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Overpriced Hove

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Anyone buying in hove should look at this. It is the same house.

For sale at £950,000 at http://www.mishonwelton.com/ordata/index.p...p;listingID=258

Interest only on the capital at 6% is £57,000 per year. On top of that there is maintenace and stampduty etc. So £65,000 a year sound about alright.

Rent is only £2500 per month (has been on rental market for 2 months) which equates to £30,000 a year. See this agent: http://lettingagentsbrighton.co.uk/view-property.php?id=2574

Who is getting a better deal the buyer or the renter.

Stop buying in Brihton & Hove in 99% of the cases you will have quids in when renting. Things will even get better once interest rates do go up even more.

:rolleyes:

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I have completed on my flat sell last Tuesday selling in Surrey walking away with £115000 to put into high interest accounts.

I am currently at home with parents and saving for at least 6 months at which point I may decide to rent with my girlfriend and save some more with the expectation and hope of market falls.If it does I will be holding off for as long as my circumstances permit.

The original Plan was to purchase a 3 bedroom house in the Brighton area but I woke up to the economics of the situation in time.Brighton house price Inflation has been rampant especiallly the last year.

I have been watching the Brighton and hove market and agree tha renting is the way to go. With property in Brighton and Hove at 9.3 average earnings and the biggest part of the population in the 25-35 age bracket I hoping like you that people will wake from their dream and see that buying is in fact a mugs game. Rent is not dead money!

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That's 1.5 million US $ for a not very impressive house.

Who is it that's going to buy it??!!!! Can you commute to the City from Hove??

I can think of a million better ways to spend that money.

I think it's the same every where.

I was reading an article about property in the paper this week.

They did a special on Twickenham that stated that a one bedroom flat costs £220,000 to buy or

£800 a month to rent.

It didn't mention that it would be so much cheaper to rent than to buy but he difference was obvious.

But ! in today's paper there was a story about a new residential property fund. They hope

to buy up hundreds of new flats to rent out.

What do they know that we don't???

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That's 1.5 million US $ for a not very impressive house.

Who is it that's going to buy it??!!!! Can you commute to the City from Hove??

I can think of a million better ways to spend that money.

I think it's the same every where.

I was reading an article about property in the paper this week.

They did a special on Twickenham that stated that a one bedroom flat costs £220,000 to buy or

£800 a month to rent.

It didn't mention that it would be so much cheaper to rent than to buy but he difference was obvious.

But ! in today's paper there was a story about a new residential property fund. They hope

to buy up hundreds of new flats to rent out.

What do they know that we don't???

Commute from Hove to city by train is about 1 hour and 5 minutes. That is the train only bit. However end-to-end is probably closer to 2 hours one way. But that seems normal for London types. I am not one of them I walk to work in 5 minutes.

Brighton & hove prices have rissen inline with London over the last year. Still there is no strong local economy with decent wages to support the high house prices. It becomes a city of expensive homes and studios & bedsits for the student, younger generation.

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It's a mystery to me.

Who will pay almost a million pounds for that house?

What will they do for a living?

The average wage in this country is still around 25 grand so the average person can only

borrow around 90 grand.

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243 properties over £650,000. Everybody is trying to sell while the going is good. This figure is 5 times more than last year when there were only 40-45 properties in this price range for sale.

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61 properties over 1 million pounds. Most expensive one is £3,750,000.

It is london prices without the london jobs here

I think a lot are being bought by Londoners who are a few years away from retirement. Also I know a few work form home tyes who live there and comute only once a week or so into the city.

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