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house prices

amjustagirl
amjustagirl Posts: 291 Forumite
Part of the Furniture 100 Posts Combo Breaker
in House buying, renting & selling
Hi, due to put a house i've rented out on the market soon. It was bought in April 06, was just wondering have houses prices dropped to pre 06 or not?
Thanks
Win's of 2014 so far-Maxfactor mascara, £50 Pizza Express Voucher, Dr Oetker Pizza, Nuby sippy cup :j:beer:
«1

Comments

  • MissChoc
    MissChoc Posts: 29 Forumite
    I believe this calculator could give you a rough idea (thanks to Harrop from a previous post)

    http://www.nationwide.co.uk/mortgages/calculators/housepriceworth.htm
    New challenger £2014 in 2014

    £3374/£2014
  • brit1234
    brit1234 Posts: 5,385 Forumite
    amjustagirl wrote: »
    Hi, due to put a house i've rented out on the market soon. It was bought in April 06, was just wondering have houses prices dropped to pre 06 or not?
    Thanks

    Hi, unless top end London they will most likely be below pre 2006, around the 2004-05 level. Check the street on the land registry site for semi accurate comparisons.

    Hopefully falling a lot further for first time buyers like me. :D
    :exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.

    Save our Savers
  • neverdespairgirl
    neverdespairgirl Posts: 16,501 Forumite
    It depends quite a lot on where in the UK the house / flat is.
    ...much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.
  • mark5
    mark5 Posts: 1,365 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Where I am in South Wales I would say they are down about 10-15% on 2006 prices.
  • googler
    googler Posts: 16,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    This will vary throughout the country.

    Check Zoopla or OurProperty for the sold prices in the street and local area, and you can figure this out for yourself.
  • Gwhiz
    Gwhiz Posts: 2,322 Forumite
    Part of the Furniture Combo Breaker
    OP - thought about getting a local EA in to value it and also looking online to see what properties are selling for in your area? ;)
  • Orpheo
    Orpheo Posts: 1,058 Forumite
    Gwhiz wrote: »
    OP - thought about getting a local EA in to value it and also looking online to see what properties are selling for in your area? ;)

    An EA will give a market appraisal*, not a valuation.


    *The market appraisal may be influenced by factors outside the market. Eg. the EA may inflate your appraisal to get your business, particularly if they have targets from HO.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
  • Gwhiz
    Gwhiz Posts: 2,322 Forumite
    Part of the Furniture Combo Breaker
    Orpheo wrote: »
    An EA will give a market appraisal*, not a valuation.


    *The market appraisal may be influenced by factors outside the market. Eg. the EA may inflate your appraisal to get your business, particularly if they have targets from HO.

    The pedantry is strong in this one!
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    amjustagirl wrote: »
    Hi, due to put a house i've rented out on the market soon. It was bought in April 06, was just wondering have houses prices dropped to pre 06 or not?
    Thanks

    Depends where it is.

    In some areas, prices are at a new peak.

    As a national average, around 11% below peak, or mid 2006.
    “The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.

    Belief in myths allows the comfort of opinion without the discomfort of thought.”
    -- President John F. Kennedy”
  • Malky
    Malky Posts: 694 Forumite
    As mentioned, it all depends on where you are, how close you are to local amenities and the type of property.
    For example, I'm in NE Scotland, bought a 3 bed detach in 2006 for £105K and it was valued last month at £146K. That's an increase of nearly 40%. I nearly fell of my chair when I found out the value. I was expecting £125/£130K.
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