House documents

Dave Davenport

Legendary Member
Location
Hampshire
I've just been looking through the pack of documents we received relating to our house after paying off the morgage.
The land comprising of 50 16'x157' plots was bought by a builder in 1909 for £3,480, part of the conditions of sale were that no building could be used as an alehouse, brewhouse, ciderhouse or brothel. Our house was sold for £375 in 1927 and stayed in the same ownership untill 1968 when it was sold for £2,500. The next time it was sold was 1992 and it had jumped to £56,000, we bought it in '97 for £59,950.
 

ianrauk

Tattooed Beat Messiah
My house was originally sold, built from new in 1958 at £2300. (£300 extra due to being end of terrace) I bought it 4 years ago at £250,000 :wacko:
 

rich p

ridiculous old lush
Location
Brighton
I'm surprised you could buy a house in 1997 for £60K Dave. You couldn't get a 1 bed flat in Brighton for that IIRC!
 

ChrisKH

Veteran
Location
Essex
Dave Davenport said:
I've just been looking through the pack of documents we received relating to our house after paying off the morgage.
The land comprising of 50 16'x157' plots was bought by a builder in 1909 for £3,480, part of the conditions of sale were that no building could be used as an alehouse, brewhouse, ciderhouse or brothel. Our house was sold for £375 in 1927 and stayed in the same ownership untill 1968 when it was sold for £2,500. The next time it was sold was 1992 and it had jumped to £56,000, we bought it in '97 for £59,950.
Blimey, well cheap even in 1997.

My current house I bought for a little over £200,000 eight years ago and it would now sell for double that value. From memory the original house on that plot in the 1950's cost something like £3,300.
 
OP
Dave Davenport

Dave Davenport

Legendary Member
Location
Hampshire
It needed considerable 'up-dating' when we bought it. All the houses around us were built for the thousands of people coming to work at the nearby railway works which opened in about 1900 (which is now all but gone), the road we're in was for the foremen and the houses are a pretty decent size (we're a bit posh don't you know). It would probably sell for about £190k now, if it was 8 miles up the road in Winchester it would be nearer £400k.
 

swee'pea99

Legendary Member
There's a whole load of West Indians living the life of Riley back in Jamaica or wherever...came over in the '50s, got a job on the buses, bought a massive pile in Brixton for £1200, sold out in '93 for £750,000 and took the dosh back 'home'. Imagine what that kind of money gets you back in the islands! A comfortable retirement, let's say...
 

ASC1951

Guru
Location
Yorkshire
swee said:
For another way at looking at those figures - they put their £1200 in a savings account and half a century later in real terms it had dropped to ... £65.

That's 50 years of politicians stealing from us by evading financial reality through inflation.
 
Dave Davenport said:
It needed considerable 'up-dating' when we bought it. All the houses around us were built for the thousands of people coming to work at the nearby railway works which opened in about 1900 (which is now all but gone), the road we're in was for the foremen and the houses are a pretty decent size (we're a bit posh don't you know). It would probably sell for about £190k now, if it was 8 miles up the road in Winchester it would be nearer £400k.
Hmm! That 'll be Eastleigh then.
 

swee'pea99

Legendary Member
ASC1951 said:
For another way at looking at those figures - they put their £1200 in a savings account and half a century later in real terms it had dropped to ... £65.

That's 50 years of politicians stealing from us by evading financial reality through inflation.
Well, that's sho' nuff 'another way of looking at those figures'. Um...how exactly do you get to

£750,000 = 'in real terms', £65.
 

vernon

Harder than Ronnie Pickering
Location
Meanwood, Leeds
[quote name='swee'pea99']Well, that's sho' nuff 'another way of looking at those figures'. Um...how exactly do you get to

£750,000 = 'in real terms', £65.[/QUOTE]

ASC1951 never attempted to equate £750,000 to £65

He said that had the £1200 pounds been put into a bank account for the same duration as house ownership its spending power would have been £65 i.e. inflation outstripped the interest rates by a considerable margin.
 
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