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Original poster

Why is this house so incredibly expensive?

247 replies

Time40 · 25/05/2023 08:41

I've been looking at property in Exeter for a while, and this one is way out of line with everything else available. It's the best part of a million quid. What's going on here? Just why? And why would an estate agent let a seller put a house on the market at a massively inflated price?

https://www.zoopla.co.uk/for-sale/details/57386818/?search_identifier=6c6442577dc0cc117836ea784e0d165c050c475d612f785f24bc04c905268bed

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5
PrrrplePineapple · 25/05/2023 08:45

Typo in the price, surely. Gardens aren't that huge, and it needs a fair bit of updating inside...guess it's close to Topsham station and is detached, but cannot see the justification for the £900,000 price tag.

KimberleyClark · 25/05/2023 08:48

It does seem a lot for a quite ordinary 3 bedroom house albeit detached.

Original poster
Time40 · 25/05/2023 08:52

I hadn't thought of a typo in the price. Maybe. It's been like that for over 24 hours, though. I feel like asking them now.

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Spinnakerser · 25/05/2023 08:54

Great garden but yep it seems v expensive

CruCru · 25/05/2023 08:55

Is it in the catchment for a brilliant, impossibly oversubscribed school?

TallulahBetty · 25/05/2023 08:58

It must be a typo. It's not even like the house is modernised - it looks serviceable, but we all know 90% of people will rip out the kitchen/bathroom right away.

Plus, (whispers) Exeter isn't even all that nice....

Ponoka7 · 25/05/2023 08:59

I'm wondering if the people who've had to put it up for sale, don't want it to sell, yet. A SW could be handling it.

Original poster
Time40 · 25/05/2023 08:59

Plus, (whispers) Exeter isn't even all that nice

Oh god, please don't say that! I am very, very seriously thinking of moving there.

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KimberleyClark · 25/05/2023 09:00

The pink bath in the otherwise white and blue bathroom is a bit odd.

Original poster
Time40 · 25/05/2023 09:01

A SW could be handling it

What's a SW? (I'm probably being dim)

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Fulmar · 25/05/2023 09:01

Because it's in Topsham, not Exeter.

Original poster
Time40 · 25/05/2023 09:03

Because it's in Topsham, not Exeter

It's not that. Topsham is expensive, but even Topsham isn't that expensive.

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Mortified2468 · 25/05/2023 09:04

Snob value (Topsham is not Exeter) and potential value. A lot of houses round there are either massively extended or knocked down and rebuilt.

It's basically a plot of land that happens to have a house on it.

Original poster
Time40 · 25/05/2023 09:04

The pink bath in the otherwise white and blue bathroom is a bit odd

Yes. The loo and basin got replaced at some point, but they decided to keep the 70s bathtub.

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fyn · 25/05/2023 09:05

It takes literally two seconds to click and see the average sold price in the area is £1,139,377 so presumably not over priced for the area.

EvilElsa · 25/05/2023 09:06

We have a similar property over the road from us massively overpriced at 1.1 million. It's 100% not worth that in any way, shape or form and this is supported by the fact it's been on the market for over 2 years! Why the price hasn't been reduced is beyond me. All they've done is gone in and added some dress furniture which obviously isn't going to make a difference when the house is £200,000 overpriced. I often wonder at the thought process behind it.

ThankmelaterOkay · 25/05/2023 09:07

Time40 · 25/05/2023 08:41

I've been looking at property in Exeter for a while, and this one is way out of line with everything else available. It's the best part of a million quid. What's going on here? Just why? And why would an estate agent let a seller put a house on the market at a massively inflated price?

https://www.zoopla.co.uk/for-sale/details/57386818/?search_identifier=6c6442577dc0cc117836ea784e0d165c050c475d612f785f24bc04c905268bed

Rishi Sunak’s been buying up property so he can re-list for double, so Laura from Rightmove can say that house prices went up last month.

ChessieFL · 25/05/2023 09:07

Yeah, it’s the location

theDudesmummy · 25/05/2023 09:07

Ugh, that pink bathtub!

Original poster
Time40 · 25/05/2023 09:08

It takes literally two seconds to click and see the average sold price in the area is £1,139,377 so presumably not over priced for the area

It takes literally two seconds to click and see that much better houses in Topsham have sold for a lot less than £900,000. It's overpriced for the area. Trust me - I've been researching Exeter and surrounding area property for over a year.

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RudsyFarmer · 25/05/2023 09:09

I does look like your classic project where someone knocks the bungalow down and rebuilds a modern home on it. I would say it could be probate and they’ve started high to see if there’s any interest and could then drop by a hefty amount.

AgnesX · 25/05/2023 09:10

Location, location and proximity to school?

Sonotlaidback · 25/05/2023 09:10

It's the area obviously. There's another one nearby for sale at 80",000.

It's not a typo. Also it's not really a big standard 3 bed house, it's completely detached in what looks to be a very nice cul de sac.

Not saying it's worth that but this is what house prices are like now. My house is worth 300,000 and it's a semi on a busy road in a crap area 🤷‍♀️

Original poster
Time40 · 25/05/2023 09:11

I does look like your classic project where someone knocks the bungalow down and rebuilds a modern home on it. I would say it could be probate and they’ve started high to see if there’s any interest and could then drop by a hefty amount

Yes, that sounds likely, actually. I think you could have solved it!

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