Realistically what is your house worth now

Caroline73_2

I only bought this property 2 months ago for £187k. It was a new build in 2006 and went for £210k then. An identical one is for sale around the corner for £200 at the moment.

Mrs_Arcanum

2004 to date we have probably gained 10K.

ognum

Caroline73 wrote: »

I only bought this property 2 months ago for £187k. It was a new build in 2006 and went for £210k then. An identical one is for sale around the corner for £200 at the moment.

Thats interesting means it will probably sell for about what you bought for doesnt it! I guess thats the new build premium going

lisyloo

I think my house is worth around £500K and I live in Wiltshire (bought in 2003 for £400K).
That price is based on the recent sale of an identical house.

pimento

Not sure how you work it out but we bought for £197k in 2001 and similar houses are on the market for between £320k and £350k.

Essex.

lisyloo

Not sure how you work it out

There are a lot of websites (like net house prices) that give actually sale values (not asking prices).
That can help you if there are similar houses in your postcode that have sold recently.
Obviously your house may be slightly different in some way but if there are a few that have sold it gives you an idea.
You bought at a good time :-)

WestonDave

Suburban Bath - bought in 2006, Nationwide reckons worth 2% more than that now, however looking at properties being sold (including one which sold on the same day we bought and has sold again in April this year without a lot being done to it) somewhere between 10% and 15% increase since then is probably realistic. Over the road from us a house which externally looks like ours but is in fact 5 feet wider and a 4 bed rather than a 3 (albeit all the rooms are smaller than the corresponding equivalent in our house) has just gone on the market asking 40% more than we paid for ours despite needing rewiring, a new heating system and a new kitchen. If that shifts for anything like asking price it will drag all the values up. There is one down the road with an asking price 30% over 2006 equivalent prices!

However Bath is a wierd little pocket - one of only 4 districts in England to see a rise this quarter. Supply is severely restricted and demand is always high so prices rarely fall.

ognum

WestonDave wrote: »

Suburban Bath - bought in 2006, Nationwide reckons worth 2% more than that now, however looking at properties being sold (including one which sold on the same day we bought and has sold again in April this year without a lot being done to it) somewhere between 10% and 15% increase since then is probably realistic. Over the road from us a house which externally looks like ours but is in fact 5 feet wider and a 4 bed rather than a 3 (albeit all the rooms are smaller than the corresponding equivalent in our house) has just gone on the market asking 40% more than we paid for ours despite needing rewiring, a new heating system and a new kitchen. If that shifts for anything like asking price it will drag all the values up. There is one down the road with an asking price 30% over 2006 equivalent prices!

However Bath is a wierd little pocket - one of only 4 districts in England to see a rise this quarter. Supply is severely restricted and demand is always high so prices rarely fall.

Dave - Bath sounds like Cambridge although supply and location are crucial and not the whole city is the same

puddy

we bought this 2.5 years ago for 136, the couple next door (identical house) bought theirs a year and a half before us for 168!!! that was the top of the market. i think our vendor had remortgaged this a few years before the neighbours moved in for about 158ish

sometime after we moved 2 houses across the road sold and changed hands within months ( 2 sales, in 2 months for both of them)

they sold for 70k, then 105k, the other one for 50k then 80k

so the average price for our street is now 60k!!

but obviously that doesnt represent that they were auctions and i suspect couples buying each other out

im guessing ours is worth the same as what we paid, similar houses in neighbouring streets are going for the 140 mark

WestonDave

ognum wrote: »

Dave - Bath sounds like Cambridge although supply and location are crucial and not the whole city is the same

The lowest priced unrestricted house (i.e. bricks and mortar not a park home and not a retirement complex) on the market at present is on for £130k, and that's ex council in a dodgy area and of dubious build quality. Crest last week put some 3 and 4 bed new build town houses on release in the centre on an old crane works site, with 1900 homes many social housing going in behind them. 3 bed priced at £650k, 4 beds priced at £800k! Nice kitchens and bathrooms they might have but they are still 30ft x 15ft boxes!