House Prices - Comparison with Previous Sale Price

jimjames

Has anyone got details of how to estimate what a property value is based on previous selling price? I looked at one this evening that ticks all the boxes, it was last sold in 2004 for £127,500. A similar property sold for £135,000 in late 2008. It is just on market so not yet seen the agents price range but based on similar properties I would guess they will have something like £120-150k.

Is there an index to allow some calculation using the 2004 price to see what it could be now? Unfortunately no other properties in the road have sold since 2008 which is probably a good sign of stability.

Someone724

Zoopla.co.uk provides a calculation of house prices based on property sales, and averages for the area. Quite a useful tool although not fully up to date, and of course with certain types of property it may not be quite accurate.

I'd provide a link but MSE won't let me

googler

jimjames wrote: »

Is there an index to allow some calculation using the 2004 price to see what it could be now? Unfortunately no other properties in the road have sold since 2008 which is probably a good sign of stability.

Nothing sold of similar style in the surrounding streets....?

Henry_P_Chester

Go to http://www1.landregistry.gov.uk/house-prices/house-price-index-custom-reports, select single location, type in the postcode, select house price index report, then select from the date it was last sold to the latest date.

Then divide the price it last sold at by the index number for that month/year and multiply the answer by the latest index number. This will get you a rough current Market value as of May 2011.