Shocking House Price Increases

cashman82

In Ilkley, West Yorkshire they're sky rocketing. We've offered on a house that had 16 other offers and I'm not talking a cheap house here...I don't know of any other market that's as hot as it is here.

Springy17

Definitely not in most parts of London! But that's probably because absolute levels are so high!

Candyapple

mummytofour wrote: »

Horrific here near Littlehampton in West Sussex. The bottom end of the market has gone up from 175 to 225 in about 18 months. The places nobody wanted to live are all the rage as people fight to get onto the ladder. Higher about FTB land tho, things are not as pretty and what you get for 500k seems a mammoth more than 225 etc etc x

Ditto. East and West Sussex is sheer madness at the moment.

An example, went to go see an ex new build (was bought in 2014 for £290k) and the current owners purchased it from the original owners for £20k less in July 2017. It must have been a private sale because didn't see it on RM and would have snapped it up, only to put it on the market again in August 2017 (the current owners decided to divorce within this short space of time!) but this time for £325k and they accepted an offer of £320k. So £50k profit or thereabouts in the space of 1 month :eek:

Jenniefour

cashman82 wrote: »

In Ilkley, West Yorkshire they're sky rocketing. We've offered on a house that had 16 other offers and I'm not talking a cheap house here...I don't know of any other market that's as hot as it is here.

Yes, they are. That's one of the places that I'm considering moving to if I decide to move out of London when I retire in the next year or so. I've been told it's all the Londoners who've moved there, and perhaps the folks like me who moved to London and plan to go back. Other nice places in Yorkshire seem to be holding their prices reasonably well too.

Slithery

Candyapple wrote: »

An example, went to go see an ex new build

All houses are ex new-build

mummytofour

Debtslayer wrote: »

In Shropshire the prices properties are being put onto the market for are ludicrous, have no idea where EA are getting prices from.
For example a property went on market yesterday for 200k that sold in 2011 for 155k and the sellers haven't done anything to the property!

Same here, littlehampton area. It's the bottom end of the market which is going mad x

Harper123

In commuter Buckinghamshire the bottom end of the market (2 beds £250,000-£275,000) are moving pretty quickly still and are in demand. The top end of the market of over £450,000 aren't really moving.

glasgowdan

Sister in law is selling her house in Inverclyde. Not on the market yet and she's had offers equal to home report and 3k more than home report values. She paid 3k less than current report value 5 years ago, so slight rise in price in that time. 4% or so

konark

Slithery wrote: »

All houses are ex new-build

What about new-builds?

There seems to be a lot of regional differences, the Nationwide reckons prices are rising at 2% per year.

Don't rush to invest before HS2 is completed, that'll be another 15 years!

ed67812

Prices where we are, semi rural Derbyshire are massively up on last year. Although it seems driven by low supply as there is nothing going onto the market. The only ones that do disappear quite quickly.

The same little new builds (literally the same house on the same estate) are going at 280 when they were 240 last year during the first phase.