Owning your own home

You can put what ever you thinj in and they need to take it to the seller, I just got place for 15% under asking.

yeah, i get that you can offer whatever you want.

i'm just trying to gauge if places are actually going for over the "offers in excess of" number (ie is it a hot or luke warm market?)

i'm a seller in this situation, so what we can get for this place dictates what our options are for the next place.

having a look at sold prices suggests that the sticker prices are not way off the transaction prices.

It’s all just marketing bullshit. Offers over means nothing, just the preference of the agent.

Perfection.

Put in a low offer just to make the EA work. They have to put it to the vendor. If they don't, you can sue them. Fun all round

thanks - this is what i was thinking.

I reckon when I was selling/buying I had way more idea of actual prices than the estate agent. They seemed amazed when I said I'd downloaded all the sold prices from the land registry.

When we sold our last place, we discovered that “offers in excess of” means “we will entertain offers above £xx” rather than “we have received offers above £xx”. This wasn’t how I’d understood it while browsing around for somewhere to buy

They can entertain all they want it may as well say MSRP.

Who would actually go over a value someone indicates they would consider, unless there is actually a bidding war?

I always went in under on principle to gauge the owner as a house is worth what the buyer will pay not what the owner wants.

well, yeah. I was just reporting on what I considered to be a weird reveal during the selling process. ultimately its all nonsense, and as a buyer I was happier to know that it wasn't 'we've already had offers above X so dont even bother going under that'

unless there is actually a bidding war

as there is limited supply, a bidding war of some sort isn't altogether unlikely.

Values seem all over the place in Wanstead. Some things have come On at 100k less than I'd expect them too, which might be reflective of the sellers circs, whilst over the road and 3 houses over one has sold in my road for over 1.2m which is probably 100k more than it's fair value.

Its all over the show.

I did this as well lol. It was worth the 20 quid and 2 hours I spent making sure I hadn't fucked myself over.

thanks - is the land registry data more up to date than what you get from looking at sold prices on rightmove?

it takes a few months for the sold prices to appear there, mostly it's 2023 sales for the streets i've checked so far....

Land registry is the source, Rightmove etc. take sold prices from it
Does seem to take a few months to appear though

Zoopla has/had past sale prices too

Land registry is the original source, Zoopla, Rightmove, etc (I found Zoopla's sold listings better than Rightmove's, can't remember why) get them from there. It fell quite a bit behind during covid and there still seems to be a fair lag now (although it does seem to have February transactions in it).

Main benefit of the Land Registry site is that you can download a load of info (I did all transactions for the first half of the postcode) and then play with it in Excel to get the info you want and look up specific properties on Zoopla or whatever.

Data can be downloaded here. It's free to use and download
http://landregistry.data.gov.uk/app/ppd/

Net house prices update the quickest. You can also search at the land reg directly for a specific address but its quite clunky to do.

From the above, does anyone know a free source that tracks property listed prices?

You can get a chrome extension like this if I'm understand you correctly

Net house prices is just pulling from the Land Registry.

I found it a bit annoying as the map view just lists everything together for a postcode rather than using the full address and the Excel download required a bit of cleaning for what I wanted. It had a useful feature though where you could search a distance from an address which the Land Registry didn't let you do.

I looked at a few and they didn't really work. Main issue was estate agents remove listings and put them back up as new ones rather than just revise the prices so the tracking didn't follow the changes.

This is a very apt description of how I am now feeling.

But looking at mortgage rates I just don’t see how we can make it work even with a sub 50% ltv 😔

Great. Time to get your place on the market?

Yes but it's the only one that updates quickly

If you wan t to view prices in e7 on net house prices it's the only way to view all the recent completions with the most up to date info. It's ahead of zoopla and rightmove.

If u have a specific address to check then head straight to the land reg. I don't think the land reg give you a list of completions in the same way net house prices do