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

JJR45

SpiderLegs said:

JJR45 said:

SpiderLegs said:

JJR45 said:

SpiderLegs said:

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% YoY is an underestimate. Unless they are valuing in bitcoin😂

I have no idea whether 30% is over egged or not, since a one-line example without any context isn’t really enough information to make a generalised conclusion on.

Oh, just that I was replying to the 30% YoY increase  and you pulled me up on it, saying agents were undervaluing as most are selling over asking price.
Perhaps you did not read what I was responding to, as that was the context of my reply to that person.

No, I understood what you were saying. You made a general comment about EAs overpricing property in response to a specific example that had no detail. 

I didn’t pull you up on that 30% element because, like I just wrote, I don’t know whether that has any merit or not. I just pointed out that what you said about EAs in general was at odds with many other posters’ recent experience.

Which, is of course not a generalisation in itself?
I said "Unlike an EA to overestimate how much the market has gone up by😂", not, all estate agents are overvaluing?
Not entirely sure why you have a fascination responding to my responses, to other people.
Especially when it was clearly a joke.
I'll take it as flattery.
PS my brother and sister-in-law are estate agents, so they would at least have a laugh about it.

Ok. I don’t really understand what I’ve done wrong here but you seem a bit cross. I wont respond to you in future.

No anger in my response at all.
Just bemused why you have taken a joke to another posters comment and tried to contrive an argument, that I am saying all estate agents overvalue.
Not the first time you have done it to me, to try and get a bite.
Just not falling for it this time. Prefer to keep it on topic.

mrsmortgage

Keswick1uk said:

Cornwall is crazy, but not sure how long it will last once people need homes again near their work and can jet off to the sun again.

Our neighbours were on the market for 400k two years ago. Very overpriced.  I would have said it was worth about 320k. It stayed unsold for 15 months  until the mania started to set in and he got 370k. I reckon at the height it would have gone for nearer 400k,  but then he's moved around the corner so probably that one would have increased too.

Thing is with a lot of Cornwall the houses are quirky and unique. So it's really hard to say. We were told the fact we can park 6 cars within 300m of the Quay (albeit up a steep hill) added 100k to the price. Crazy times. Can't continue, surely. 

As long as it remains buoyant for us to be able to buy our next house I'm not too bothered. I'm sure the prices will crash though. 

Keswick1uk

We thought about it but I don't think I'm man enough to cope with the extra stress of this current crazy market.

So we wussed out! (In threads on here we are that monster they call a non motivated seller). 

Sunsaru

Keswick1uk said:

We thought about it but I don't think I'm man enough to cope with the extra stress of this current crazy market.

So we wussed out! (In threads on here we are that monster they call a non motivated seller). 

You are entitled to take whatever path you choose is best for you. Don't let anyone tell you otherwise.

mrsmortgage

They called me that too at first @Keswick1uk just because I was hesitant to put my house on the market as we want something very specific. 

Keswick1uk

Feel your pain. Down here there just isn't the choice! There's pretty much only one of every house.