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The thing is john, that no house down my road would ever sell for £199,000, last year another house a few doors down from me sold at approx £289,000, and I live in a little road of about 14 houses, so we all know whats what.
I will check this out, as I am puzzled now that a house down my road has gone for £199,000.
I will check this out, as I am puzzled now that a house down my road has gone for £199,000.
P
paulbrown
The prices from the land registery and should be right. I have been involved in 3 house sale or purchases in the last couple of years and the prices quoted for each individual property is correct.
When looking at the average you need to look at the year of the transaction too. Houses on a given road may well be £300K but due of the history aspect the average will always be less because they used to be cheaper.
This does give a good insight into value trends over a given period though.
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Sites like this also sometimes highlight decidely dodgy deals. I saw a board go up last year on a rundown house in a fantastic rural location with a big garden and priced at £275K. I enquired on the very same day only to be told it had been sold.
Looking at the decor(through the windows) it looked liked it had been owned by old people and needed plenty TLC, it was also vacant.
A month or so later the board was still there so I asked again only to be told the same.
The house is on that link now and it was sold for £250K. I reckon if you had had spent £20K on it you would be looking at £375K or more. Someone at that estate agents did very very well.
When looking at the average you need to look at the year of the transaction too. Houses on a given road may well be £300K but due of the history aspect the average will always be less because they used to be cheaper.
This does give a good insight into value trends over a given period though.
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Sites like this also sometimes highlight decidely dodgy deals. I saw a board go up last year on a rundown house in a fantastic rural location with a big garden and priced at £275K. I enquired on the very same day only to be told it had been sold.
Looking at the decor(through the windows) it looked liked it had been owned by old people and needed plenty TLC, it was also vacant.
A month or so later the board was still there so I asked again only to be told the same.
The house is on that link now and it was sold for £250K. I reckon if you had had spent £20K on it you would be looking at £375K or more. Someone at that estate agents did very very well.
Other factors could have led to that figure. If a couple split up and one party stays in the house and 'buys' the other out - the final figure may reflect that.spice said:
i.e. house 'values up' at 300K - a offers b 100K in settlement and remortgages house for 200K to fund settlement. Figure for 'sale' goes to Land Registry at 200K hence apparent low figure in comparison to 'full' sales.
As you can see, I'm no legal expert
, but scenario of breakups / business loans / 2nd property purchases etc etc to raise cash.Homer
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