PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Do you think this is priced accurately?

245

Comments

  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    ReadingTim wrote: »
    Problem is, no-one can go back in time and buy next door instead....

    No, but anyone who lives in that area could decide whether they think prices have increased by 50% in the last year; presuming the houses are as similar as they look from outside. Seems to me to be a perfectly valid piece of information to consider; your opinion may differ.

    As I don't know the area at all I have no idea if it's positive or negative information, but I am sure the OP could make a judgement.
  • Bass_9
    Bass_9 Posts: 151 Forumite
    The bedrooms look tiny!
  • Gwendo40
    Gwendo40 Posts: 349 Forumite
    ReadingTim wrote: »
    Problem is, no-one can go back in time and buy next door instead....

    Doesn't mean that someone should automatically pay the greedy/deluded price that this kite flying vendor is asking.
  • ReadingTim
    ReadingTim Posts: 4,087 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Gwendo40 wrote: »
    Doesn't mean that someone should automatically pay the greedy/deluded price that this kite flying vendor is asking.

    Not automatically, no. But justifying an offer with reference to a past price which one cannot buy at today isn't credible. You can only justify an offer with reference to today's alternatives, and according to 'see more properties like this one', and filtering out shared ownership, the vendor is the cheapest 3 bed for a mile around.
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    edited 3 May 2018 at 6:39PM
    ReadingTim wrote: »
    Not automatically, no. But justifying an offer with reference to a past price which one cannot buy at today isn't credible. You can only justify an offer with reference to today's alternatives, and according to 'see more properties like this one', and filtering out shared ownership, the vendor is the cheapest 3 bed for a mile around.

    That's because it's not really a 3 bed.

    The house next door looks identical, apart from the wall in the bedroom. You don't need to go back in time. You need to apply the annual rise in prices in Yorkshire to 70K and see what it comes to. Then you can decide if the wall in the bedroom is worth any difference. I didn't think this was controversial or complicated, sorry.


    According to HPI the average price in Yorkshire was 154K last May and is 155K now, so next door should now be worth, all things being equal, 71K. Now, there may be reasons for next door to be cheap, or this one to be expensive, but it's beyond me how you can say this is not useful info on judging whether this house is fairly priced.

    I am fairly sure it wouldn't cost £40,000 to put up a stud partition and knock an extra door through in any 2 bed house.

    EDIT: Actually next door is also a mid terrace, of course. So this one will carry a price premium for that reason.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    ScorpiondeRooftrouser wrote: »
    The house next door sold for £70K a year ago.


    This has no relevance to what we are discussing now.
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Crashy_Time wrote: »
    This has no relevance to what we are discussing now.

    !!!!'s sake. I have just explained at length what the relevance is.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    ScorpiondeRooftrouser wrote: »
    !!!!'s sake. I have just explained at length what the relevance is.


    What is it?
  • ScorpiondeRooftrouser
    ScorpiondeRooftrouser Posts: 2,851 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Crashy_Time wrote: »
    What is it?

    Read the posts above. I am not typing it out again for you.
  • Crashy_Time
    Crashy_Time Posts: 13,386 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    ScorpiondeRooftrouser wrote: »
    Read the posts above. I am not typing it out again for you.


    So we agree it is worth about 80k?
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.4K Banking & Borrowing
  • 253.3K Reduce Debt & Boost Income
  • 453.8K Spending & Discounts
  • 244.4K Work, Benefits & Business
  • 599.6K Mortgages, Homes & Bills
  • 177.1K Life & Family
  • 258K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture