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Overpriced shared ownership house?
Comments
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Seems reasonable. Just bad timing.
[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1>=1&a=Medway&s=01 April 2008&e=01 March 2009&t=1[/IMG]Act in haste, repent at leisure.
dunstonh wrote:Its a serious financial transaction and one of the biggest things you will ever buy. So, stop treating it like buying an ipod.0 -
Look on the bright side, at least you only have shared ownership of your negative equity.0
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House prices can go down as well as up. Shame they never told you that.burterelly wrote: »How have Moat Housing charged me £200,000 and my neighbours only £160,000?
How do you know how much your neighbours paid for their property? Do you know if they bought the same percentage share of the property as you did?poppy100 -
:eek:
That is some graph. Other ones posted recently have at least shown some slight upturns.0 -
Using nationwide.co.uk/hpi calculator, assuming valuation dates of 2nd quarter for your sale and 4th quarter for your neighbour's, prices dropped 12%. That's a broad average, so it is possible that within your particular type of property, area, road, etc, that it could account for the 20% difference.burterelly wrote: »me4, i bought 07/2008, neighbour 01/2009,
thanks for all your replies,
B
There are many other calculators, indexes etc that you could compare... but just from that one you can see it's possible that both valuations were correct on the day they were done.[FONT=Verdana, Arial, Helvetica, sans-serif]A property located in Outer Metropolitan which was valued at £200000 in Q2 of 2008, would be worth approximately £175741 in Q4 of 2008. [/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]This is equivalent to a change of -12.13%.[/FONT]0
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