Land Registry sold prices during the spring bounce

themanbearpig

Has anyone else been checking how much people have paid for houses during the spring period?

Houses that sold around April/May have started to turn up now on the land registry, and quite frankly, im shocked at some of the prices people have paid. This was about the same time activity picked up seasonally and I think the HIP rules changed.

A few have sold for reasonable prices, yet still far from what now seem like the bargains of Feb/Mar (10-15% off peak). But most have sold for pretty close to peak prices (maybe 2-5% off max).


A house we tentatively offered £111,850 for, (which she was close to accepting) in April, with a massively overpriced asking price of £160,000 shows up as sold for £145,000 in May! It wouldn't have even sold for that much at peak!
The poor people that paid £145k must have been cash buyers because a bank would never lend that much for a house like that!

I'm expecting to see sold prices get even sillier as the new data arrives!

Sandra2

I've seen houses that we just missed out on - one that was on at £365k in oct, then £345k in Jan and sold for £325k, and another that was on at £350k and sold for £325k. The house we've just bought we got for £50k under original asking price but it'd been on the market since october.

LandyAndy

As many people here love to point out - 'A house is worth what someone will pay for it'.;):rolleyes::rotfl:

londonsarah

we have bid on a repo, according to the land registry it sold for 200k in 2007, we have just had a bid of 70k accepted. feel bad on the person who has lost it, but how could they have paid that much?

poppysarah

I've seen some nice low prices too. But still one house near me sold for 215k. It's on a busy road, very small garden so I can only assume someone with more money than sense has bought it. It's not even a nice house or anything special.