Are we been shafted ?

john_white

Caveat_Mortgagor wrote: »

You can find sold prices on Rightmove. But the Rightmove index is generated simply from the asking prices of new instructions.

The sold prices you mention later are generated from Land Registry records and can also be found on many other sites.

Princeofpounds made reference to house price indices. He is right to say the rightmove index is compiled from asking prices. You are correct that sold prices can be found on Rightmove, but you miss the fact that he wasnt stating whether you can find sold prices if you look, he was commenting on the validity of the overall index.

Moving on to the OP's disbelief that the surveyor could give the same value as 5 years ago, I have looked on Land Registry for the following:

The average selling price of a terraced house in Birmingham as of June 2011 is £93,686.

If we look at the average price exactly 5 years earlier, in June 2006 the average for a terrace in Birmingham was £104, 319.

They dont see it, but they should snap someones hand off for a 2006 price. Prices for terraced houses in the area are currently back at May 2004 levels when the average terrace sold for 93,824.

Its fair to say that Birmingham and the west mids has been particularly hard hit in recent years. I am surprised the OP is surprised!

So it does show sold prices which is what my post said, which was in reponse to the post saying it doesn't. You can find sold prices on other sites, but, they are no different.

john_white

ruggedtoast wrote: »

No it doesnt.

Yes it does, click on the cleverly titled 'sold prices'.