Tip #78 – London Property Depreciation

UK Metro sign with "Washington Brown"

In 1990 I was at a cross-road in my life – I wasn’t sure if I wanted to finish my Uni degree in Construction Economics…

So like all good young Aussies – I took off and went backpacking.

During this period, I sold “Luncheon Vouchers” via telesales, worked in factories and stacked shelves.

One day I went to work and at the time I was earning about £2.60 per hour – I did the math and calculated that it was more expensive to have lunch away from home & get the train to work compared to what I was making during the day!

That’s when I decided it was time to come home – and having those jobs made me realise that I needed to finish uni and start my career.

So… what has this got to do with London Property Depreciation?

Well – We started doing depreciation schedules in London about 3 years ago – I never thought we would do so many reports in the UK. I thought we would do a lot more in the US as opposed to the UK. But lo and behold – we prepare more depreciation schedules in the UK now than we do in all other parts of the world combined (excluding Australia of course).

That makes this little Aussie backpacker smile. I’m finally getting to pay off my backpacking days!