To think there is something off about this?

[turnitinnow]

A house was bought for £300,000 in 2006 is now on sale for £4,500,000.

I'm shocked, and my maths could be off there, but is that a 1400% (15x) increase in 20 years?

My hous doubled in price between 1999 and 2005. The house I bought after that doubled again in 17years.

15x increase seems insane. Zoopla sold price website is your friend here, what did they REALLY buy it for, and what it now sells for can be interesting.

Is it in a previously up and coming area that has seen significant transport investments or become very attractive to Londoners leaving London but still commutable to London? (Our house somewhat fits that bill and the price of housing has skyrocketed to figures well beyond what anyone would have paid for a house even 8 years ago). 2021 absolutely transformed our property market with housing selling well over asking prices and asking prices almost double what they were 2 years before. Those same people who paid well well over asking but have actually found that our town is "technically commutable" but in reality it's at least 15 and hour days if you are counting the commute due to train times are really upset that they can't even get a valuation for half the price of what they paid for their properties in 2021.

There are parts of London/ SE and what are now commuter towns which used to be cheap but with the arrival of cross rail/ high speed lines into London are now very expensive. Especially since lots of people moved out of London during COVID.

If it is within catchment of decent schools then that will push prices up further in some parts of the country.

It is ultimately worth what someone is willing to pay and just because a house is valued at a certain price doesn't mean someone will pay it.