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Could This Be The Cause Of The Reported House Price 'rise'?

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I have been monitoring an area in Somerset for my in-laws using property bee and have just noticed this using. It's for a 6 bed detached house - the price history on this since Feb last year is very interesting to say the least - anyone have any idea what is going on here

ASKING PRICE £1,750,000

12 May 2008 * Price changed: from '£750,000' to '£1,750,000

22 April 2008 * Price changed: from '£380,000' to '£750,000

08 March 2008 * Price changed: from '£389,000' to '£380,000

21 February 2008 * Initial entry found

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I have been monitoring an area in Somerset for my in-laws using property bee and have just noticed this using. It's for a 6 bed detached house - the price history on this since Feb last year is very interesting to say the least - anyone have any idea what is going on here

ASKING PRICE £1,750,000

12 May 2008 * Price changed: from '£750,000' to '£1,750,000

22 April 2008 * Price changed: from '£380,000' to '£750,000

08 March 2008 * Price changed: from '£389,000' to '£380,000

21 February 2008 * Initial entry found

the only explanation i can think of is that they started off planning to sell only a small part of the house [e.g. a 'granny flat' or maybe it was all split into individual flats at one point], then changed their mind & decided to sell around half of it, then finally the whole thing as one big house?

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12 May 2008 * Price changed: from '£750,000' to '£1,750,000

:blink: that's got to be a typo, surely

Lazy EA didn't spot it?

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LINK

- this one?

Very odd... It's on a development, and really not at all like other houses going for that price!

With no chain and vacant possession, it's really not the direction they should be moving the asking price in.

I personally think that it's not necessarily price shifting like this that's changing the house price rise, but the small volume properties that are selling - skewing the data a bit.

Having said that, anecdotally, a friend put their house on the market last Monday, they had 10 viewings booked for the weekend, 2 people put in offers, it went to best and final offers, and the house is (technically anyway) sold! I was shocked - pleased for them, but completely shocked at the speed of it all! Properly priced properties are still selling quickly - although I reckon the EA must have had people in mind to get the job done so quickly.

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That would make sense but the fact that it first came on at £380k and then shoot up to £750K??

house prices only ever go up? ;)

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LINK

- this one?

Very odd... It's on a development, and really not at all like other houses going for that price!

With no chain and vacant possession, it's really not the direction they should be moving the asking price in.

I personally think that it's not necessarily price shifting like this that's changing the house price rise, but the small volume properties that are selling - skewing the data a bit.

Having said that, anecdotally, a friend put their house on the market last Monday, they had 10 viewings booked for the weekend, 2 people put in offers, it went to best and final offers, and the house is (technically anyway) sold! I was shocked - pleased for them, but completely shocked at the speed of it all! Properly priced properties are still selling quickly - although I reckon the EA must have had people in mind to get the job done so quickly.

That's the one......

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