Anyone else notice the recent sharp rise in House Prices?

ukbondraider

Have been looking to buy a second 4/5 bed detached in one of the commuter belts of the south east and during my 6 month unsuccessful search I have noticed, particularly in the last month, how prices have jumped up around £40-50K for houses around the £500K mark.

It makes a mockery of my previous decisions to decline a potential house over a price disagreement of £5K.

Anyone else noticed this in their area? At these levels I am definitely going to hold back for any correction.

Am also going to get my current house valued. Judging by the strange prices witnessed it better have broken the 7 figure barrier.

Alan_M_2

No - noticed the opposite around here actually (Surrey).

The over £500K market is a bit bizarre though, it generally steps out of the realms of housing estates or multiple properties of the same type that have a level at which they sell based on the rest of the street etc....

A lot of it becomes far more subjective.

You go and look at it. It's either worth what they're asking or it isn't, but in many cases there aren't a list of houses "next door" on which to base any valuation.

rebeccaj

ukbondraider wrote:

particularly in the last month, how prices have jumped up around £40-50K for houses around the £500K mark.

10% rise in a month??? Now a few years ago, maybe, but in the current climate...

I'm in the east and they're not rising by even 1%, they're starting to fall.

bazzzz

ukbondraider wrote:

Have been looking to buy a second 4/5 bed detached in one of the commuter belts of the south east and during my 6 month unsuccessful search I have noticed, particularly in the last month, how prices have jumped up around £40-50K for houses around the £500K mark.

.

Hardly suprising -we are in the grip of the most persistent property boom in history.

fivemice

Prices are dropping here too. The only ones selling quickly are the ones that are real bargains - £250K in a desirable area for 4 beds, 3 reception rooms plus conservatory, large garden, garage and driveway. Most others have been on for at least one month, and quite a few are starting to drop their prices.

Kel_3

I'm in the south and they have definatly gone up a hell of alot from just before christmas. Before Christmas you could get a 4 bed detached for around £250,000 - 260,000, now similar houses are coming on for £285,000+. There are hardly any new ones coming on though so the ones that are the estate agents are overpricing IMO.