In This Article
- How Much Are House Prices In Your Local Area?
- What about with a cash offer?
- Browse Sold House Prices & Historical Property Value On Your Street
- Where Do Sold House Prices Come From?
- How Much Has Your House Previously Sold For?
- Where To Get An Accurate House Valuation?
When selling your house, you will want to make sure what valuation to put on your house, and this will lead you to checking the sold prices in and around your postcode.
How Much Are House Prices In Your Local Area?
A question you’ll ask yourself when selling: what are house prices in my area? Whether you’re a buyer, a seller looking to downsize for cash, put your property on the market, or just browsing, the internet provides a hassle-free way to find out anything you want about any property. Find out sold prices, estimates, averages, house value quickly, regardless of national location. From the widest area to discovering sold house prices on your street, we have you covered. Though we can’t guarantee you’ll sell your house for as much as your neighbour, we can nudge you towards a hassle-free process that may mean you can sell your house in 7 days.
Valuations between estate agents vary wildly, but several websites now give you access to the kind of detailed, specific data that was once the preserve of agents and mortgage lenders. The completion of a house sale is no longer shrouded in mystery for the layman, with sold property prices at their fingertips.
The main sites all take their data from the Land Registry and the Registers of Scotland, so the figures are similar for homebuyers to view. Newly-sold homes come up on these sites relatively quickly, normally appearing in searches three months after the deal is done, so house sale prices and therefore house value is reasonably up to date. You may be enviously looking around at houses sold in your area.
Many sold-house sites just list a location, a price and if it was a flat or house, not entirely useful for homebuyers looking around at houses sold in their area. The entry could refer to a derelict bedsit or an immaculate three-bedder with an Aga, walnut floors and landscaped garden – and there’s no mention of how the sale price compares to the asking price either. It is important to look around websites to get a full estimate of the sold house prices in your area before you put your house on the market. You will get a wonderful overview of sold house price trends.
What about with a cash offer?
If you’re a cash buyer, don’t be put off by the demanding high sold prices in your area. Likewise, if you’re wanting a quick sell to downsize as soon as possible, you may want a cash buy and take little notice of what’s on the market. Vendors will often accept an all-cash purchase offer over a higher-priced offer with a mortgage, highlighting the importance of cash in powering the market for property, especially those with a desire to sell quickly, chain-free. It’s not guaranteed, but it can mean you have a quicker sale, but may come out as a little cheaper than many of the sold house prices in your area.
With stretched affordability and historically low mortgage borrowing rates, it is unsurprising that mortgage sales volumes across the nation are 138% higher than cash sales volumes. But fresh research shows that buyers who do not take out a mortgage when purchasing property can typically expect to pay 9% less on average, suggesting that cash remains king in the buy-to-let market, irrespective of house value.
Sold property prices, house price data and sales volumes sourced from Land Registry Mortgage/Cash data reveals that across Great Britain, cash-based buyers pay less than those who purchase property with a mortgage, with the exception of those buying in London.
This method is ideal for those looking to eliminate chain-related problems. Alastair McKee, managing director of One77 Mortgages, rang the benefits of buying for cash: “Many home sellers will be drawn to a cash buyer as it can often mean a quicker, smoother selling process with less paperwork and no onward chain,” leading to a relatively simple purchase which can be hugely appealing to someone that needs a quick sale, irrespective of the houses sold in your area.
If you don’t care about sold house price trends, a service that offers a guaranteed quick cash offer for your home could be the way to go. A cash buying service is the fastest way to sell any condition of a house. A homeowner can obtain a cash offer almost immediately, and sell a house quickly. Once the property is valued and a cash offer made, the sale can be complete in as little as 7 days. Most house buying services buy all types of property in any condition or location, even in a slow market. You don’t need to ask what are house prices in my area. There are no valuation, legal fees or estate agency fees to pay, however it is important to check for reviews so that you are getting the best amount for your home. Cash buying services will be in acceptance of homes in any condition, ideal for hassle-free selling of your house. You may not want to rush to completion, but a cash buying service could be the way to go.
Browse Sold House Prices & Historical Property Value On Your Street
What are house prices in my area? To search house values by postcode, the Nationwide House Price Calculator is designed for people to put in their house’s price and when they bought it, to work out what it’s worth now, and can help you to find out sold house prices on your street. It will give you a great fast estimate and overview of the sold house prices in your area, but the location is always general. It has never been simpler to browse sold house price trends, there are no legal fees, and are available 7 days a week.
