Have house prices went down?

Polly05

I bought my place 8 years ago, and have done a lot of work to it.
I have recently got valuations with a view to selling but they seem to be coming in with quite low valuations. One especially low.
The valuations I have gotten are lower than what it was valuated at when I bought it. Its in much better condition now. New kitchen, bathroom, double glazing etc. 
The area hasn't.. deteriorated.. So I'm not sure how to explain it. Other than the agents are using recent sold prices for other properties on the street, which are lower as they are all much smaller properties and flats. There's not been any like mine sold since I bought mine.
Any ideas? 
Thanks

Polly05

I should add, I'm in Scotland where the market is apparently a sellers market and places are selling quickly. 

staffie1

You could ask the agent. But at the end of the day, you can ask whatever price you want. The market will decide what you ultimately get.

RobM99

Have a look at Rightmove, they list recent sales in your area.

Polly05

RobM99 said:

Have a look at Rightmove, they list recent sales in your area.

I have. But all the close by ones are very different properties which are smaller and not really comparable.. 

ProDave

So you bought in 2012 after the 2008/9 crash.

SOME parts of Scotland have pretty much stagnated since then.  Just think yourself lucky you had not bought it in 2007, you would be nursing a loss still.

Mickygg

Just because you bought it years ago and done it up that doesn't mean it's gone up in value. 

It sounds like to me you need to understand the housing market better and look at what prices have done in the last 8 years in your area. 

grumiofoundation

What do you think it is worth? 

List it for that.

It no one will buy it for that price, it’s not worth that price. 

getmore4less

You may have overpaid 8 years ago.

if you use the sold prices data you can see if there is any trend.
https://www.rightmove.co.uk/house-prices.html

Look for properties that sold in the last year and also around the same time you bought yours.


 

Angela_D_3

I'd get an independant valuation done, £300 ish then you know what the banks think it's worth who's only opinion matters tbh.

moneysaver

The agents valuation has no relevance when selling, they give you a guide to the value. To get a proper value which buyers & banks will go by you will need a proper valuation such as the one that comes with the home report.

Moneysaver