How to measure if a house price is accurate

max1234_2

Hi all,

I am currently looking at buying a house. It is a higher price range to what I am used to and so I am quite unclear on how to judge if the price is right.

Is there a website or anything I can use to calculate what the house will have been worth previously? i.e. if I can work out what they paid for it, then I should hopefully be able to plot a rough estimate of what it should be worth in todays market?

For figure sake, I am looking at a house which is on the market at £350. How much roughly would this be a year a go, 2 years a go, in 2000 etc.

Let me know if this doesn't make sense and I can claify. Cheers.

Robert_Sterling_3

www.nethouseprices.co.uk
www.mouseprices.co.uk
www.rightmove.co.uk
And a couple more whose names I have forgotten I think one might be zoopla.

I think that I am allowed to put up these website names.
If you know otherwise tell me and I will edit them out.

I know the first one is Ok because I put it up and it became a sticky with over 100,000 viewings.

Put in the Post Code of the house you are interested in.

Millburn_farm

Zoopla is one, it' more accurate with postcode and square footage, and "improvement" dates

PasturesNew

Zoopla is pants.

There's no way of knowing in what state the current owner bought a house, nor how much work they've done to it. They might have extended it, or stuck a conservatory on, etc etc.

A house is worth less than is on the price tag though ...

Robert_Sterling_3

Nevertheless it is a start.

Millburn_farm

Zoopla made a huge difference on the price of the house I own & rent out; my particular house being unusually large on it's particular street; (most are tiny shower room 1 bed places) and having had quite expensive works done on it recently, when those differences were factored in

poppysarah

You could measure floor space and features with others that you know the recent sold price of.

ILW

max1234 wrote: »

Hi all,

I am currently looking at buying a house. It is a higher price range to what I am used to and so I am quite unclear on how to judge if the price is right.

Is there a website or anything I can use to calculate what the house will have been worth previously? i.e. if I can work out what they paid for it, then I should hopefully be able to plot a rough estimate of what it should be worth in todays market?

For figure sake, I am looking at a house which is on the market at £350. How much roughly would this be a year a go, 2 years a go, in 2000 etc.

Let me know if this doesn't make sense and I can claify. Cheers.

You can check all you like, but in the end it is worth what someone will pay AND what someone is prepared to sell at.

poppysarah

http://www.rightmove.co.uk/property-for-sale/property-10842630.html
139k

same road but with garden and drive for 5k less
http://www.rightmove.co.uk/property-for-sale/property-24581843.html
(actually been sale for a lot longer than property bee says)

How do you know they're worth what they're asking?
Well you don't. You've got to go and look and decide if one house is nicer than the other even though one has a massive garden and a drive for less....

The value depends on if you've got a car, how far from the bus stop they are, whether you need a drive, whether you want a big garden ...

If you look at previous sale prices for the road the terrace is still at the peak price .. so won't be worth that now - if it ever was.

They will be worth what they get for them - and round here some very overpriced places have stopped marketing their properties because no one wants to view them... EAs aren't being brave enough yet to tell them to cut prices if they really want to sell

chickmug

ILW wrote: »

You can check all you like, but in the end it is worth what someone will pay AND what someone is prepared to sell at.

How very true and you just have to watch the TV shows where three agents give a valuation to find they can vary by big amounts so what chance does the layman strand.

Two links below which I know I used to use as well as other agents.

http://www.hbosplc.com/economy/housepricecalculator.asp
http://www.nationwide.co.uk/hpi/calculator.asp

besonders1

A more reliable way to check if the prices is accurate is how long its been on the market for. If there are no offers or viewings then the asking price is set too high.