Expected price variation between mid and end terraced properties?

Lemoncurd

We have seen two neighbouring properties in a terrace of townhouses. We're very interested and keen to put an offer in (although not sure on which one yet).
All of the houses in the terrace are the same size and the two we have seen have the same layout although one is a mirror image of the other.

One is asking £289,950 (lots of unfinished work and needs a new bathroom) and the other is asking £310,000 (slightly better condition). Both are mid terrace.
A house at the end of the terrace sold in Jan 05 for £285,000 this house has the advantage of being end terrace and having additional windows at the side of the house - to the bathroom and ensuite. The mid terrace properties have no natural light to their bathrooms/ensuites.

I can't comment on the condition of the property that sold recently but the cheaper mid terrace needs a lot of work and the one at £310,000 also needs quite a bit of work. I'd expect that being mid terrace they should be worth less than the end terrace property. What do you think? what kind of price difference would you expect between mid terraced and end terraced properties in the same terrace? I can't see any obvious advantages to the mid terraced ones.

I also found that they two we are looking at were bought for £263,000 and £265,000 approx 2 years ago. I'd be inclined to put in quite low offers (20 - 30k less than they are asking) but seeing as particularly for the cheaper one that would bring the offer close to the prices they paid for them I can't imagine them being keen!

Joe_Bloggs

If you are as mean as me you can have your neighbours heat your house in a terraced situation. You seem envious of the end of terrace status. Why not talk to the owners of the desired property and chew the cud. They would be your neighbours anyway.
J_B.

Al_Mac

Noise may be a factor, not sure which way around though, street v neighbours.

Light is a plus factor.

But I'm with you on your offer, suggestion.
:beer:

Spendless

Does the end terrace have any land on the side, for you to extend/build a garage/ park a car for example.

If it does then i think it would be worth more.

Lemoncurd

Joe_B, know what you mean we used to live in an appartment and loved the fact that we never had to use the heating - even in the winter!
These houses aren't on a street as such so the only noise is going to be from the neighbours.

In this case the end terrace doesn't have any extra land to the side although its back garden is longer because each house has a double garage and they are all joined together in a row at the bottom of the gardens. Most of the garage for the end terrace one is across the next door neighbours garden so it has extra space to the side of the garage.
I just always thought that end terraces were more desirable as they are more like semi detached (this terrace only has 5 houses in it) and expected them to be worth more?

We spoke to the agent about the houses and apparently they also marketed the end terraced one that sold earlier in the year. He says that it was marketed at £300,000 but then the vendor took it off the market and sold it to his brother so he claims it would have sold for more like £295,000 on the open market...

Spendless

I live in a semi but on the other side (not the joined on side) is an end of terrace- a block of 4 2 ETH 2 MTH.

My neighbours ETH has a smaller garden than mine (due to the positioning of the terraces) and is slightly smaller in length, meaning all the rooms at the back of the house are smaller than mine.

This is why i would expect to pay less for my neighbours place than mine.

A also used to live in a MTH, 2 doors away from the ETH, which because it went onto an alleyway had no land at the side. I didn't ever think that this ETH would be worth more than mine - i couldn't see a reason for it to be.

In your case i would say that the reason the ETH is worth more is due to its bigger garden.

This is only my view though, others may not agree.

P.S _BTW where are you 300K for a terrace, you could buy a 4 bed detached and have change where i am for that -lol

flea72

the price difference between mid and end terrace is usually low, if there is any at all

it would all depend on what extras you were getting with an end one, ie more land, easier access - i lived in an end terrance, where every other house in the terrace, had access through my backgarden to theirs - which to me should make the end one cheaper, for the inconvenience of having your neighbours traipsing through all the time

the end one prob sold for less earlier in the year, because house prices were cheaper then, the owner wanted a quick sale, the decor was awful - lots of factors really

why do you feel the need to put in low offers though, just because you know what their neighbours sold for, and how much they paid for them 2yrs ago? - you obviously know the market value of houses in your area, and if all are priced around that mark, with work needing doing, then isnt that the going rate, whether they sold for a lower price 2yrs, 2m, or 2wks ago? - if you dont think they are worth what the buyer is asking, and the estate agent thinks they should sell for, then why bother viewing?

Norma_Desmond

It might be worth checking rear access to the properties - I've got a mid-terrace house (only a terrace of three tho') and I've actually got a right of way over both end properties' alley. It's a bit odd to explain because we're so higgledy-piggledy, but we've definitely got the best 'deal' as the right of way passes straight through both neighbours gardens.

Lemoncurd

Thanks, some interesting points of view.
In this case each house has its own access front and rear so no traipsing across each others gardens. The end terrace has a bigger garden and the extra windows that the mid terraces don't have, can't see any disadvantages to it over the mid ones hence why we expected it to be worth more.

From speaking to agents we understand that the properties aren't moving very fast in the area (Berkshire by the way) and prices certainly aren't going up quickly at the moment. Spendless - we did actually see a detached 4 bed for less than these but we're a bit more drawn to these - nicer area and nicer houses, seem to get a bit more space for the money in them.

All three houses are/were on with the same agent and they showed us the details for the end terrace one which has sold and said it was a nice house, kitchen and bathrooms had all been refitted and it was in good condition. He also pointed out some of the deficiencies in the more expensive of the houses we are looking at (and he's supposed to be selling the house to us !!! ). When I told him that I'd looked up the Land registry data he looked worried and joked that their job was a lot more difficult these days with buyers being more informed. He hadn't seen the cheaper of the two houses we're looking at but suggested that considering the amount of work needed it sounded more like a £275,000 house and it was certainly worth our aiming to get it at that and that the land reg data gave us a very strong argument.

Perhaps I'm being a bit naive but I often read articles which say things like the average sale price is around 8% lower than the asking price so unless there was a lot of competition or we were desperate for a particular house I always think about pitching offers around 10% under the asking price then upping that if unsuccessful. At the end of the day we just want to get the best deal possible (hopefully without p'ing the vendors off too much!).

Murtle

welcome to Berkshire

webmasterpolo

I'm in the middle of buying a semi at the moment, l did consider end terraces along with semis as like you said l considered them to be pretty much the same. I did not consider the mid terraces. I would say the end terraces would be worth more as they are more desireable.

I would stab a guess at something like £325,000 for the end terrace if it was the same condition as the mid terrace priced at £310,000.

Even if l am completely wrong, the saleability of the end terrace would be much greater due to semi detached hunters considering the end terrace as well, but no the mid terraces.

Hope this helps.