There are five major asset classes in the investment world: Shares,Bonds,Commodities,Cash and Property. Like all other assets, property has a value derived from many variable factors. The main factor is one of demand. If there is high demand then prices can go up,if there is no demand,such as the economy is slowing down, people are not changing jobs, getting promoted,having children,then demand falls and prices fall. Confidence is said to be low and economic forecasts change.At a personal level, we all want to believe that our home is always going to increase in value and over a very long period,sometimes ten to fifteen years and longer, that is true. How Do We Get A Value For Your Home? We look at historic sales value of the property as far as the records show. We look at comparable properties in the local area and compare their sales prices. We examine the detail of physical improvements of your home,such as extentions,renovations and additions such as new kitchens, bathrooms and windows and we look at the market trend and volume. We also dig a bit deeper and look at why properties in the area may have sold for a certain price, such as divorce, bankruptcy or emigration. Then there is your expectation of what you think the value of your home is verus what the prospective buyer may be expecting. You may want a very quick answer and reality it is a discussion and a rational formulation. You can see from the official graph below there is a recovery from 2009 albeit strewn with some peaks and troughs.
The Golden Triangle
The Golden Triangle is an area of affluent towns and villages in Cheshire such as Wilmslow, Mottram St. Andrew and Alderley Edge. The exact three points of the triangle are the subject of local debate, but are generally considered to be Wilmslow, Alderley Edge and Prestbury. The area is noted for expensive houses, pleasant countryside, famous footballers, celebrities and entrepreneurs. Five of the ten most expensive roads in the North West have been identified as being in this area  with Withinlee Road in Prestbury said to be the most expensive street in Northern England – with prices on average over £1.5 million. The area and its rich businessmen were fictionalised in the drama series, Goldplated. Much of the action in Howard Jacobson’s novel “Shylock Is My Name” also takes place within the Golden Triangle. It is also the main basis for the reality TV show The Real Housewives of Cheshire. ( according to Wikipedia 🙂 )