How much have house prices increased since Feb 09

jmt · 27 July 2010 at 2:13PM

I am/have been looking for a property for quite a while and have just seen this listed on Rightmove. Before I make an appointment to see it, I would be interested to know how much you all think house prices have risen since early 2009. Mouseprice shows vendors bought new for £141,995 and it is now listed for £159,950.

http://www.rightmove.co.uk/property-for-sale/property-26950102.html

Now changed to http://www.rightmove.co.uk/property-for-sale/property-26979835.html thanks Cannon Fodder

vicshippers · 27 July 2010 at 3:29PM

I think you're asking the question the wrong way around. If you're trying to see whether the house is worth the asking price then you need to look at other houses of a similar type in the same area.

People could tell you that house prices had risen 800% since Feb...but that might only be in their street - no-one can tell you what the market in your area is like (unless you're lucky enough to find someone that's been through the process locally and recently)!

Cannon_Fodder · 27 July 2010 at 3:33PM

Around 2.5%.

[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1&gt=1&a=Northamptonshire&s=01 January 2009&e=01 May 2010&t=1[/IMG]

jmt · 27 July 2010 at 3:44PM

vicshippers wrote: »

I think you're asking the question the wrong way around. If you're trying to see whether the house is worth the asking price then you need to look at other houses of a similar type in the same area.

People could tell you that house prices had risen 800% since Feb...but that might only be in their street - no-one can tell you what the market in your area is like (unless you're lucky enough to find someone that's been through the process locally and recently)!

Thanks for your comments, but it is very difficult to tell as they are all new build and this appears to be one of the first resale 3 beds on this part of the development. There is another 3 bed on the same development (approx 8 years old and larger on for £157,500 and still can't find a buyer) where as this is only 18 months old.

Cannon_Fodder wrote: »

Around 2.5%.

[IMG]http://www1.landregistry.gov.uk/houseprices/housepriceindex/report/default.asp?g=1&gt=1&a=Northamptonshire&s=01 January 2009&e=01 May 2010&t=1[/IMG]

Many thanks, this is just what I was hoping for. The way I see it, a 2.5% increase, but at least the same in loss as it has lost the 'new' premium. I think I'll watch it for a while

Cannon_Fodder · 27 July 2010 at 3:49PM

Go and have a look to gauge their keenness, as well as check you like it - and that there's nothing wrong that has led to them moving out within 18 months...

Then, if you really want it, go in low. It says "vendors have found", so someone who is ready to go, might get quite a bit off.

TOBRUK · 27 July 2010 at 4:04PM

It's difficult to gauge with 'new build' and it depends on the quality eg has it got 'granite worktops' in kitchen, what sort of appliances does it have, has it got 10yr warranty etc.

With prices 'going up' question, I have found during the past 2-3 weeks many properties are being reduced - some by £20,000!

I have my property up for sale and am hoping to move 100 miles away. I have been watching properties here as well as properties in area I want to move to and the story is the same.

I feel that prices will go down again. I read one report that there are 25% more houses on the market since April! However, no one really knows.

Another thing I've found is that there is no consistancy in pricing - in the same area looking at similar houses, I saw one real dump going for more than one immaculate house which had more to offer - in the same street!

Riq · 27 July 2010 at 4:09PM

No idea but I like the bathroom mat and towel colours.

TOBRUK · 27 July 2010 at 5:02PM

The trouble is that some think that whenever they bought a property that the value will have gone up by the time they sell! However, everone has a reason for selling and some are desperate to sell. Go and see it and ask their reason for selling.

Do you know if the fields behind are likely to be sold at some point to a developer? You may find that planning has been given on that land - go and ask the farmer who owns it.

What are prices like for 3 bedroom houses in the surrounding area, say 5 mile radius?

bobbadog · 28 July 2010 at 7:09AM

I like Mawsley, but I'm put off by it by the rumours of a wind farm being built there on the farmland. I'm all for wind energy, but its too near a residential area for my liking. My gut feeling is if people are selling after only 18 months (and I don't even think Mawsley, as a new build village, has all its ammenities yet) then these plans are still rumoured. There was a 'stop the great cransley wind farm' website in action campaigning against this, but its been taking down now, so perhaps my fears are misguided, but as it's a perfect place for such an energy farm, perhaps it will still come to light