Whether you’re looking to sell in the near future or you’re interested in a possible move later down the line, a little healthy competition never hurts, and it’s always beneficial to find out how valuable your house is compared to your neighbours’. Here are five ways to tell if your property is winning the value race in your local area.
1. Find houses that are sold near yours
One of the easiest ways to gain an understanding of your house’s value is to look online at how much other houses in your area have sold for. Use websites like Zoopla and Rightmove, as they take information from the Land Registry to give you an approximate figure of a house sold.
It typically takes around 3 months for a sold property to appear on these lists, so take into account that the market is constantly growing and asking prices may have risen in your area since the listing changed hands.
2. Look at price trends in your area and nationally
Once you’ve looked up how much local properties are selling for, it’s also worth doing some research into the UK’s housing market.
You should be able to see average national house prices as well as the rate at which they’re being sold. This information can enable you to calculate your own house’s value and give you a rough idea of how much your property could achieve.
There are several house price indexes online which are released on a monthly basis. These services all use different and sometimes conflicting data sets, so it’s worth checking a few different indices to get a full picture of the current housing market climate.
The most reliable of these is Land Registry report, as its data is based on actual sales rather than mortgage data.
3. See what’s for sale nearby
You can keep on top of price trends and understand what’s hot on the market by having a look at local listings. Local asking prices are key when calculating your house value as they can indicate how much you could get for your house and also how many properties are changing hands on a regular basis.
Simply use CJ Hole’s property search, select your area, and browse through our amazing listings near you to see how much their owners are making on their property.
You can also check out the features of each home and see how they factor into the home’s overall value to gauge how your home’s features compare.
4. Book a valuation
If you want to know if your home’s value is competitive with others on the market in your area, getting your home valued by a professional is the best way to do so. At CJ Hole, we offer a free and instant online valuation, all you need to do is provide us with a few details on your property and we can send you a free valuation report.
5. Look at housing market predictions
At a time of economic unease across the UK, the housing market is changing and growing on a monthly basis. Therefore, it’s important to consider that your home’s current value is likely to increase, and it might be smart to research predictions for the future market in order to time your sale right and get a fuller picture of what your home can achieve.
While there is no clean-cut way of predicting what will happen to the housing market in the UK over the next few months, property professionals who have studied the market for years can offer reliable predictions based on the rate of growth in the market as well as the economic climate.
If you want to find out whether your home is winning the value race, request a FREE online valuation with CJ hole today!
