plonkee money an english-er's thoughts on personal finance

July 27, 2007

the people opposite me are moving

Filed under: house — plonkee @ 3:44 pm

A for sale sign is up on the house opposite mine, so of course I’ve checked it out at the agents to see what its on for and to nose at pictures of the inside.

Its on at £10K more than my house was, which is easily accounted for by the decorative state of the property (mine needed redecorating, a new kitchen and a new bathroom) and the size of the garden (they actually have one, whereas mine is *compact*). Its got almost identical living space to my house and the pictures of their fireplace have given me some ideas for mine.

What’s interesting to me, is that before I bought I had the perception that house prices in the area had been quite stable for a while. Using the wonderful houseprices website, I was able to find out how much they paid for it three years ago. If they sell for the asking price (which is unlikely), they’ll have made a 20% profit in three years - this looks quite good. But that only works out to be an annual rise of 6.5% a year. Given that there is a widespread belief that prices have risen massively over the last couple of years, that’s actually not such a big increase (between 2001 and 2004, similar properties showed a 26% annual price rise).

I may actually have bought at an alright time.

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