Abbey finds Brits 'drastically overvalue' their homes
www.moneynews.co.uk > Mortgages > Abbey finds Brits 'drastically overvalue' their homes
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Abbey finds Brits 'drastically overvalue' their homes
Wed 20th May 2009
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The bank's research discovered that Britons typically overvalue their homes by around £35,000, with the average estimated value standing at £190,175.
When compared to house price figures from the Land Registry, which place the average UK house price at £152,895, it appears that Brits are being rather wishful about their humble abodes.
People who are hoping to sell their houses at present should not go on instinct, but "need to make sure that the value of their home is accurate and has been valued by professionals to avoid problems or disappointment further down the line", stated Nici Audhlam-Gardiner, director of mortgages at Abbey.
Meanwhile, those who love their greenery as much as their homes have been advised by More Than home insurance to make sure their gardens deter, rather than invite, thieves by investing in greater security measures.
Click here for more mortgage news
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