House solds but not appearing on sold house lists

olly300

sky111 wrote: »

So if the lists just give the idea of trends and averages, are the sales which skew the figures intentionally removed by sites after they are released by the Land Registry as these sites have a vested interest to prop up prices or is there a site that actually lists complete sales? I would think that while historically it was the interest to prop up house prices, buyers should expect to see unusual sales particularly when the market is more a buyers market.

I actually know 2 flats and a house on that doesn't appear on those pricing sites. The properties were sold at the "average" price for their areas at the time they were sold. I've checked randomly since those properties were brought and they have simply not appeared.

I also know properties that were probate properties that were sold well under market value but actually appear on those sites.

So there must be some other reason why certain properties are missed off.

Davesnave

sky111 wrote: »

So if the lists just give the idea of trends and averages, are the sales which skew the figures intentionally removed by sites after they are released by the Land Registry as these sites have a vested interest to prop up prices or is there a site that actually lists complete sales? I would think that while historically it was the interest to prop up house prices, buyers should expect to see unusual sales particularly when the market is more a buyers market.

I don't think the LR releases the data you are referring to. I'm sure that if they did, someone would publish it widely. The info is available, but only individually, house by house.

I'd see no problem myself with including repos, because I've no axe to grind on this. The only time I took an interest in this kind of data, about three years ago, there were so few sales in my target area that monthly figures appeared meaningless. I never bothered to look again.

halfone

All this 'not including houses because they're repos and not representative' is news to me. I was (apparently mistakenly) assuming that if a house wasn't on there, it was some sort of administrative error/bad record keeping.

If repos aren't on lists because they're below average price and therefore not representative, does it follow that newbuilds (with their added premium and therefore not representative of the trend/average) shouldn't appear either?

PS. Sorry if my points are a bit naive...I'm struggling with the concept of non-inclusive lists of sold houses tbh. How can a site claim to show 'average' if whole sections are excluded?

googler

halfone wrote: »

All this 'not including houses because they're repos and not representative' is news to me. I was (apparently mistakenly) assuming that if a house wasn't on there, it was some sort of administrative error/bad record keeping.

If repos aren't on lists because they're below average price and therefore not representative..................

I don't think they're excluded because they're sold for below market value per se;

I've noted that it seems when someone takes out a loan secured against their house, that seems to appear on the listings - say a 'sale' of £12,000 or £15,000 appearing in a street where houses routinely sell for, say, £200,000 plus.

This makes me think that maybe for some reason to do with the mortgage on a property not being redeemed or discharged fully when it's repossessed, that this is why they don't appear on the lists sent out by Land Registry or Registers of Scotland to the pricing display sites......

Someone out there must know.

sky111

Bump............the example of houses I know that don't appear on any lists were definately not repossessions. So without clarification, it is assumed that some house data is not released by The Land Registry and therefore not included so that the 'average' sale figure is kept high. Any estate agent out there that could comment?

Davesnave

This is what the LR say themselves:

http://www1.landregistry.gov.uk/property-information/exclusions


Also, see here:

http://www.nethouseprices.com/redesign/FAQ/Cannot-Find-Sold-House.php

And, if you trust the source, :eek: here:

http://www.housepricecrash.co.uk/forum/index.php?showtopic=101886&st=15

But I'm sure we can all Google!

olly300

sky111 wrote: »

Bump............the example of houses I know that don't appear on any lists were definately not repossessions. So without clarification, it is assumed that some house data is not released by The Land Registry and therefore not included so that the 'average' sale figure is kept high. Any estate agent out there that could comment?

Seems that we have found some of the address errors.

Funny thing is that RM recognises the addresses.

cwcw

I've seen past "sold" prices on these lists that are about half market value and always thought these were down to divorces and one partner buying out the other - is that the case? Seems an unfair way to bring averages down.

Also how error prone are they? I have a friend who says he paid X amount, but the price showing on these sold price websites is £34k higher! A high proportion of its value. Is he in denial or are the sites wrong?

googler

sky111 wrote: »

Bump............the example of houses I know that don't appear on any lists were definately not repossessions. So without clarification, it is assumed that some house data is not released by The Land Registry and therefore not included so that the 'average' sale figure is kept high.

You appear to be suggesting the Land Registry and Registers of Scotland want to keep average prices high - why would they want to do this?

olly300

cwcw wrote: »

I've seen past "sold" prices on these lists that are about half market value and always thought these were down to divorces and one partner buying out the other - is that the case? Seems an unfair way to bring averages down.

Loans secured on the property or re-mortgages appear on the list.

cwcw wrote: »

Also how error prone are they? I have a friend who says he paid X amount, but the price showing on these sold price websites is £34k higher! A high proportion of its value. Is he in denial or are the sites wrong?

If the house was a new property then the developer discount may have been added to it or he must have another loan secured on the property.

Everyone I know who does appear gave me their rounded up price.