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Ex Council Sell To Rent

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I bought an ex council split level 3 bed flat in North Kensington in '97 for £60K. Being curious about the current value, I got an estate agent in to gimme a valuation. £280K he said. "Happy Days", I thought. He did say, however, that as soon as interest rates go up, there'd be a lot more good quality (ie Period conversion) property on the market thanks to all the over leveraged BTL stock this area has in spades and that property like mine would fall further and faster than these more desirable flats.

I'm thinking that he's right in a way. I can't see the flat ever breaking £300K (not this time around, anyway) and all the economic indicators are pointing toward a rise in rates. Anyone who knows the area will tell you that a 1 bed flat in a period conversion can EASILY hit £400K so should I bite the bullet and dump it before there's a shedload of nicer looking preoperty out there to compete with ?

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I bought an ex council split level 3 bed flat in North Kensington in '97 for £60K. Being curious about the current value, I got an estate agent in to gimme a valuation. £280K he said. "Happy Days", I thought. He did say, however, that as soon as interest rates go up, there'd be a lot more good quality (ie Period conversion) property on the market thanks to all the over leveraged BTL stock this area has in spades and that property like mine would fall further and faster than these more desirable flats.

I'm thinking that he's right in a way. I can't see the flat ever breaking £300K (not this time around, anyway) and all the economic indicators are pointing toward a rise in rates. Anyone who knows the area will tell you that a 1 bed flat in a period conversion can EASILY hit £400K so should I bite the bullet and dump it before there's a shedload of nicer looking preoperty out there to compete with ?

err work it out youself, i think you should keep the sh!thole

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If you're a reformed gambler with a chronic crack habit, you probably won't find having £200K sitting in the bank very good for your health. Not a good investment.

On the other hand, if you're DrBubb and a dab hand playing with derivatives, you might make a mint.

Ultimately you have to consider all the options, and make your own educated decision.

Edited by BandWagon

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  • 331 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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