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A demonstration of ludicrous house prices...
tr3mor
Posts: 2,325 Forumite
Whist poking around Rightmove I came across a house in my village that is both for sale and to let.
Sale Price: £339,950
Rental PCM: £895
A perfect example of how overpriced houses are.
Sale Price: £339,950
Rental PCM: £895
A perfect example of how overpriced houses are.
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Comments
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Is Lynne a nice place? House looks a bit rubbish TBH.0
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Lymm is a lovely place. Very quaint. Definitely one of the more expensive areas around Manchester.0
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rubbishy? I wish I could live in it!!!!!!!!!!!!!!0
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Theres a similar one near me (also Cheshire, but not the nice leafy part) up for sale at around ~£280,000 or for rent at ~£650. I couldn't possibly justify buying a property and paying £1800pm for a mortgage when I can rent for just a third of that, it just doesn't make sense 0
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go on then Tremor, explain how it's overpriced??
surely come back in a month if it still isn't sold, then it's overpriced.
but just cos a house's rental income wouldn't cover the mortgage (assuming 90% LTV for instance) doesn't make the house overpriced. it could just mean that the rental incomes are underpriced
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It's been on the market for months already.
And the house's rental would only just cover an IO mortgage at 50% LTV. 0 -
go on then Tremor, explain how it's overpriced??
surely come back in a month if it still isn't sold, then it's overpriced.
but just cos a house's rental income wouldn't cover the mortgage (assuming 90% LTV for instance) doesn't make the house overpriced. it could just mean that the rental incomes are underpriced
Yes...as I overheard the sales person on a new development say to a potential BTLer recently, "its all about the capital growth" these days :rotfl:0 -
there you go then tremor it obviously is overpriced then if it's not selling.
but a house's selling price doesn't have to reflect the rental price though.
but anyway going back to the point i'm sure you were trying to make, yes everybody knows that house prices are ridiculously high
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when l when i was a wee lad, we had SM: TV with Ant, Dec & Cat ahh good times!
ah sorry drifted away there;)0
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