Council Tax Banding/valuation problem - only 2 houses like mine!

Anthony22_2

We live in a city location, yet in my very small road of only 4 properties, there are only 2 properties (ours and our neighbour) that are purely residential and all the properties are above commerical premises. The other 2 properties in our road belong to the commerical premsies that are below them and so they are not separate homes like ours.

In addition, there are no comparative properties in the neighbouring street to us, as our properties are large and quite unique. This then is proving to be a problem with getting valualtions both now and in 1991.

Our current neighbour bought their home in 1997/1998 and I know roughly what they paid for it as we were friends with the previous owner.

Nethouseprices.com doesn't show any sales in our street and of those in the neighbouring street, none are of our size.

What can we do to assess our house price and on to assess if our banding is correct?

Rikki

Have you looked on www.ourproperty.co.uk/ you have to register but its free.

The Banding property prices was worked out on the value in 1992/93.

Anthony22_2

Rikki wrote:

Have you looked on www.ourproperty.co.uk/ you have to register but its free.

The Banding property prices was worked out on the value in 1992/93.

I have registered but its got the same information as nethouseprices.com

Rikki

Anthony22 wrote:

I have registered but its got the same information as nethouseprices.com

It was just an idea. sorry

tarinilie

Anthony22 wrote:

We live in a city location, yet in my very small road of only 4 properties, there are only 2 properties (ours and our neighbour) that are purely residential and all the properties are above commerical premises. The other 2 properties in our road belong to the commerical premsies that are below them and so they are not separate homes like ours.

In addition, there are no comparative properties in the neighbouring street to us, as our properties are large and quite unique. This then is proving to be a problem with getting valualtions both now and in 1991.

Our current neighbour bought their home in 1997/1998 and I know roughly what they paid for it as we were friends with the previous owner.

Nethouseprices.com doesn't show any sales in our street and of those in the neighbouring street, none are of our size.

What can we do to assess our house price and on to assess if our banding is correct?

Why don't you ask an estate agent for a free valuation and work out using the indices what that value translates to at 1991?

Anthony22_2

tarinilie wrote:

Why don't you ask an estate agent for a free valuation and work out using the indices what that value translates to at 1991?

I have, of course, already tried this in the past, but estate agents have the same problem - lack of comparibles. This is the basis of estate agent and surveyor valuations and so whatever they come up with is only going to be a vague guess, at best.

The other issue is that the neighbours property may have a different lease length than mine, whicyh affects value and also, their property is slightly larger than mine (it has an extra room).

tarinilie

sure - you're a bit stuck then.
A lease with less than 50 years left will start dimishing the price so you'd need to bear that in mind if using their figure . Converting a lease to FH also gets expensive with short leases .

Without recourse to the comparable method - with no 'like' sales it's difficult.


However, it's the same for the VOA - All you're left with the services of an estate agent which you could probably deduct 8% of their recommended asking price.

-or get a valuation surveyor to give you a proper estimate C £200 who knows?

One off properties are v difficult to value - A house of a friend was recently values by 3 different estate agents at £750k, £700k and £450k! so you must be careful