What's my Z4MR worth?

[ranski]

Who knows what will happen with house prices over the next 3 years

I bought a second property the start of 2009 with friends and family saying to hold off and wait for prices to drop further. 2 years on and a similar property on the same road sold in the summer for 5k more than I bought mine - maybe we both paid over the odds, maybe the area is more desirable than others, who knows...

My advice is if the property meets your personal and financial requirements, then buy it and enjoy


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[pilchardthecat]

Who knows what will happen with house prices over the next 3 years

I bought a second property the start of 2009 with friends and family saying to hold off and wait for prices to drop further. 2 years on and a similar property on the same road sold in the summer for 5k more than I bought mine - maybe we both paid over the odds, maybe the area is more desirable than others, who knows...

My advice is if the property meets your personal and financial requirements, then buy it and enjoy

If you view it only as a home and are prepared to take a hit on capital in exchange for early ownership, then yes.

But your friends and family were giving you good advice, they just got the timing wrong. Although strictly speaking house prices have dropped significantly in the last couple of years, it's just masked by general inflation, and the fact that sterling (that thing we measure prices with) has dropped even more.

In real terms i think 20-30% over 2-3 years is quite conservative actually. We haven't had our crash yet, but look at what happened in Ireland, the US, etc if you want to know what's coming.

 

[dan yeates]

To give you an idea, the house is listed at £235,000.

Mouse price says...

Transaction history: £189,950, 27-03-2003

Free valuation estimate: £221,300

It was new in 2003.

It's in a small close of just 6 houses and is one of only 2 semi detached houses. All the others are detached with big double garages and are probably worth more like £350,000 upwards.

It's in a small walled close in a nice area.

Is there a website I can use to compare average house prices in 2011 to prices back in 2003?

 

[Lower]

Keep the car, buying a house is so yesterday . Buying peroperty is what people used to do
Don't see house prices moving in the short to mid term upwards. Take the time to find the property you really want if you must buy. Be aware that should you want to sell it, it could be a 3+year wait. I'm kind of in that situation now.Main property owned for 7 years and now want to move on but buggery me, not many buyers around. Life is short, so tempted to just move on and rent somewhere else and leave my place to eventually sell or just rent it for a few years then try again at selling.
Property ownership during these times can be such a PITA and ties you down

That's not necessarily the situation uniformly across the country though.

We sold our house a month or so ago. We had 1 asking price offer the day it went on to the market and 3 people bidding against each other by day 5.

Properly priced, desirable properties will still sell easily.

 

[IKZ4]

Back to the Z4!

If you do keep it until after winter, then that's another 4-5 months depreciation to consider, which may potentially be another few grand off the price.

 

[Finisterre]

It is six of one, half a dozen of the other.

What I would suggest is work out the exact price per square foot for each property that you consider. Having a basic metric helps you see past both bad paintwork and stylish finishes.

As for the M, you could try offering to the vendor.

 

[dan yeates]

It is six of one, half a dozen of the other.

What I would suggest is work out the exact price per square foot for each property that you consider. Having a basic metric helps you see past both bad paintwork and stylish finishes.

As for the M, you could try offering to the vendor.

There's really only one property in question. It stands far above anything else we've viewed. Nothing else compares!

 

[gannet]

To give you an idea, the house is listed at £235,000.

Mouse price says...

Transaction history: £189,950, 27-03-2003

Free valuation estimate: £221,300

It was new in 2003.

It's in a small close of just 6 houses and is one of only 2 semi detached houses. All the others are detached with big double garages and are probably worth more like £350,000 upwards.

It's in a small walled close in a nice area.

Is there a website I can use to compare average house prices in 2011 to prices back in 2003?

the data you require might be on here?