What would you offer for this??!

[FTBFFS]

Any tips on what to offer for a house with this pricing history? Sorry, figures nicked from RM!

Jan 2021 £299,995 Price increased by £14,995

Sep 2020 £285,000 Price reduced by £14,995

Aug 2020 £299,995 Price reduced by £10,005

Jul 2020 £310,000 Price reduced by £10,000

Jun 2020 £320,000 Price reduced by £15,000

Apr 2020 £335,000 First listed

Jan 2016 £145,000 Last sold

It's been renovated between 2016-2020 and appears to be a good standard, but not to our taste, we would have to do work. Location is really good. I think it was SSTC at the end of last year but seems to have fallen through. Clueless FTBs, can afford to pay asking price but the history is making me think it's still over priced?

However houses on the street seems to go for anything between 150,000 and 450,000 depending on condition so I am feeling quite confused by the whole thing.

[NachoNachoMan]

What have they done in 4 years that has meant the property has doubled in value (in their eyes at least!) in 5 years?

[sst1234]

Link? Impossible to say without looking

[TerribleCustomerCervix]

Are you willing to share a link?

[emmathedilemma]

It's only worth what someone is willing to pay for it and if you think it was under offer in Sept 20 then that that was probably no more than £285k.
I would put in an opening offer of £280, or £275 if you're feeling cheeky.

[anniegun]

All it says is that they have struggled to shift it at a higher price and hence have brought it down. You need to compare with similar houses for sale and sold recently to get an idea what a reasonable offer might be

[LemonadeFromLemons]

Use this from Nationwide:
www.nationwide.co.uk/about/house-price-index/house-price-calculator

Don’t forget to change your region, there is quite a lot of variation. (Also don’t just go off that one house, look at others on the street to see what inflation is likely to be, for all you know vendors might have vastly under or overpaid in 2016).

[FTBFFS]

@NachoNachoMan

What have they done in 4 years that has meant the property has doubled in value (in their eyes at least!) in 5 years?

Well yes, my thoughts exactly.

That calculator is fascinating. Obviously not 100% accurate given that there has been significant renovation on the property but it suggests the baseline price increase since 2016 is only around 10% in the region.

Just looking at that price history makes me think the vendors would be a bit of a nightmare though.

[NachoNachoMan]

Go on to Zoopla... Can you see photos from the previous sale? Will give you an indication of what they've done. Or maybe see if there's anything on the planning portal on the council's website?

[Africa2go]

The Nationwide HPI is for whole regions, takes no account of areas which are more (or less) desirable.

[Yellownotblue]

Was it Ronny renovated, or was it extended (eg side return, loft conversion)? If they’ve added bedrooms or living are, or bathrooms, then that would justify an increase. If they just refreshed the decor, maybe not so much.

Personally I’d offer 285. But only if satisfied there has been value added in the last 5 years.

[Yellownotblue]

Ronny renovated? DYAC. *Only renovated

[FTBFFS]

@Africa2go it might well be regarded as 'less desirable' tbh. We really like it and it suits us well, but it is a marmite sort of place. I've seen MN threads on the area in the past and that's partly why I'm not posting a link - cba to wade through all the 'XYZ is much nicer, why don't you move there instead?' posts

@Yellownotblue - decor refreshed, no extra space added.

Anyway, food for thought, thanks all!

[Mosaic123]

Flakey sellers? Do they really want to move? Are there neighbour disputes or survey problems. It's been up for sale so many times that it's off-putting.

[PurplePansy05]

Well you'd need to do your due diligence if your offer is accepted, as usual. It's impossible to say without seeing the photos, but my guesstimate would be to offer £285k.

I suggest you research the listing of this property from 2016 to compare the photos, sometimes (not always) they are available online.