After 15 years, only Bolton buyers have lost money

Dan83

I live in Knowsley, not by Huyton but it's all a poor/rough/crap area. I bought and lived in my house 4+ years ago, although the bank value has increased (the bank have valued it more when I have remortgaged, with out coming to see the house) I think I'd struggle to make any real money on it, after fee's ect, I'd expect to loose money.

westernpromise

carslet wrote: »

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.

BCR around 50% probably too. After 15 years of a 25 year mortgage you'd (guessing) still owe about half of it. Assuming the rent and the mortgage to have been about the same, you need the price to drop by half to break you even. Which is a pretty big ask on top of nil growth for the last 15 years.

westernpromise

wymondham wrote: »

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?

No idea but it's quite encouraging. I have always wanted to go there. I gather it's like Cornwall but subtropical. If it's cheap too, well, yippee! I suspect I'd get bored of the choice of restaurants quite quickly though.

westv

wymondham wrote: »

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?

Lies, damn lies and statistics seeing as most of Bolton appears to have done ok?

GunJack

cells wrote: »

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

You'd still need enough salary to get a big enough mortgage up here to buy, far harder on Northern/Welsh salaries to achieve. Cheaper absolute than down south? - yes, cheap? - relatively not necessarily.....