Still possible to buy refurb then sell for profit ?

shirlgirl2004

genau wrote: »

It's surprising that property is showing signs of increase so soon. All types of things can add value such as side extensions and turning a large garden into a building plot as well

There's all the investment that goes with HS2 and the general northern powerhouse that is fuelling demand. Manchester house prices are running at about 6.5% increase yoy from memory. Leeds, Crewe etc are all about the same.

cloo

Gotta say, I wouldn't do it at the moment. Not in London certainly, but may be worth in in places like Manchester or Brum. Otherwise margins would be slim at best as things just aren't climbing fast.

shirlgirl2004

genau wrote: »

Maybe that's the best place to buy property in then,Manchester/Leeds and that area. Definitely nothing is increasing in price where I live which is not far from London but not in London. Everything's going down apparently

Also part of the attraction is that people can have a real chance of buying a house on an ordinary average income. Whereas it's more unobtainable down South

It's a correction in the market for London etc. I think you're right flipping in London etc would be a bad move at the moment but in 6 months or so it'll take off again.

Crashy_Time

http://www.cityam.com/287740/city-house-prices-plummet-london-market-continues-cool

jimbog

shirlgirl2004 wrote: »

You don't need large projects to make decent money, a series of smaller projects will give a decent return.
From the website I linked to earlier.
Newchurch Road
£25,800 Purchase Price

£12,000 Refurbishment Cost

£3,073 Buying/Selling Legals + Estate Agent Fees

£40,873 Total Expenditure

£70,000 Sold Price

Individual concerned has several projects on the go at any one time. Some he sells some he rents out so as to minimise capital gains in a year.

I think he's playing with you shirlgirl2004 this is the rightmove listing for 179 Newchurch Road, Bacup, Lancashire OL13 0TS. 6 months?

03 Nov 2017 Terraced, Leasehold £70,000 Land Registry
29 Apr 2005 Terraced, Leasehold £48,000 Land Registry
13 Aug 2004 Terraced, Leasehold £45,000 Land Registry
16 Dec 2002 Terraced, Leasehold £26,000 Land Registry
21 May 1998 Terraced, Leasehold £11,000

jimbog

Crashy_Time wrote: »

http://www.cityam.com/287740/city-house-prices-plummet-london-market-continues-cool

From your link:
Across the UK, the housing market showed more signs of resilience, with the annual house price rate in May rising from 2.1 per cent to 2.2 per cent

AdrianC

jimbog wrote: »

I think he's playing with you shirlgirl2004 this is the rightmove listing for 179 Newchurch Road, Bacup, Lancashire OL13 0TS. 6 months?

03 Nov 2017 Terraced, Leasehold £70,000 Land Registry
29 Apr 2005 Terraced, Leasehold £48,000 Land Registry
13 Aug 2004 Terraced, Leasehold £45,000 Land Registry
16 Dec 2002 Terraced, Leasehold £26,000 Land Registry
21 May 1998 Terraced, Leasehold £11,000

TBF, Repos and some other sales don't show on LR historic sales, do they?

Crashy_Time

shirlgirl2004 wrote: »

It's a correction in the market for London etc. I think you're right flipping in London etc would be a bad move at the moment but in 6 months or so it'll take off again.

Are you being serious?