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£1 Houses in Benwell


Guest Geordie_Paul
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Guest Geordie_Paul

Remember the houses that were sold for £1 in Benwell in 1999? Whey one of them has just been sold for £145,000 and the other four valued at £150,000! Now that's a canny profit.  tongue.gif

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Guest Geordie_Paul

Aye the council wanted to attract more families into the area, they only sold 5 of them like I think. Could be wrong though!

 

Was a good investment because the place has been cleaned up a lot now like! :thup:

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Still a rip-off. I remember laughing about it until someone pointed out the student on placement at our place lived about 2 streets away (Ladykirk Rd. iirc) - then I laughed harder.

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Still a rip-off. I remember laughing about it until someone pointed out the student on placement at our place lived about 2 streets away (Ladykirk Rd. iirc) - then I laughed harder.

 

Well the people who bought them are laughing all the way to the bank now!

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Still a rip-off. I remember laughing about it until someone pointed out the student on placement at our place lived about 2 streets away (Ladykirk Rd. iirc) - then I laughed harder.

 

Well the people who bought them are laughing all the way to the bank now!

Well I bought a flat in a nicer area at a similar time and made a far larger profit and didn't have to live in shitsville, so there  tongue.gif

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Didn't realise you had to live in a house after you bought it?

You don't but you pay capital gains tax on any profit when you sell if you don't. So I maximised my profit by living there bluecool.gif

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Didn't realise you had to live in a house after you bought it?

You don't but you pay capital gains tax on any profit when you sell if you don't. So I maximised my profit by living there bluecool.gif

 

And buy to let has higher capital requirements.

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Didn't realise you had to live in a house after you bought it?

You don't but you pay capital gains tax on any profit when you sell if you don't. So I maximised my profit by living there bluecool.gif

 

And buy to let has higher capital requirements.

It wasn't a conscious decision like. I could only afford one small mortgage at the time. I just got very lucky. I feel sorry for first-time buyers now. House prices have gone mental.

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  • 2 weeks later...

It's tragic that the word 'home' isn't thrown around anymore when looking for a roof over one's head. It's now only 'property' and 'investment'.

 

It's speculation, reckless lending (money supply is up 14% in the last year alone) and sentiment that has caused this - not supply and demand, immigrants, a strong economy etc, as most EA's and vested interests would like you to believe.

 

'Debt is real, house prices are just a matter of opinion'

 

 

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