How do 1991 house prices work?

rayro

Hi. bit confused about this 1991 valuation thing for council tax banding.

bought my newbuild 2 bed house in Dec 1998 for £43,000. My neighbours in similar new build houses and myself were ALL put in band B.

Using the nationwide price calculator selected East Midlands - says my house would have been worth £38,000 in 1991.

Appealed last year got turned down. Band A is up to £40,000 in 1991 but £40,001 is band B

how do these prices work when they just turn you down out of hand?

gabyjane

rayro wrote: »

Hi. bit confused about this 1991 valuation thing for council tax banding.

bought my newbuild 2 bed house in Dec 1998 for £43,000. My neighbours in similar new build houses and myself were ALL put in band B.

Using the nationwide price calculator selected East Midlands - says my house would have been worth £38,000 in 1991.

Appealed last year got turned down. Band A is up to £40,000 in 1991 but £40,001 is band B

how do these prices work when they just turn you down out of hand?

Was going to say it is right but it's not! guess it may be based on the rst of the surrounding houses? see what they sold for in 1991 is the best bet!

rayro

All the houses in my area have been built since 1991.

Every 2 bed semi was placed in band B.

Do they simply take the price paid in 1998 for new build as the 1991 price?

Seems unfair to me when you can extrapolite the notional 1991 price as less.

Altarf

rayro wrote: »

Using the nationwide price calculator selected East Midlands - says my house would have been worth £38,000 in 1991

Well there is your problem, East Midlands is a fairly wide area. The house price calculators will give you and average over the whole area, but obviously there can be significant regional variations.

rayro wrote: »

All the houses in my area have been built since 1991.

Do they simply take the price paid in 1998 for new build as the 1991 price?

No, they work out what the house would have been worth in 1991, even if it wasn't built at the time. They will have access to the sales data for properties at the time, and what they will do is find similar properties (type, bedrooms, size, etc) and use those values to value your property.

If you want to argue your band, given that you are within £2k of it, then you will need a lot better evidence than a price calculator that covers a vast area of the country. You will need to establish the actual selling prices of properties in your area. I suggest that you try the estate agents adverts in the newspaper archive at your local library.