Please help me value a house I am looking at.

mr_fishbulb

The property is a 3 bedroom house in Surrey. It was bought in mid 2007 for £300K

Looking at the LandRegistry site for HPI between mid 2007 and Jan 2010, it says the index for Surrey has dropped 5%.

Also Zoopla prices it the same for the post code - 5% drop.

Since they moved in, the vendors have put in double glazing through-out but have performed no other structural enhancements.

What other variables can I use to try and get a figure in my head?

Many thanks

Eric1

I'd look at other, more recent sales of similar houses in the same/nearby postcodes

Cannon_Fodder

On the Land Registry graph, July 2007 looks like 310 on the index. Today shows as 295. Which is the -5% you mention.

The vendors might, reasonably, say the price paid was set in April and completion in mid-2007 was just the paperwork being slow. Which might mean it was 300 on the index. Around -1.5%...

Any nearby sold prices, more recently?


[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1&gt=1&a=Surrey&s=01 January 2007&e=01 January 2010&t=1[/IMG]

mr_fishbulb

Thanks both - it's in a small town so there aren't many other sold prices to compare it with.

A 3 bed new build went for £332K in January. A 4 bed house, similar age and style across the road went for £400K mid 2009. Trying to find more.

PasturesNew

It still might be over-priced !!!!!! though

mr_fishbulb

PasturesNew wrote: »

It still might be over-priced !!!!!! though

I know. Have to take into account that no matter how much people research the market, there will always be someone who doesn't and if they offer a higher price and it gets accepted, then that becomes the last sold price.

Just trying to protect myself from a valuation survey coming in less than offer.

Found a detached bungalow down a road off the one this house is on. Went for £280K last October.

Not having much luck finding comparisons - I can see lots of prices, but difficult getting number of bedrooms etc.