The current crisis of the housing market is exacerbating a very British obsession with house prices. Here at Nestoria we decided to approach this topic with a lighter spirit. In order to find which areas are becoming good value, we created Nestoholic.com.
Nestoholic is a web site that compares average asking prices of houses between different locations in London and the UK. Renthusiast announced the official launch of Nestoholic earlier this week.
If you are not to be carried away by the doom and gloom of this end of the year, you might be interested in finding by yourself that average asking house price is a very resilient metric. There seems to be a time lag between the mortgage approvals and the expectations of asking house prices. Sellers are, on average, seemingly not desperate and they rather wait for the right buyer to come their way. Probably private buy-to-let investors and many passive sellers with unoccupied homes are dampening the big falls of actively-selling properties as reported by estate agents.
You might as well find locations within commuting distance from London whose trends are beginning to diverge, like comparison of prices of Harpenden and Brighton. Admittedly, the very rich will not be affected anyway, we just need to check the prices in Chelsea, for instance.
Nestoholic is one of the ideas that we are testing as part of Lokku Labs. The primary intent of these experiments consists in showing some possible uses of the Nestoria API and motivate developers and webmasters to squeeze all the value that their imagination sees fit from our database.
To learn more about how Nestoria obtain its average asking prices please read Nestoria’s help page about house price data. We are looking forward to hearing from anyone ready to spend some time to create a new approach to our data, so please do not hesitate to contact us.
