House Prices 2005 vs 2009

reggie_lampert

Hello, I hope this is the right place for this post!

I'd like to know how house prices in 2005 compare to 2009 - particularly for the London/South East.

As I mentioned in another post on here the houses in the area where I'd like to move don't appear to have dropped their prices at all. From what some (more honest) estate agents say it's the owners who are refusing to acknowledge that their homes aren't worth what they were in 2007/8. A lot of these houses have been on the market for yonks - some well over a year.

A couple of the houses I'm interested in last sold in 2005 so I'd like to know how much they should be worth now (if the house was the same i.e. no major works).

So does anyone have an idea of say if a house was worth X in Feb 2005 what it would be worth now in Feb 2009?

Any advice will be gratefully accepted!

reggie;)

avantra

http://www.ourproperty.co.uk/adv-search.html

Dan:_4

The answer to your question is simple: In 2005 house prices were higher than 2009.

Where abouts in the South East are you looking? Im from Crawley nr Gatwick Airport and my house is currently at about 2003 levels.

fc123

Which part of S London?

Mine is already at early 2004...however I am not trying to sell it so don't know what it is really worth to someone. I base that on land registry of something comparable that sold recently.
Nearby, a house sold 4 months back (~largeish plot for area, 4 beds detached for £250k) and I am sure it would have been up for around £380k at peak. It was probate sale.

If I look on RM, there are properties that have been on for ages, are not selling, have been reduced but are still priced way too high.

piggeh

Get property bee and look on rightmove - some have dropped prices quite considerably whereas others are still quite stubborn!

House prices around here (Maidstone) have hardly dropped at all although there's a couple that seem to be increasingly desperate and keep lopping chunks off the asking price.

brit1234

Dan: wrote: »

The answer to your question is simple: In 2005 house prices were higher than 2009.

Hi, I can confirm here in West London asking prices are down to 2003 levels after going through with Property Bee. So actual selling prices must be lower.

I can actually afford somewhere with my large deposit and not have to rely on a Northern Rock 90% mortgage. However I won't buy a prices have a long way to fall yet.

Dan:_4

brit1234 wrote: »

Hi, I can confirm here in West London asking prices are down to 2003 levels after going through with Property Bee. So actual selling prices must be lower.

I can actually afford somewhere with my large deposit and not have to rely on a Northern Rock 90% mortgage. However I won't buy a prices have a long way to fall yet.

Hi Brit.

When are you going to buy?

mr.broderick

Dan: wrote: »

Hi Brit.

When are you going to buy?

Like the rest ie carolt, !!!!!! who have bought recently, he'll just disappear.

fc123

I know this are well (don't live anywhere near now) and I noticed these 2 houses in same St. One has a bigger garden, but I remember the area and they seem pretty on a par to me. What is causing the huge diff in asking price? I've no idea.

1; OIEO £200k http://www.rightmove.co.uk/property-for-sale/property-18116089.html?backToListURL=%2Fuser%2Fshortlist.html%3Ftype%3DBUYING

2; £320k. http://www.rightmove.co.uk/property-for-sale/property-17224196.html?backToListURL=%2Fuser%2Fshortlist.html%3Ftype%3DBUYING


Also another St I know well. One up for £449k and another a few doors down, very similar up for £289,995 but bigger plot with garage.


I am not buying a house at this point, but we were FTB in the last crash. There were big differences in asking prices.....but we were desperate at the time, made a low offer that fitted our budget and bought in '90.
Prices continued to fall but it was the right thing to do at that time for us, and we ended up selling for same price 6 years later but after fully renovating it.

Dan:_4

mr.broderick wrote: »

Like the rest ie carolt, !!!!!! who have bought recently, he'll just disappear.

I've got !!!!!! a house warming gift but he aint even checked his PMs

brit1234

Dan: wrote: »

Hi Brit.

When are you going to buy?

About Christmas, the higher the deposit the better mortgage rate. Also I'll be able to get more for my money then. Aiming for a small 2 bed terrace as a ftb.