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  • Buy-to-Let

    When will your house be worth £1m?

    Zoopla claims to be able to do this.

    Not sure how I feel about it!

    https://million-pound-calculator.zoopla.co.uk/

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    Just picked one of mine, worked backwards and Zoopla is clearly predicting over 4%pa growth for the foreseeable.  That's a relief then.  I wasn't sure how much houses were going to be going up by each year in ten years time. I wonder why a tool like this has been released.


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    In 1960 a Guildford new build 3 bed semi was £2500 - a bit over 10% cagr

    Today £500,000 - up by factor of 200 in 57 yrs

    10% cagr doubles in 7 yrs - so potentially £1 million for a Home Counties semi in 7 yrs time (doubt it though)

    More recently parts of central London have seen price rises of 10 fold in past 20 yrs - a bit over 15% cagr.

    The Pound Sterling does not buy what it used to

    In 1938 a small 3 bed terrace in SW6 was £400 brand new and now retails at £1.25 million - again a bit over 10% cagr over 80 yrs



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     Its a good bit of fun

    I reckon my great great great grandchildren will be billionaires

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    Jonathan Clarke. http://www.buytoletmk.com

    Ha ha.   Yes and that will buy a bag of chips in 200 years.

    Unfortunately the currency will be reset long before then.

    I used to love the Turkish Lira years ago, flashing 50k notes about (think that was about £4).

    The spoilsports reset the currency and its far less fun so I can’t get a 20k beer anymore.

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    I know one Thing The days of great growth in the UK are over

    Property is not going to be the asset it has been for 30 years

    unless we get rampant inflation

    If we do have high levels of Inflation we will have high interest rates

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Good find Dom!

    I think it's jolly good fun - and potentially even grounds for setting a target:

    So if I live long enough (must keep up running!) then all my houses could be worth £1 million each - that's pretty cool.

    Angela

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    Author of The Complete Guide to Property Strategies

    "It is the small decisions you and I make every day that shape our destiny" Anthony Robbins

    So what would you currently get for a million in your area - here are a few from Essex

    https://www.rightmove.co.uk/property-for-...eSSTC=true

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    Hi Essex,

    You can look up on rightmove for Horsham, there's not much available.  I would say by looking at those in Essex, values around here are very similar.  Some of the £1 million houses in  sought after streets, with a bit of character and a decent garden, are surprisingly ordinary homes.

    But it's still strange to think that our humble terraced houses in humble areas of Crawley could one day be worth that much!

    Angela

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    Author of The Complete Guide to Property Strategies

    "It is the small decisions you and I make every day that shape our destiny" Anthony Robbins

    I was reading that the House used in the Good Life TV program is now over 1m

    Barbara and Tom would be happy lol

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    Yes, I'm not surprised by that DL, it's a good area. 

    My parents lived very near there at one time, in Moor Park.

    The Good Life, hey:-)



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    Author of The Complete Guide to Property Strategies

    "It is the small decisions you and I make every day that shape our destiny" Anthony Robbins