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jklondon

Asking Verus Selling - Northwood, Pinner, Russlip

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Started looking around the Pinner, Northwood, Ruslip areas for 4bed detatched. My question is what prices are these types of propery going for versus asking and is there a 'model' that can be used to get near the value?

For example, on a recent property the vendor was asking for 600,000. The property went for 450,000 back in April 2007 (so near the height of the boom). I took this value added in £50,000 for the work they have done since and multiped it by the % increase in detatched prices in that borough during April 2007 to Nov 2010 as provided by the land registry website. The figure I came out with is around 85% of their asking price but the vendor has already refused 90% and is probably looking close to asking.

JK

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Started looking around the Pinner, Northwood, Ruslip areas for 4bed detatched. My question is what prices are these types of propery going for versus asking and is there a 'model' that can be used to get near the value?

For example, on a recent property the vendor was asking for 600,000. The property went for 450,000 back in April 2007 (so near the height of the boom). I took this value added in £50,000 for the work they have done since and multiped it by the % increase in detatched prices in that borough during April 2007 to Nov 2010 as provided by the land registry website. The figure I came out with is around 85% of their asking price but the vendor has already refused 90% and is probably looking close to asking.

JK

Well we know it is worth 540K if someone has offered that (assuming that buyer could realisitically complete).

The best 'model', as always, is too look at what similar properties are going in the area, using houseprices.co.uk and similar websites.

The thing to consider is if you think interest rates are going to go up in the middle of 2011, this may hit buyer confidence and you may be able low bid with a desperate seller. The seller in your example does not sound too desperate.

Personally i dont think interest rates are going up this year.

I live in Hillingdon myself, prices fell around 10 or 15% after the crunch, but have since gone back to peak 2007 prices after interest rates were cut.

Edited by MonkeyNuts

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Well we know it is worth 540K if someone has offered that (assuming that buyer could realisitically complete).

The best 'model', as always, is too look at what similar properties are going in the area, using houseprices.co.uk and similar websites.

The thing to consider is if you think interest rates are going to go up in the middle of 2011, this may hit buyer confidence and you may be able low bid with a desperate seller. The seller in your example does not sound too desperate.

Personally i dont think interest rates are going up this year.

I live in Hillingdon myself, prices fell around 10 or 15% after the crunch, but have since gone back to peak 2007 prices after interest rates were cut.

Thanks - seems the agent may be playing a game on this one as he now comes back to me suggesting I put in an offer at around my initial level, not sure if the other guy dropped off or he was playing a game, I think the latter which is annoying!

The markets are showing rates will increase this year, I think its a given to be honest unless something unexpected happens. The question is how much and I have seen predictions or anywhere from 0.75 - 2.00 by Q4 2010

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  • 309 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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