Debate House Prices


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After 15 years, only Bolton buyers have lost money

I_have_spoken
I_have_spoken Posts: 5,051 Forumite
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.
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Comments

  • westv
    westv Posts: 6,461 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    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
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    Fifteen years is a long time and a fairly random benchmark.

    Why not ten, twenty, or five? We bought nine years ago.
    Been away for a while.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    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
    cells Posts: 5,246 Forumite
    The north and midlands seem very good value and arguably cheap.
  • cells
    cells Posts: 5,246 Forumite
    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
    michaels Posts: 29,133 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    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)
    I think....
  • carslet
    carslet Posts: 360 Forumite
    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
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    michaels wrote: »
    CPI 34.8%? (more chars)

    Source: BoE inflation calculator, prolly using RPI.
  • wymondham
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    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
    wymondham Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic Mortgage-free Glee!
    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?
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