If you don’t know off the top of your head the most recent sold house prices on your street, it is useful to look up the most recent price for a similar property as yours, and find the sold house prices on your street and enter this. The tool is crude: it doesn’t take into account home improvements or even pinpoint exact areas, but it can give you an idea of how price fluctuations affect demand and value. House sale prices are at your fingertips like never before.
To find out sold house prices in your area, you can look on Rightmove. You can find house values by postcode by simply entering a postcode or street to see which properties have been sold and for what. You can narrow the search by property type to better the sale you want to see through to completion. If a property has been listed on the site, it often shows photos with floor plans. You’ll sometimes see a description with more details, such as if the bathroom’s been refitted. Plus you can see Street View images.
Zoopla also lets you search house values by postcode, but you can also match up sold prices with old property ads, including pics, asking prices, descriptions and floor plans, like a permanent estate agent’s window. Go to its sold prices section, search for an area and click on ‘property history’ next to a listing. The ads can be patchy, but even just a few archived reviews and records for sold house prices on your street are fascinating. This can give you a great insight into sold house prices in the UK.
Where Do Sold House Prices Come From?
As of November 2020, the average sold house price in the UK is £249,633, and the index stands at 130.93. Property prices have risen by 1.2% compared to the previous month, and risen by 7.6% compared to the previous year, suggesting sellers’ acceptance is more difficult, as they are more likely to demand higher prices, and homebuyers are more likely to pay them, for cash or not.
Sold house prices come from The UK House Price Index (HPI) uses local and national house sales data from HM Land Registry, Registers of Scotland, and Land and Property Services Northern Ireland and is calculated by the Office for National Statistics. The index applies a statistical method, called a hedonic regression model, to the various sources of data on property price and attributes to produce estimates of the change in house prices each period.
This sold house prices index is published monthly, with Northern Ireland figures updated quarterly.
It is advised that low number of sales transactions in some local authorities can lead to volatility in the estimates at these levels. Geographies with low number of sales transactions should be analysed in the context of their longer-term trends rather than focusing on monthly movements. Visit the government’s guidance page to find out further detail about their data and its quality regarding sold house prices in the UK, it offers peace of mind for those buying and selling.
Historic data within this tool is derived. Under the UK HPI, data is available from 1995 for England and Wales, 2004 for Scotland and 2005 for Northern Ireland. A longer back-series of sold house prices has been derived by using the historic path of the Office for National Statistics HPI to construct a series back to 1968.
How Much Has Your House Previously Sold For?
There are many different ways you can find out sold house prices in the UK. Via the Government website, you can access HM Land Registry Open Data. If you want to downsize or otherwise, you can look through the dedicated Government site of sold house prices. You will need to fill in a form. The form will ask you to enter one or more search terms in order to locate the property you are looking for. You will need information about the property’s address to hand, and you can use the service to find properties that have sold in England and Wales. You can get Scottish house price information from Scotland’s land and information service (ScotLIS). You can get Northern Ireland house price information from Land and Property Services.
There are also other online property sites where you can see how much a property sold for, offering an almost complete overview.
Sites such as Zoopla, Rightmove and OnTheMarket.com can show you how much a property sold for or is estimated to sell for.
And if you want to check UK property price trends, this is also possible via the Government website through the UK House Price Index service.
Where To Get An Accurate House Valuation?
Several sites have free online tools for those buying and selling to help get a valuation, however their accuracy in determining the worth of sold house prices in the UK can leave you wanting. For more realistic valuations, use Land Registry sold prices combined with a survey. Get a free ‘valuation’, but only use it as a rough estimate, an estate agent will help you. You should take all factors into consideration, check reviews of the various sites, looking at sold house prices in your area will mean you can put your home up at a price attractive to buyers, increasing the chance of a quick sale.
The first to try is a Zoopla estimate, for a rough indication of what your home’s worth . Type in a postcode and select a home to get a bespoke valuation based on data such as previous sale prices, asking prices, property characteristics and market climate.
For a second opinion on how much value you can hope for, try Property Price Advice. You need to work through a few questions and it requires an email address, but the process is fast. You get an estimated value based on factors such as changes in local sold property prices. Use as many as possible to gain as complete a picture as possible, increasing your chance of receiving an offer of acceptance. There is no downside, no legal fees to obtain this information, you can browse house sale prices with freedom and fun!
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