50k drop in house sale price. Why ?

CatBlack123

House that is currently advertised for £190 000 was sold a year ago for £77 000 and in 2016 for £126 000. Why such a big fluctuation in price ?

I paid for copy of title register and it says price paid was £77000 in March 2021 so a drop of 50k in 5 years then to rise by 110k in a year. 
There is a note on the document : As to the part numbered 1 in blue on the title plan only the first floor room is included in the title. 
What does it mean?

movilogo

Is the property leasehold or freehold? Was there a possibility of partial leasehold property was sold?

user1977

CatBlack123 said:

I paid for copy of title register and it says price paid was £77000 in March 2021 so a drop of 50k in 5 years then to rise by 110k in a year. 
There is a note on the document : As to the part numbered 1 in blue on the title plan only the first floor room is included in the title. 
What does it mean?

Possibly a flying freehold if that bit is on top of another property - is it?

Snookie12cat

Maybe it was sold to family at a reduced price?

CatBlack123

Thanks all for replies. The property is now advertised as freehold and it's not above any other property. It's a terraced house. 

Not sure what to think about it. 

lincroft1710

CatBlack123 said:

. 

Not sure what to think about it. 

If it is a house you may be interesting in buying, then is £190K a reasonable price and if so then see if the EA has any background knowledge of the property.

user1977

CatBlack123 said:

Thanks all for replies. The property is now advertised as freehold and it's not above any other property. It's a terraced house. 

In which case you're looking at the title register for only that part of the house. Have you checked for a title(s) for the remainder?

CatBlack123

This is the only document that was available to downland  and the document reflect the sold price from 2021 -£77 000

CatBlack123

This is from the register

user1977

Either the missing bit of the house is unregistered, or it's pending registration, or you've managed to miss it in your searching.

MobileSaver

CatBlack123 said:

it says price paid was £77000 in March 2021 so a drop of 50k in 5 years then to rise by 110k in a year. 

Many years ago when I split up with my girlfriend I bought her out of her share of the equity at the time - I can't remember the actual figures but land registry showed something like:

Price paid £200,000 (when we bought)

Price paid £  60,000 (years later when we split and I bought her out)

Price paid £400,000 (years later again when I sold)

So the property you are interested in could be something similar if previous joint owners split up.