We are looking at a few houses across a number of newish developments in the same town. All are what I assumed were relatively nice areas. I’ve been using Zoopla to compare the change from the original build price to the current listed price:
House 1 - 20y old, 160k increase
House 2 - 8y old, 30k increase
House 3 - 5y old, 100k increase
They are all prices similarly under 500k. I know the listed price isn’t the same as what it will actually sell for, but the price increases for House 1 and 3 have been steady over the years, as have other houses in the same area, and their current listing reflects the market in the area.
But for House 2 the increase is relatively small. It is also a bigger property, 5br while the other two are 4br. I guess a larger property would take longer to move? I looked at other properties on the same road as House 2 and the price increases have been variable, 30-70k.
I would love to understand more. Is it just a reflection of the market at the time - maybe House 2 was priced very highly when it was first built. Or is it very individual, down to timing and personal circumstances and getting the right buyer at the right time?
And I’d like to learn more as we were looking for a 4br but only House 2 ticks all of our boxes. But I’m a bit wary of buying a house we can’t sell on easily later. We are looking to sell again in the medium term, in less than 10 years.