'Sell up in Mayfair and move to Mablethorpe'!
Published Date:
09 July 2008
By Gemma Gadd
MABLETHORPE has been mentioned in a national article on the country's housing slump – as the polar opposite on the financial property ladder to the richest parts of London.
The former financial Mail on Sunday editor Ben Laurance wrote the article entitled 'The housing slump is not so bad' for the website thisismoney.co.uk on Monday.
He said: “A boom in house prices may give homeowners the smug knowledge they own an asset whose value had risen. But how can that extra wealth be realised? One option is to trade down - to move from a big house to a small flat, for example. Or sell up in Mayfair and move to Mablethorpe. In either case, the profits of the property boom can be cashed in.”
He then went on to argue that unless homeowners wished to relocate to areas like the Lincolnshire coast, where housing is cheaper than the national average, there was little benefit to be had from the increase in their house price.
l How do you think Mablethorpe compares to Mayfair? Email gemma.gadd@jpress.co.uk
The full article contains 188 words and appears in Mablethorpe Leader newspaper.
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Last Updated:
08 July 2008 1:57 PM
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Source:
Mablethorpe Leader
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Location:
Louth
