Jump to content
House Price Crash Forum
Sign in to follow this  

Correct Price Of This Property

Recommended Posts

On an average most of the houses I saw are valued 20% over last year's(2013/14 peak) price. How do I know what is the right price for any house. Currently, previous sold prices seem to be meaningless with all the crazy valuations. Will someone please help me.

1) http://www.rightmove.co.uk/property-for-sale/property-34113042.html

2) http://www.rightmove.co.uk/property-for-sale/property-50110294.html

3) http://www.rightmove.co.uk/property-for-sale/property-52463339.html

4) http://www.rightmove.co.uk/property-for-sale/property-52374257.html

5) http://www.rightmove.co.uk/property-for-sale/property-34792896.html

Thanks a lot.

Share this post

Link to post
Share on other sites

What do you mean by 'correct price'?

It's SE England so the price some idiot will pay is probably going to be 5% either side of the asking price. Is that what you mean?

They are mostly terraced and therefore "non unique" so the neighbours houses are going to be very similar - look to the right sidebar to see sales in the past year if you mean the 'correct price' to buy soon.

Share this post

Link to post
Share on other sites

Thank you for your response. As I said previous sold prices are meaningless as current ones are valued at least 20% over previous sold prices.

Should I just assume that pre peak prices are more reasonable and offer accordingly.

Share this post

Link to post
Share on other sites

You can try to work that into your offer, yes. What I would do is look at the local actual % increase within 5 miles over the past 12 months and then factor that in to where the price should be.

For example if a house sold last year for £100k and house prices have risen by 3% in 12 months in your postcode, then it should be around the £103,000 mark, right? That's what common sense dictates (if you can apply common sense to the current market, which you can't) but none of this will wash with someone who saw their neighbour trying to get £150k a few months ago. It won't mean anything to them that they couldn't sell it; the estate agent will shovel shit loads of canned responses at you to tell you why it's worth the silly asking price and not the calculated market price.

End of the day you are buying in a bubble so sanity doesn't come into it. You either want the house because it's worth that price to you personally, or you think it's an overpriced shithole and pass on it.

Share this post

Link to post
Share on other sites

spunko2010, thank you for reply. Everything your say is 105% true. I am just going to go with my gut feeling and put shameless offers. Can't think of any other strategy in the current market.

Edited by Fairyland

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   297 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.