Feel I've been conned by House evaluation

Mr_B_9

Sorry if this is in the wrong category but here goes:

I bought 50% of a shared ownership flat for £65,000 in Feb 2002, thus making the 100% evaluation of the property £130,000.

Now 5 years later, the four estate agents who have come to evaluate the flat have all said I have been way overcharged originally and that the value of the house, now, 5 years later, is more like £130,000. Each has said that I should take it up with RICS (Royal Institute Chartered Surveyors). My surveyor said it was 'at the high end' of price bracket but still said 'not unreasonable' - I feel it was now, especially after seeing similar properties go for alot less.

RICS told me to contact surveyor and lodge official complaint, which I'm about to do - I am just trying to get some evidence of how much properties in my area have risen in value - and are trying to obtain this info - ANY IDEAS? The estate agents have'nt been that helpful supplying average % property value growth in my area......What are your thoughts on my situation?? I know shared ownership properties are overpriced but I feel this is too much.....any suggestions would be much appreciated.......

toonfish

if you go here http://www.nationwide.co.uk/hpi/ then you can see what the property should be worth now, or would have been worth then.

as an example A property located in South West which was valued at £130000 in Q1 of 2002, would be worth approximately £224837 in Q4 of 2006.

dunstonh

Remember that there is no price tags on houses. Valuations are subjective and a matter of opinion as to what someone will pay for them.

Sooler

You may be able to find what similar properties actually sold for here ...
http://www.nethouseprices.com/