House prices: How much is my home worth? How to work out the value of your home

Knowing the value of your home is essential for any homeowner, even if you aren’t thinking about selling at the moment. While property prices in the UK have risen and fallen over the last two years, they’re currently on the up and this trend is expected to continue into 2022. Here’s how you can work out the value of your home.

House prices in the UK are 10 percent higher than a year earlier, according to Nationwide.

The building society has totted up the average house price in the UK is now £252,687.

This surge in pricing is predicted to continue into 2022 before faltering as experts predict people shift from cities towards the countryside.

If ongoing reports of house prices surging and falling has you intrigued about the value of your property, here’s how you can work out your home’s value.

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3 – Get a professional to give you a valuation

A local estate agent should be happy to give you a free valuation, and as professionals, they will be best placed to give you a good picture of the property market in your area.

Estate agents don’t normally charge you to make an estimate on your house’s value

Property websites like Zoopla can offer you an estimate, using data from many trusted sources, but this will only be an estimate based on the information they have available.

4 – Think about any developments in your local area

If you know about any planned developments in your local area, such as new schools, or transport hubs being built, it’s worth thinking about how this could affect your home’s valuation.

Keeping up with your local news networks and your local council is a good way to take the temperature on any new developments in your area.

Improved transport links could be attractive for commuters, whereas new schools might entice young families to the area.

All of these developments could nudge prices up over the course of a few years, so it could be worth waiting to sell.

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