Find out how much the vendors actually paid for their house....

boltonangel

i don`t know if you are already aware of this but by clicking on the following link you can see how much people actually paid for their houses, this can be useful when placing offers on houses. plus it's great for looking how much your neighbours paid for their houses!!!

https://www.nethouseprices.com :A

Robert_Sterling_3

I like this site very much.
I also like rightmove.co.uk

The combination of these two sites gives you a clue to the current value of your own property.

There is a third site which for a given post code tells you what council tax band each house is in.

nearlyrich

You can only find prices from 2000 onwards and to be honest it's not really relevant, for instance we bought our house in 1992 for £67K it's worth about £300k now. If you were put an offer in for £80k because you knew how much we paid do you think we would accept your offer? I think not because if we were to move we would need the equity to buy the new house.

GDB2222

nearlyrich wrote:

You can only find prices from 2000 onwards and to be honest it's not really relevant, for instance we bought our house in 1992 for £67K it's worth about £300k now.

That's extremely interesting. You seem to have made a good buy. According to the Halifax ( http://www.hbosplc.com/economy/HousePriceCalculator.asp ):


House price calculator

An average house, in the North West region valued at £67000 in 1992 Q2 would be worth £156159 in 2005 Q3.

A change of 133.1 percent.

How did you do so much better?

nearlyrich

We were definately in the right place at the right time, the area where we live has gone up above average due to several factors. I think the biggest influence is the fact that we are 20 miles from Manchester on a really good bus route so lots of commuters etc. Sadly many locals can't afford to buy a house around here now as the local economy is based on low paid jobs.

boltonangel

nearlyrich wrote:

You can only find prices from 2000 onwards and to be honest it's not really relevant, for instance we bought our house in 1992 for £67K it's worth about £300k now. If you were put an offer in for £80k because you knew how much we paid do you think we would accept your offer? I think not because if we were to move we would need the equity to buy the new house.

i was just trying to be of assistance, didnt think there were any houses worth £300k in east lancs!! :rolleyes:

nearlyrich

Sorry I wasn't having a go just putting in another view, I think you will find that there are lots of properties worth well over £300k in East Lancashire, two bed terraced go for over £100k round here.

I just tried the HBOS calculator on some other properties around here, a house I bought for £8500 in 1992 is alledgedly worth £47485 now, I sold in June 1993 for £38500 the same couple still own it. One of the houses next door sold for £78950 in June 2003 and the other for £155,000 in June 2004

theGrinch

https://www.nethouseprices.com et al are useful for an indication but you should not rely on them per se. You need other sources.

All it tells you is an address, a date and a figure. It does not go on to tell you the circumstances of a sale, nor how the offer was structured. There are sales on there clearly below market value between connected parties. Further there are developers out there using a range of instruments to structure an offer and not just "cash" and therefore their structure is not accurately reflected.

Tinker_belle_2

Someone mentioned there was a site where you could find out which council tax band you are in. Could someone if possible post the link please.

Thanks

Lemoncurd

Tinker_belle wrote:

Someone mentioned there was a site where you could find out which council tax band you are in. Could someone if possible post the link please.

Thanks

http://www.voa.gov.uk/council_tax/

Doozergirl

GDB2222 wrote:

That's extremely interesting. You seem to have made a good buy. According to the Halifax ( http://www.hbosplc.com/economy/HousePriceCalculator.asp ):

An average house, in the North West region valued at £67000 in 1992 Q2 would be worth £156159 in 2005 Q3.

A change of 133.1 percent.

How did you do so much better?

I though this was a good little tool but after putting in details for 3 properties that we've bought and sold, only one came anywhere near the right price. Apparantly, my first property bought in Q4 1999 is only worth 10% more than I sold it for in Q3 2001 which is way off, having seen it just sold on for twice that. Even by Q3 2003 it apparantly still hadn't made it to my sale price, so it's not factoring in any price drops. Seems the tool is far too average to be of any help.