Woman bought home 30 years ago for £70,000 - now it's worth a whopping six figure sum
28.07.2022 - 15:27
/ manchestereveningnews.co.uk
House prices have been on the rise for many years, but in the last six months alone, the cost of buying a home has soared across the UK. According to Rightmove, the average price of a property coming onto the market in July was £369,968, which is the sixth consecutive record high.
It is no secret that although house prices are climbing in Greater Manchester, London has always been and continues to be one of the most expensive places to live in the UK. Regardless of the borough or area where you buy, homes in the capital are constantly going up in value.
One woman who bought a property in the town of Walthamstow in London around 30 years ago now says that her home is worth a whopping six figure sum. Wendy, 70, initially bought her home for her and her daughter for £70,000 but it has gone up by a huge amount since then.
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Wendy told MyLondon : "I found out I was pregnant when I was living in another flat with a man so he bought my flat and I wanted to buy another house. I was living in Walthamstow off Blackhorse Road before so I then I wanted a place big enough for me and my baby."
Wendy got her property valued nine months ago and was told that her house is now worth around £650,000. She believes most houses on the road are worth around £750,000 to £800,000 because they've done a lot more work.
Like most young people, the property owner's son is renting near London but she has plans that her son will one day inherit her home. There is no denying that the cost of living and increase in house prices is crushing the dreams of some young people hoping to buy a property in London.
However, some, like Ben Selby, have