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Where are house prices today compared with 2006?

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Comments

  • Slimgimli
    Slimgimli Posts: 53 Forumite
    Ok thanks anyway!:D
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Name Dropper First Anniversary Photogenic First Post
    brit1234 wrote: »
    The location is important in reference to the price.

    Correct. And price performance varies widely even within the same town or county, let alone region.
    In central London prices are close to peak 2007, just a little short.

    In some parts, above previous peak, in others a bit below, but there or thereabouts..
    In the South East they are around 2006 or a bit lower. I think Devon and Cornwall are similar due to holiday homes bought by Londoners.

    Late 2006 or early 2007 in some towns. Just a few percent off peak in most places.
    Midlands and North 2004-2005.

    2005 on average, a fair bit down from peak, but there are pockets where prices are still higher, and some much lower. Local research is important.
    Scotland about 2006

    Scotland already at a new peak last year, and allowing for seasonality is higher this year again.

    Current Scotland wide average price as of May is £154,000, in May 2010 it was £151,000, and in May 2007 it was just £147,000.

    http://www.ros.gov.uk/professional/eservices/land_property_data/lpd_stats.html

    Granted Scotland still has some areas well down from 2007 prices, but those are usually the dumps and you wouldn't want to live there.
    Northern Ireland has been fallen the most below 2004.

    NI has fallen the most..... But prices also rose by over 100% in just the last couple of years before the crash there. (versus just 30% in the mainland UK)
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • GRM
    GRM Posts: 645 Forumite
    First Anniversary First Post Combo Breaker
    Great Glen prices are about +10% above 2006 levels - the grammar school effect.
  • hcb42
    hcb42 Posts: 5,962 Forumite
    Region is way to wide to look at what is actually happening, I live in East midlands too, and in a small village, prices are holding up well.
  • Slimgimli
    Slimgimli Posts: 53 Forumite
    edited 31 July 2011 at 9:51PM
    GRM...... So if you are saying that , would you say if it sold for £146000 in 2006 a fair price today would be £150,000 ish? Or as it is a smallish village( with a new school!) that I would have to be looking at a bit more? It's a small terrace cottage with one double and a single bedroom, shared access,so not a ' family home ' so really FTB or like us kids left home and downsizing!
    Thanks for all your help........
    Btw just seen on right move that miller homes are selling 3 bed semi's just down the road for £179,950!! If only we wanted a NEW house lol!!
  • GRM
    GRM Posts: 645 Forumite
    First Anniversary First Post Combo Breaker
    Glen has always been relatively expensive when compared to similar villages - always been very popular too.

    What I (or others) think is 'fair' is immaterial IMO - checking a few friends' and neighbours' homes who have sold recently my +10% estimate looks to be about right so £169,950 aiming for £160ish doesn't sound a million miles out.

    PS Those Millar houses are *really, really* small and IIRC there is going to be quite a bit of social housing on that estate.
  • Slimgimli
    Slimgimli Posts: 53 Forumite
    Thanks for that! Have just left feedback with the agent, who said if we were interested to just make an offer and see! Been up for 3 months now so wonder whether the vender might be thinking of changing agents?? Have asked to be informed if an offer goes in.
    We are in process of changing agents ourselves so going to see how we get on first as unless we sell ours there's no point.........just LOVE the cottage and WANT it lol.
    As for the Miller homes, would never buy another new house, my heart obviously lies in older properties, been in a new one for 4 years and still doesn't feel like home, hence the move!
    We are up against the new David Wilson homes and Barratts tho, shame is people don't realise the trouble they are having with all the social housing up there!!!! Too late once you move in..........!
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