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anyone know anything abouse inflation on houses?

(10 Posts)
kbaby Wed 18-Jul-07 19:56:37

Were trying to work out if a house sold for x amount in dec 2005 what with inflation would it be worth now.

how do i go about doing this?

thanks

Elasticwoman Wed 18-Jul-07 22:47:01

You can't work it out, because it depends on many factors apart from inflation. Just ask an estate agent to value it for you. You don't have to put it on the market afterwards.

thinkingaboutselling Wed 18-Jul-07 22:54:17

even then is complete speculation until you sell, and see what it actually goes for
we've just had ours valued and the difference between highest and lowest valuation was a whopping £135K

kbaby Thu 19-Jul-07 17:47:41

Im not yet selling but we like a house which we think is over valued. Obv the est agent says it isnt but it was only bought in dec 2005 and with nothing being done to the house theyve put it on the market this year for a 60k increase.
I was trying to work out what it is worth and if the 60k increase in price was correct due to inflation.

Elasticwoman Thu 19-Jul-07 17:59:23

The price only reflects what some one is prepared to pay - it is not a value set in stone. Even if nothing has been done to the house (and you can't know that), prices in that particular area may have gone up generally.

thinkingaboutselling Thu 19-Jul-07 21:57:58

what percentage of the overall house value is it? £60k on a £750K house wouldn't be that much over that period

FrayedKnot Thu 19-Jul-07 22:01:48

You can find out what houses in your area / the area you are looking ahve sold for recently on one of the webistes like this

which gives you a fair idea i think

here

lionheart Fri 20-Jul-07 12:04:18

Try Up My Street as well.

Lauriefairycake Fri 20-Jul-07 15:48:12

That's a year and a half mind. And if it was sold in Dec 2005 it would have been offered on in the autumn 2005, when prices were at there absolute lowest (I sold one then).

So from the lowest point of the market to the highest point 2 months ago it may be reasonable. The market has slipped a massive amount in last 8 weeks and I've just dropped my house by 25k to get it sold.

Lauriefairycake Fri 20-Jul-07 15:50:27

When you say they haven't done anything to the house any chance any of it could be 'hidden'?? I know when I moved in I spent 10k on replastering every room, fitting all new electrics, replacing floorboards and joists, new bathroom. Only then did I 'decorate' it.
Not necessarily mostly stuff you could 'see'.

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