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Land worth more than the house?

How many places are there in the UK where the land is worth more than the house.
I think this may be the case mainly down South.

So in effect even buying a run down house and demolishing it and building a new will be more profitable

Comments

  • Rikki
    Rikki Posts: 21,625 Forumite
    There was a program on television a few days ago that mentioned a place. I'll try and remember.
    £2 Coins Savings Club 2012 is £4 :).............................NCFC member No: 00005.........

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  • wecanhelpu
    wecanhelpu Posts: 630 Forumite
    Last year, I was helping out a builder friend of mine who was working on a detached house in Lisvane (a very expensive suburb of Cardiff).

    A developer bought the house next door for 600k, demolished it and then built a new, larger house on the plot.

    I have no idea what it was then sold for but I presume they made a decent profit.
  • Rikki
    Rikki Posts: 21,625 Forumite
    I've found it. :)

    It was on COAST this Sunday gone.

    Sandbanks
    Aerial picture of the Sandbanks peninsula:The peninsular of Sandbanks is one of the expensive places in the world to buy a property.

    Its between Bournmouth and Plymouth.
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  • Guy_Montag
    Guy_Montag Posts: 2,291 Forumite
    1,000 Posts Combo Breaker
    Rikki wrote: »
    I've found it. :)

    It was on COAST this Sunday gone.

    Sandbanks
    Aerial picture of the Sandbanks peninsula:The peninsular of Sandbanks is one of the expensive places in the world to buy a property.

    Its between Bournmouth and Plymouth.

    The best thing about sea level change is it will turn these £1m+ beach-front houses into artificial reefs for divers.:T :T :T
    "Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
    Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
    "I think I'll become an alcoholic," said Betty.
  • wecanhelpu
    wecanhelpu Posts: 630 Forumite
    Guy_Montag wrote: »
    The best thing about sea level change is it will turn these £1m+ beach-front houses into artificial reefs for divers.:T :T :T




    Imagine going diving there with an estate agent. What would they say as they showed you around?

    "As you can see there are sea views from each room"

    "Yes, there is a bit of damp, but it's only cosmetic"

    "Here's the swimming pool"

    etc

    Any more?
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