After 15 years, only Bolton buyers have lost money

I_have_spoken

If you bought a house in Bolton in the last 15 years, you will almost certainly have lost money.

Property prices in Bolton have slumped by 9pc over the past 15 years. The second-worst performer was Leicester, where prices in the city centre have risen by 9pc since 2000. Across England and Wales house prices increased 172pc on average over the same period.

The top 10 worst places to have bought a property since 2000

Bolton city centre: -9pc
Leicester city centre: +9pc
Birmingham, near Aston University: +27pc
Leeds, Woodhouse: +38pc
Birmingham (north of Birmingham New Street): +42pc
Knowsley, near Huyton: +46pc
Liverpool (south docks): +51pc
Stockton-on-Tees (Salters Lane): +54pc
Liverpool city centre: +55pc
Isles of Scilly: +58pc

Factor in inflation over 15 years, and I expect many of the lower ranking places would be out the money.

westv

But the article also says that only 1 out of 43 areas in Bolton didn't gain and 16 areas did better than the E&W average.

Running_Horse

Fifteen years is a long time and a fairly random benchmark.

Why not ten, twenty, or five? We bought nine years ago.

Generali

Running_Horse wrote: »

Fifteen years is a long time and a fairly random benchmark.

Why not ten, twenty, or five? We bought nine years ago.

Because it goes back to 2000 a nice, round, meaningless figure?

You'd need to make 51% to cover compounded inflation since then.

cells

The north and midlands seem very good value and arguably cheap.

cells

http://www.rightmove.co.uk/property-for-sale/property-55593194.html

That would be north of £2 million in hackney but also the internals would likely be a lot better

michaels

Generali wrote: »

Because it goes back to 2000 a nice, round, meaningless figure?

You'd need to make 51% to cover compounded inflation since then.

CPI 34.8%? (more chars)

carslet

Or the other way to look at it. Bought for 77k and 15 years of paying it, probably paid off after 15 years so owner has 70k and no mortgage

OR 15 years of renting, has no house and still has to pay rent.

Generali

michaels wrote: »

CPI 34.8%? (more chars)

Source: BoE inflation calculator, prolly using RPI.

wymondham

Interesting Isle of Scilly is +58pc - is there a mass exodus 'up north' or has a national housebuilder setup shop and building 'affordable' homes again?

wymondham

on another note, why is Bolton's record so poor? Does the council have odd policies/lack of jobs/industry/local radiation leak etc?? it must be something?