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Original poster

Where are house prices now?

29 replies

FindTheLocation · 26/05/2009 13:12

Are house prices back to 2004 levels now? I heard they were but am not sure & thought I would double check!!

Thanks

OP posts:
verylapsedrunner · 26/05/2009 14:05

Very much depends on where you live.

jeanjeannie · 26/05/2009 14:13

All over the place here. Lots of optimistic sellers asking for 5% more than 2007 They're the ones without a sold board outside!

ouchitreallyhurts · 26/05/2009 15:30

We have just paid 25% less for a property compared to what it sold for in 2004 however our own house sold for 20% MORE than we bought it for in 2003.
It depends on where you live but also how much a buyer is willing to spend (ie. ours fell in love with our house and we were very lucky!)

noddyholder · 26/05/2009 15:33

I bought in October at 2003 price in the south east.

movingnow · 26/05/2009 16:03

Just paid 3.8% more than vendor paid in 2005

OMaLittle · 26/05/2009 16:04

Well done Ouch [impressed!]

movingnow · 26/05/2009 16:05

...paid 8% under asking price as did our own buyer......I'm in the south east.

sylar · 26/05/2009 16:25

We've just offered £635k on a property that was on at the top of the market for £1.5m (although personally I think it was overpriced at that price by about £400k). Biting my nails now to see whether it will be accepted. All indications from the agent is that it will (it is currently on for £699)

However, its a bit of an unusual situation since the owner is bankrupt. Elsewhere around here things are moving. I have 43 properties on my rightmove saved list. 19 have gone under offer in the past couple of months.

ouchitreallyhurts · 26/05/2009 16:28

Wow sylar! that will be quite some house! is it in good order inside or does it need work?

OMaLittle - we were lucky I think! the people buying ours fell in love, literally, with the beams and setting whereas others came, saw and went away without making any offer!

noddyholder · 26/05/2009 16:36

Sylar hope you get it!At easter after a v slow time here for selling the sunny weather coupled with the QE etc and low interest rates caused 9 houses in the immediate vicinity of my house to go under offer.Everyone got v excited but they are all bar one back on again

Bonneville · 26/05/2009 16:39

Not sure about prices being attained but there are quite a few sold signs going up nearby at the moment.

sylar · 26/05/2009 16:50

Ouch and noddy its a lovely house. River fronting and in catchment area for best state school. But its been empty for 18 months and needs loads of work as a result of neglect and break ins I've been posting all day trying to work out rough costs and whether its affordable. Would hate to let it go and regret it forever but we don't have an endless supply of cash!

(sorry to hijack your thread findthelocation!)

noddyholder · 26/05/2009 16:54

I am sure you can do bits as you go if you plan to stay in it years!

movingnow · 26/05/2009 17:07

Sounds great Sylar, good luck

Original poster
FindTheLocation · 26/05/2009 20:18

We are in the South East. A house we have seen is on for £550,000 & last sold in August '04 for £499,000. Have asked the EA to check if the vendor will accept offers below £500,000 b/c if they won't then there is no point viewing as our very max is £500,000. Just wondered if £550,000 is rather optimistic in this market when they paid £499,000 in August '04? Thanks

OP posts:
movingnow · 26/05/2009 20:29

Go for it FindTheLocation, as you can see (further down thread) we have just bought and sold at 8% under asking price so I think you stand a very good chance.

Original poster
FindTheLocation · 26/05/2009 20:36

Congratulations movingnow!! We have sold at 2.5% under asking price & are hoping the vendors will look at offers of at least 9% below their asking price. The problem is they have already reduced the house twice by a total of £50,000. We can't afford any more than £499,999 as we do not want to pay the additional 1% stamp duty & also we would not be able to afford any furniture (it is a 5 bedroom house). We will see what the EA says tomorrow....

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movingnow · 26/05/2009 21:06

We reduced our asking price once before selling so don't give up hope. Having just worked out what our Stamp Duty will be (to be fair we were expecting it) I can see exactly why you want to stay at 499K! Hold your nerve, you can do it, but how old is the house? i.e. do factor in the re-negotiation after a surveyors report.

movingnow · 26/05/2009 21:07

Glad to see we're not the only ones moving in this market

movingnow · 26/05/2009 21:11

........mind you the whole process is driving me to drink . Not helped by DH flying off at 7am this morning to somewhere hot, dusty and dangerous for 4 weeks (leaving me to exchange/complete/move). To be fair he's been doing it for the last year so somewhat used to it.

Original poster
FindTheLocation · 26/05/2009 21:23

The house is less than 10 years old. It's not in the exact loaction of town we would like to be but it is a good compromise & ticks all the boxes. Haven't viewed it yet though & we would want to put in new kitchen/bathrooms idc. It's frightening the amount of money houses cost in my area - would move further afield but we love it here. We think it is a good time to move b/c when the houses were at their peak we would get a 3 bed semi with box rooms for the same money Ugh! I know what you mean about the whole process...stress stress stress! Sorry your DH is away for 4 weeks but you will be so proud of yourself for doing all of the admin & when you complete your DH should buy you something nice. Good luck with it all

OP posts:
IlanaK · 26/05/2009 21:26

How do you all find out the price that houses sold for previously?

Original poster
FindTheLocation · 26/05/2009 21:36

www.houseprices.co.uk you can check from 1995 (I think)

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Original poster
FindTheLocation · 26/05/2009 21:37

[www.houseprices.co.uk]

OP posts:
Original poster
FindTheLocation · 26/05/2009 21:37

orry, try again www.houseprices.co.uk

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