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What's going on with house prices on this street and nearby area?

Help1234
Help1234 Posts: 464 Forumite
Sixth Anniversary 100 Posts Name Dropper
edited 5 March 2020 at 4:47PM in House buying, renting & selling
Hi, I live on this street and will be looking to move in a couple of years so have kept an eye on the housing market but I find it really confusing what is going on with the house prices. Can anyone explain?

There are these 3 houses struggling to sell:

https://www.rightmove.co.uk/property-for-sale/property-86318840.html

https://www.rightmove.co.uk/property-for-sale/property-88028477.html

https://www.rightmove.co.uk/property-for-sale/property-87168764.html

The last house has been removed as it has been unable to sell. Yet houses have recently sold for far higher prices:

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=86375798&sale=56611724&country=england

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=82737569&sale=90339780&country=england

https://www.rightmove.co.uk/house-prices/detailMatching.html?prop=71706500&sale=55823657&country=england

Comments

  • MovingForwards
    MovingForwards Posts: 17,181 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    First set:

    1 and 3, small rooms and concern about what will be built on the green behind.

    2 has a scrappy garden.

    Need money spending on them to make them someone's home. But when you look at what's been sold, know you can get something nicer, for not a lot more.

    Second set:

    Had TLC, money spent and appear to be cared for.

    (Based on the photos, sold prices, my personal taste and not knowing the area)
    Mortgage started 2020, aiming to clear 31/12/2029.
  • Help1234
    Help1234 Posts: 464 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    edited 5 March 2020 at 6:17PM
    Number 1 of the second (sold) set has a 'third bedroom' on the ground floor and two bedrooms on the first floor. It sold for more than £30,000 than what the other 3bed houses are up for sale (three bedrooms on either the 1st floor, or two bedrooms on the 1st floor and a loft bedroom). And yet I wouldn't say that house is much more attractive/looks like it has had much more TLC in terms of my personal taste.
  • seradane
    seradane Posts: 306 Forumite
    Fourth Anniversary 100 Posts Name Dropper
    The ones selling in Nov/Dec would have been on the market around summer last year... I wonder if it's just a bit of seasonal downturn/Brexit/Coronavirus/whatever that's meant the pool of buyers has dried up a bit?
  • homeless9
    homeless9 Posts: 375 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    I wish house prices were this cheap in the South East. I just got a mortgage for a small 2 bed home which is priced at £300,000. My deposit was 50%. I should have just moved to Crewe and bought one of these almost outright.
  • I have a friend who lives in Haslington and I know houses take a long time to sell there. Ultimately it seems to be a small market so just depends whether the right buyer comes along at the right time!
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