House Valuation Q for Homeowners

Generali

How do you think the value of your house has changed since the national peak in valuations a year or so ago? I'd be interested to know why you think the way that you do too.

ad9898_3

It has fallen in value by the same amount as the national average.

A good poll Gen, we should see some interesting results, similar houses to what I'm living in at the moment, when they actually do sell one are around about 19% down, however there is on just around the corner from me that's 28% down at the min, without a sniff of an offer.

This is about 2003 prices for this area, once we hit 2001, I will buy, maybe even that one if it's still up, detached, no mortgage = bliss.

mitchaa

It has risen in value/fallen by less than average.

Bit of a strange choice of poll there Generali.

There is no distinction between risen in value and fallen less than the 20% average?

I've had to choose the 1st option, as my home has lost around 10% of it's peak value according to the various indexes.

mitchaa

It has risen in value/fallen by less than average.

ad9898 wrote: »

A good poll Gen, we should see some interesting results, similar houses to what I'm living in at the moment, when they actually do sell one are around about 19% down, however there is on just around the corner from me that's 28% down at the min, without a sniff of an offer.

This is about 2003 prices for this area, once we hit 2001, I will buy, maybe even that one if it's still up, detached, no mortgage = bliss.

So you would be voting for the 1st option then if you were a homeowner? 19% down is less than the 21% average

Really2

It has risen in value/fallen by less than average.

I know mine as not fallen buy as much as the national average.
Not one house (new builds) as sold on our road (of an equiverlent size) for less than we purchased ours for. Most have gone for £275K-£320K, we purchased for £250K in august.
The same house as ours off plan as just gone for £280K.
But perhaps knowing the builders as helped.;)

If I had not purchased with a massive discount I would say more than average as new builds always fall quicker initially.
(especially when some @ss gets one at a massive discount)

Generali

I'm trying to see if I can prove a modern economic/psychological theory as it goes. Just for fun.

whathavewedone

It has risen in value/fallen by less than average.

I have had to opt for "fallen than less than the national average" because prices where I live are currently 15% below peak - close to the average falls but not quite there.

This is on the basis of properties which have actually sold. Many houses for sale are still on for 2007 prices.

I think it's an odd poll really. It stands to reason that in some areas prices will have fallen more than 17.9% or whatever it stands at now and less in others. I believe Islington has actually risen?

Just seen that we are now at 19-20% down, not sure where I got 17.9 from. Anyway, 15% down where we live - although looking at the stats the only properties sold since last spring (when prices were actually higher here than in summer 07) are at the bottom of the market.

penguine

It has fallen in value by the same amount as the national average.

We had our flat valued in Jan 2008 as we were thinking of selling. The EA said if we wanted a quick sale to price it realistically at £180k.

We had it valued a few months ago in order to remortgage and it came in at £150k. So that's a drop of £30k in about a year or very roughly 15%.

Interestingly we had it valued in 2004 by 3 different EAs and the average of their prices comes in at about £150k so it seems we're down to 2004 prices, at least where we live.

Generali

Prices for different houses will change at different rates at different times. I'm interested to see what people think about the value of their house versus the average change in value. I have an opinion about what the outcome of the poll is going to be. I want to see if I'm right (and I'd rather save that opinion for a couple of days).

Dan:_4

It has falled in value by more than the national average.

Difficult one without a proper valuation (not much activity to compare with round my way). I know prices have been hit pretty hard round here [South East] and so therefore, I have choose 'More then the national average' purley because If I was to put my house on the market today, it would be for 25% less then I would have in 2007, just to ensure the sale.

ad9898_3

It has fallen in value by the same amount as the national average.

mitchaa wrote: »

So you would be voting for the 1st option then if you were a homeowner? 19% down is less than the 21% average

I'm taking the middle of the road average between Nationwide, Halifax and the LR, so give or take 19% is about right for this poll, however for other arguments, I will use the statistics that show the steepest fall, these are likely to change month on month.:D