Realistically what is your house worth now

ash28

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.

We live in the Wokingham district and have recently sold our house - but as we've lived in it since 1993 the pricing is all a bit irrelevant - the last house to sell in the street was in 2007 for £275k - a 3 bed semi - it's now a 4 bed semi with a new living room and an extra bathroom - overall I guess they will have made money.

However our new house in Lincolnshire was bought for £279k in 2006 and we've just bought it for £210k - ouch! It was priced to get a quick sale - it did. There are 3 houses that are the same on the street and I imagine this sale will have dragged values down - maybe.

geoffky

ognum wrote: »

After lots of messages from people wanting x for their house and not believing it is now worth x -10% what do you realistically think your house is worth in todays market and where is your house?

I live in Cambridge city centre houses here have held and increased in value since I bought in 2007 due to lack of supply so I believe my house would sell today for cost + 10/20% and it would sell within a few days but I would have no where to move too!

A flat I am selling in Southampton has dropped 10% since purchase 5 years ago and is under offer due to realistic pricing

Anyone else?

And meanwhile in the real world....:T:T:T

http://www.home.co.uk/guides/house_prices.htm?location=cambridge

Welsh_Totster

Well we bought out 4 bed semi in Newport in Feb 2010 for £158k. Weve put in a new bathroom and kitchen, totally redecorated throughout, new fireplace, replaced 2 windows, new facias/soffits/guttering and had all new garden fencing and 2 decks built along with some garden re-landscaping. I've not spent that money because I want to make a fast buck, Ive spent it to make it into the home I want to as I dont intend moving for a long time, so the price the house stands at now makes no difference to me really. According to Nationwide its worth £160,500 and according to Zoopla (pinch of salt taken) its worth £189k (with improvements made). As I said it's all really academic as I dont intend selling up!

ognum

geoffky wrote: »

And meanwhile in the real world....:T:T:T

http://www.home.co.uk/guides/house_prices.htm?location=cambridge

Sorry not sure what this means? Have said this is not across the board and is locality based perhaps you can explain!

puddy

geoffky wrote: »

And meanwhile in the real world....:T:T:T

http://www.home.co.uk/guides/house_prices.htm?location=cambridge

well according to that our area has gone up by 12% or 6% depending on average or median since we bought in 2009 but I doubt that

ognum

geoffky wrote: »

And meanwhile in the real world....:T:T:T

http://www.home.co.uk/guides/house_prices.htm?location=cambridge

These stats can prove anything - the area I am talking about is an area of large Edwardian and Victorian 5 bed semis in central Cambridge

The number 5 bedroom properties on the market since September last year has fallen by 56%

The median asking price for 5 bedroom properties has increased by 17% since last year

The average asking price has increased by 31% since last year

The mediun asking price for semi detached houses has increased by 10% since last year

There are 3 houses within 2 streets of my home that have come to market and gone to sealed bids within the last 3 weeks! The market is strong in some places! It may not stay that way and unless you want to move it doesnt matter!

ognum

Eton_Rifle wrote: »

One house I bought in summer 2007 has probably dropped, what, 100K? Maybe more?
I'll find out next year as I plan to sell it!

Yes, like everyone, I did think it was risky buying at that time but I wanted that particular house and made a lot of plans around it.

The best laid plans and all that ... life took a different turn and I never got to use it.

It's rather sad actually in view of the circumstances in which I bought it never mind the fact that I've lost all that money.

Yes there is more to house buying than bricks and mortar! Sorry to hear you didnt get to live in your home

DTDfanBoy

Royal Tunbridge Wells


£191,000 Aug 2010


Quick Sale £235,000

Realistically Achievable £245,000

When my planning finally gets approved £260,000+

flossieflipflop

I'm in North Cornwall and we bought in mid 2008 for £136k (was on at £150k) no idea what's it's worth now as no one has since sold in our street but our neighbour had hers valued last year and they valued it at £139k so I reckon we'd probably get £125-135k if we sold now so not a massive loss but would be incredibly suprised if we got more than we paid for it - we're not in area where second-homers dominate (which I'm actually pretty pleased about!)

Butterscotch-

Scotland. Paid £55k in 2005 and just sold for £102k. Valued at £105k but I wanted a quick sale (on market on Fri, sold on Tues) and as the neighbours couldn't sell for £103k I thought I'd be sensible. Could have got £125k a couple of years ago.