{"id":446,"date":"2015-08-23T00:00:00","date_gmt":"2015-08-23T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/house-prices-valuations\/"},"modified":"2016-09-08T14:04:31","modified_gmt":"2016-09-08T14:04:31","slug":"house-prices-valuations","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/house-prices-valuations\/","title":{"rendered":"House Prices &#038; Valuations"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<h3 style=\"margin-bottom: 0px;\"><\/h3>\n<p style=\"margin-top: 0px;\"><span style=\"color: #3399cc; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><img loading=\"lazy\" src=\"\/uploads\/media\/House-Prices-uk.jpg\" alt=\"house price and valuations\" width=\"380\" height=\"253\" longdesc=\"house prices\" align=\"textTop\" border=\"0\" \/>\u00a0<\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Every homeowner wants to know the value of their property, especially when it comes to selling a house. But finding out the correct asking price is often hindered by conflicts of interest and inflated expectations. <\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Most vendors start by inviting a number of local <a href=\"https:\/\/www.thehouseshop.com\/compare-estate-agents\" title=\"estate agents\">estate agents<\/a> to visit their house and provide a &#8216;free&#8217; valuation, without appreciating that the estimates provided can be highly biased. <\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Homeowners setting their own price naturally tend towards the highest possible value based on emotional ties to the house and a desire to maximise profit from the sale of the home.<\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">&#8216;House-price&#8217; websites offer DIY research into the value of properties sold, but this is less useful than it at first appears. Information is limited and difficult to apply to similar homes owing to the lack of comparative detail provided about the properties listed.<\/span><\/span><\/p>\n<div><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Unfortunately, neither the homeowner nor the estate agent are best placed to determine the worth of a property objectively, due to personal or commercial interests. <\/span><\/span><\/span><\/p>\n<div><\/div>\n<p class=\"style47\" style=\"margin-top: 0px;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\"><strong>Online Property Valuations<\/strong> <\/span><\/p>\n<p class=\"style46\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">The House Shop\u00a0can provide an independent professional automated house price valuation that will help you make an assessment of the true value of a property. The reports also provide the following information about the location of the property: <\/span><\/p>\n<ul>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Date of recent house sales<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Sold house prices<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Numbers of properties in the street<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Types of properties in the street<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Comparable property valuations<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\"><a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\" title=\"properties for sale\">Properties for sale<\/a><\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Average house prices<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Average wage earnings in that area<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Types of housing stock<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Percentage of owner occupied homes<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Percentage of social housing<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Population demographics<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">House price trends<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Local street price rankings<\/span><\/li>\n<li><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Street ranking by turnover<\/span><\/li>\n<li>\n<p style=\"margin-top: 0px; margin-bottom: 0px;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Crime statistics <\/span><\/p>\n<\/li>\n<\/ul>\n<p style=\"margin-bottom: 0px;\">\n<p class=\"style46\" style=\"margin-top: 0px;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">More details: <\/span><a href=\"online-property-valuations.htm\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Online Property valuations<\/span><\/a><\/p>\n<p class=\"style46\" style=\"margin-bottom: 0px;\">\n<p style=\"margin-top: 0px;\"><strong><span style=\"color: #3399cc; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Estate Agent House Price&#8217;Valuations&#8217;<\/span><\/span><\/strong><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">The commission an agent earns on the sale of your house is directly linked to the property asking price and hence they have a natural bias towards higher valuations. <\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">In addition, the practice of &#8216;overvaluation&#8217; by agents, in order to sign up customers, by suggesting that the house can be marketed at a very high asking price, only later to suggest a drop to a competitive level once you are tied in to a lengthy contract, remains common. <\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">In their 2005 report on the property market the consumer group <\/span><strong style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Which?<\/strong><span style=\"color: #000000;\"> presented evidence that estate agents&#8217; valuations can often vary wildly, in some cases by more than \u00a3100,000. <\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Setting an asking price too high can keep a property on the market far longer than necessary and it can even create a ripple effect of false expectations throughout the local property market. <\/span><\/span><\/p>\n<div><strong><span style=\"color: #3399cc; font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">House price information websites<\/span><\/span><\/strong><\/div>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">There are numerous websites offering public access to Land Registry and Scottish Registry records giving the actual price properties have sold for, in any postcode.<\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">Knowing how much your neighbours paid for their house can help you establish a value you can sell your home for, which might suggest that these sites are useful when researching your valuation. The problem with all these services is that they do not give you an estimate of a <\/span><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">home&#8217;s current value, only what it sold for.<\/span><\/span><\/p>\n<p><span style=\"font-family: Verdana, Arial, Helvetica, sans-serif; font-size: small;\"><span style=\"font-family: Verdana; color: #000000; font-size: 10pt;\">There are further limitations, namely that the Land Registry only covers a fraction of all property in the UK (around 7 million homes) covering home sales since 1995. In addition, the detail on properties is sparse making it difficult to compare your home with those listed.<\/span><\/span><\/p>\n<p style=\"margin-bottom: 0px;\">\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Every homeowner wants to know the value of their property, especially when it comes to selling a house. But finding out the correct asking price is often hindered by conflicts of interest and inflated expectations. Most vendors start by<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/house-prices-valuations\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/house_prices___valuations","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/446"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=446"}],"version-history":[{"count":3,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/446\/revisions"}],"predecessor-version":[{"id":8239,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/446\/revisions\/8239"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=446"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=446"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=446"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=446"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}