.rightmove.co.uk/properties/105763883#/
 

  • Smaller
  • creeksih view
  • crap hole
  • holiday home only
  • No jobs near

Owners clearly high status as cannot be arsed to clean it for 1 hour to get 300K+

Thats near 10,000£ per m2 of shack

 

Edited by Fromage Frais
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