House prices, how much have they actually increased in a year?

mrsmortgage

Angela_D_3 said:

30% according to one local agent on a nearby flat ... yes a flat,  has a garden but still 

Crazy isn't it? Good news for me though  

JJR45

Angela_D_3 said:

30% according to one local agent on a nearby flat ... yes a flat,  has a garden but still 

Unlike an EA to overestimate how much the market has gone up by.😂

Scotbot

mrsmortgage said:

moneysavinghero said:

But to answer your thread title, the answer is 8.2% (this of course will be an average figure)
https://www.halifax.co.uk/assets/pdf/april-2021-house-price-index.pdf

Thank you! I expect Cornwall might be slightly higher than average but that gives me a good idea  

Stick the local town i to Zoopla house prices report and it will give you the % rise for the last year for that area.  You can narrow it to propertt type as well. The only caveat is it is lags by a few months. 

mrsmortgage

according to zoopla is about 7% but im guessing the current social panic must be higher? 

SpiderLegs

JJR45 said:

Angela_D_3 said:

30% according to one local agent on a nearby flat ... yes a flat,  has a garden but still 

Unlike an EA to overestimate how much the market has gone up by.😂

If houses are selling for over asking prices (which is apparently what is happening according to many on this board), then that is a clear indicator that EAs are underestimating how much the market has gone up by.

mrsmortgage

Well Purple Bricks says £260k hooray!

JJR45

SpiderLegs said:

JJR45 said:

Angela_D_3 said:

30% according to one local agent on a nearby flat ... yes a flat,  has a garden but still 

Unlike an EA to overestimate how much the market has gone up by.😂

If houses are selling for over asking prices (which is apparently what is happening according to many on this board), then that is a clear indicator that EAs are underestimating how much the market has gone up by.

So you think 30% is an underestimate then? Or is it more than possible this single estate agent has overegged it a bit? 
I can't see anywhere in the country remotely near 30% YOY
house prices have only increased around  20% in the last 5 years, including the latest figures. 
But I guess certain properties may do better, but I would certainly not say 30% YoY is an underestimate. Unless they are valuing in bitcoin😂

mrsmortgage

JJR45 said:

SpiderLegs said:

JJR45 said:

Angela_D_3 said:

30% according to one local agent on a nearby flat ... yes a flat,  has a garden but still 

Unlike an EA to overestimate how much the market has gone up by.😂

If houses are selling for over asking prices (which is apparently what is happening according to many on this board), then that is a clear indicator that EAs are underestimating how much the market has gone up by.

So you think 30% is an underestimate then? Or is it more than possible this single estate agent has overegged it a bit? 
I can't see anywhere in the country remotely near 30% YOY
house prices have only increased around  20% in the last 5 years, including the latest figures. 
But I guess certain properties may do better, but I would certainly not say 30% you is an underestimate. Unless we are valuing in bitcoin.

Out of interest, what's the highest you've seen? I think an increase of 20% for mine is way beyond wishful thinking

amandacat

As a bit of anecdotal evidence, I sold my house in Cornwall- went on the market in Mid October 2020, completed early Feb 2021. 3 bed semi and the adjourning house (same layout/standard) went on the market in April for 17% more than we sold for. It was sale agreed within days, I don't know if they got that 17% more but judging by the fact it went so quickly I am assuming so or if not very close. 

mrsmortgage

amandacat said:

As a bit of anecdotal evidence, I sold my house in Cornwall- went on the market in Mid October 2020, completed early Feb 2021. 3 bed semi and the adjourning house (same layout/standard) went on the market in April for 17% more than we sold for. It was sale agreed within days, I don't know if they got that 17% more but judging by the fact it went so quickly I am assuming so or if not very close. 

Well that's good to hear. Was it a desirable location? We're not that close to the seaside (15-20min drive)  BUT it has the best transport links, the most shops etc...