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Stagnant In Sheffield

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1 20/10/2005 £332,500 Semi L No Map 69, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

2 19/08/2005 £370,000 Semi F No Map 5, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

3 28/01/2005 £290,000 Semi L No Map 87, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

4 30/07/2004 £264,950 Semi L No Map 32, Banner Cross Road, Sheffield, South Yorkshire, S11 9HR

5 30/07/2004 £318,200 Semi L No Map 69, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

Look at no.69. The modest £14,300 'profit' (yoy increase of less than 4% .....) is almost entirely wiped out when you factor in the 3% stamp duty (£9,546) and the estimated £5,000 (assuming 1.5% commission) estate agent fees.

For non-Sheffielders, Banner Cross Road is one of the very best addresses in Ecclesall South, set in Hallamshire - the third (or fourth ... I forgot) richest constituency in the whole of the UK.

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A few quick calculations in my lunch break. Putting the same sum as the original purchase price (£318,200) in a monthly interest saving account would yield about £1,200 (@ 4.5% - rate was higher 12 months ago). A very similar house in that same road was rented recently at £900 pcm. So, over 15 months you'be over £4,500 better off renting compared to the small nett loss as shown above . Just hope for their sake that they didn't go mad on 'home improvements' ....... :D

A few quick calculations in my lunch break. Putting the same sum as the original purchase price (£318,200) in a monthly interest saving account would yield about £1,200 (@ 4.5% - rate was higher 12 months ago). A very similar house in that same road was rented recently at £900 pcm. So, over 15 months you'be over £4,500 better off renting compared to the small nett loss as shown above . Just hope for their sake that they didn't go mad on 'home improvements' ....... :D

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1 20/10/2005 £332,500 Semi L No Map 69, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

2 19/08/2005 £370,000 Semi F No Map 5, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

3 28/01/2005 £290,000 Semi L No Map 87, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

4 30/07/2004 £264,950 Semi L No Map 32, Banner Cross Road, Sheffield, South Yorkshire, S11 9HR

5 30/07/2004 £318,200 Semi L No Map 69, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

Look at no.69. The modest £14,300 'profit' (yoy increase of less than 4% .....) is almost entirely wiped out when you factor in the 3% stamp duty (£9,546) and the estimated £5,000 (assuming 1.5% commission) estate agent fees.

For non-Sheffielders, Banner Cross Road is one of the very best addresses in Ecclesall South, set in Hallamshire - the third (or fourth ... I forgot) richest constituency in the whole of the UK.

According to Home.co.uk House Price [LReg] graphs its worse than stagnant

http://www.home.co.uk/guides/house_prices_...mp;endyear=2006

Down 6% in 6months to Apr06!! :unsure:

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A few quick calculations in my lunch break. Putting the same sum as the original purchase price (£318,200) in a monthly interest saving account would yield about £1,200 (@ 4.5% - rate was higher 12 months ago). A very similar house in that same road was rented recently at £900 pcm. So, over 15 months you'be over £4,500 better off renting compared to the small nett loss as shown above . Just hope for their sake that they didn't go mad on 'home improvements' ....... :D

SNIP

318,200 principle pays interest of ~1200 a month? Not if you're paying tax it doesn't.

How about knocking marginal rate of that puppy and seeing how the figures stack up.... or rather don't.

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1 20/10/2005 £332,500 Semi L No Map 69, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

2 19/08/2005 £370,000 Semi F No Map 5, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

3 28/01/2005 £290,000 Semi L No Map 87, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

4 30/07/2004 £264,950 Semi L No Map 32, Banner Cross Road, Sheffield, South Yorkshire, S11 9HR

5 30/07/2004 £318,200 Semi L No Map 69, Banner Cross Road, Sheffield, South Yorkshire, S11 9HQ

Look at no.69. The modest £14,300 'profit' (yoy increase of less than 4% .....) is almost entirely wiped out when you factor in the 3% stamp duty (£9,546) and the estimated £5,000 (assuming 1.5% commission) estate agent fees.

For non-Sheffielders, Banner Cross Road is one of the very best addresses in Ecclesall South, set in Hallamshire - the third (or fourth ... I forgot) richest constituency in the whole of the UK.

If ever there was a relevant quote for me!

I'm selling on Banner Cross Road at the moment.

You're right about no 69 - it took them 3 months to get an offer for the second sale (was up for £329,000) - and they'd done a fair bit of modernising to the house in the year they'd had it. Hence the gross profit was completely wiped out...

The £370k paid for no 5 last year was an anomaly. A family relocated from London and were happy to pay way over the odds - much to the delight of the vendors. We however have not been able to replicate their feat and have found that there are lots of viewers who are very nervous price wise.

I would definitely say that the market is (at best) stagnant since last summer, much to our disappointment!

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  • 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%



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