I found an old newspaper from the 70s in the chimney at my new place. The house prices are mindblowing. - ThreadSky

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rumman.bsky.social • 159 days ago

I found an old newspaper from the 70s in the chimney at my new place. The house prices are mindblowing.

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himal.bsky.social•159 days ago

Running the one in Harrow Weald for £14.5k in 1976 through inflation calculator. £94,964 adjusted for inflation in 2024.

https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator

himal.bsky.social•159 days ago

2 bed maisonette. So likely sell for quick Zoopla search. Go for £350-400k now. So that’s a quadrupling in value since 1976 and accounting for inflation.

christhecatsmum.bsky.social•158 days ago

That's the supply and demand affect.

himal.bsky.social•159 days ago

I guess property is a good investment.

mrl53.bsky.social•158 days ago

Can be.

himal.bsky.social•158 days ago

Finally about to do it myself.

mrl53.bsky.social•158 days ago

I’m kinda handy .
So we have always bought sound places, that need a facelift.
Budget for it .
Paint alone is expensive.

himal.bsky.social•159 days ago

£14,500 in 1976 invested in index funds with an average return of 5% would now be £150,818.41 with compounding interest. Knock the interest up to 7% and you get a better return than property price appreciation, £373,069.14.

himal.bsky.social•159 days ago

Not accounting for rental income of course. If you’d bought with a mortgage you could be worse off in interest payments. Interest rates in 1976 maxed at 15%. Early 80s and 90s also saw highs. A lot of money going on interest.

himal.bsky.social•159 days ago

https://www.bankofengland.co.uk/boeapps/database/Bank-Rate.asp

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