You’re in the market to move and you find your dream home - the problem is, it’s not for sale. It’s common for investors to make offers on properties that aren’t for sale, but how can someone who’s after a new home get started?

## Can you buy a house that’s not for sale?

Yes, it’s possible to buy a house that’s not for sale. Just because a property is not being marketed online, does not mean you cannot make an offer to the occupiers.

If you know someone (a friend or family member) with a property you love, but hasn’t gone to market yet, you could reach out to them. 

Buying directly from someone you know is the most affordable way to purchase a house that’s not for sale. They may be  open to a dialogue about selling, and your relationship with them should have some influence on the price you pay.

If your dream home belongs to a stranger however, your offer will probably need to be much more substantial. Off market properties are off market for a reason.

### What does off market mean in real estate?

In the world of real estate, an ‘off market’ home can mean one of two things:

1. That a home is not for sale

If a property isn’t for sale, the owner isn’t selling for a reason. They may be in a situation where they aren’t ready to move.

2. That a home _is_ for sale, but it’s not listed anywhere

This is what’s known as a ‘discreet property listing’. Some sellers don’t want their property name or address to be visible on property portals, in estate agent windows, or in print on a for sale sign.

That’s why, in these situations, money talks. An offer that exceeds the occupier’s expectations can be the surest way of getting what you want.

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## How to buy a house that is not for sale

Buying a house that’s not for sale can be a long and tricky process with no guarantee of success. But that’s not to say that it isn’t possible.

### Do your research

If you’ve found a property you like, you can get the ball rolling by finding out its ownership details from the [Land Registry](http://www.landregisteronline.gov.uk/). Just enter the house number and postcode and see what comes up. You can get a copy of the title register by downloading the PDF of the register entry and looking for its proprietorship details.

### Get familiar with local estate agents

If you’re looking to buy in a certain area, getting familiar with a local estate agent can be an excellent way to get the lay of the land. Some estate agents work directly with homeowners who are selling off-market properties.

To get started, inform the agent of the property you have in mind, and ask if they know of any properties like it for sale. There’s a small chance that the property you like is actually being sold off market.

The agent will then put cards and brochures through the doors of properties you like in the area. If an occupier is interested in selling, the agent will contact you with more details.

If this proves unsuccessful, there are other things an agent can do for you. If you meet their client’s criteria, they may provide you with a list of discreet listing properties - the occupiers of which intend to sell, but prefer to remain offline. 

### Reach out to the occupiers

There is nothing wrong with reaching out to the homeowners yourself. You could, for instance, knock on the door and introduce yourself, explain your interest in the property and state that you’d like to make an offer.

Or, you could put a short, personalised note through the letterbox, again stating your interest. If you haven’t decided which property you want, but you’re happy to live anywhere on the street, do try to personalise your letters and make them less generic.

![Buying a house that's not for sale - write a letter](//images.ctfassets.net/us6n8ous4bz0/6xPzmUxio4H3CjXrq0v53t/e4d77b1c321d05cf12bf45b24c34e50c/buying-a-house-not-for-sale-2.jpg)

#### Sample letter to buy a house not for sale (UK)

It shouldn’t be too difficult to write a letter to buy a house not for sale. Below is an example of the type of note you could deliver to the occupants of your dream home:

‘Dear Sir or Madam,

I hope you don’t mind me approaching you like this and writing a letter - but I’m currently in the process of selling my house and am very interested in buying a property in your area. I couldn’t help but notice your house is exactly the type of property me and my family are after.

If you are interested in taking this conversation further, please don’t hesitate to get in touch.

(insert contact details) 

Kind regards,

Sam’

Remember, most people aren’t in the mindset to move if they aren’t selling already, so it’s vital that you do not pressurise them. Neighbours talk to one another, and conversations about the ‘buyer who won’t take no for an answer’ will greatly diminish your standing.

## The problem with buying a house that’s not for sale

Time is an expensive commodity so it’s best not to waste your own or anyone else’s. As such, it's worth weighing up some of the limitations involved with buying a house that’s not for sale.

* It can be expensive to buy a house from a stranger. You have less wriggle room to negotiate a price. Most people won’t sell their homes out of the blue without an offer that’s a good bit higher than a generous asking price.
* Again, most strangers will ignore your letters. You’re initiating contact that was not warranted, and there’s probably a valid reason their house is not on the market. They’re either not ready to sell, or never will be. Unless you have enough money to make them an offer they can’t refuse, you are unlikely to persuade them otherwise.
* On the off chance you do find a willing seller, remember that selling privately can be extremely disadvantageous to both parties. 

    Firstly, the occupier will wish to verify their home’s value with an estate agent. In a buoyant property market, the agent may be able to get them the best price and a quick sale. House prices increase exponentially in a seller’s market, and homesellers can be a lot pickier about who they sell to. There is no shortage of prospective buyers or cash buyers in such a market.

    If you need to sell your own property too, you’ll need to find an estate agent to both market and sell it. As a result, your offer to privately buy your dream property loses some of its value, because your own home sale will likely place you in a property chain. A chain-free buyer is much more attractive to homeowners who weren't initially looking to sell.

If you’re looking for a new home, you might be better off buying the traditional way - that is, by browsing Rightmove or Zoopla. If you’re looking for something special, you can always check in with local agents about off market properties in the area.


Buying a house that's not for sale

You find your dream home - the problem is, it’s not for sale. Read our article to learn more about buying a property that's not for sale.

Buying a house that's not for sale | GetAgent

Since 2008, house prices have risen by a breathtaking 44 per cent. Where once the average property was worth £176,852, buyers can now expect to pay at least £277,000 for a home in the UK.

In some regions, the increase is even sharper. In London, house prices have risen from an average of £298,596 (January 2008) to £529,882 (February 2022), an astronomical 56%. In other regions however, the increase is less severe. The North West for instance, has seen average house prices rise by 31%, from £148,289 to £203,538. 

Regardless of regional disparities, it’s clear that UK homes are costing buyers more than ever before. But how does the cost of property compare to inflation and other expenses? What other products, if any, are increasing in price, and at a similar rate? And how do our salaries fare in line with the steep rise of property?

## Average house price by year (2008 - February 2022)

_Data collected from the Land Registry’s UK House Price Index._

| Year          | Average house price |
| ------------- | ------------------- |
| 2008          | £176,852.75         |
| 2009          | £161,147.91         |
| 2010          | £170,364.58         |
| 2011          | £167,888.41         |
| 2012          | £168,555.66         |
| 2013          | £172,889.66         |
| 2014          | £186,769.75         |
| 2015          | £197,890            |
| 2016          | £211,724            |
| 2017          | £221,402.66         |
| 2018          | £228,354.08         |
| 2019          | £230,611.83         |
| 2020          | £237,217.58         |
| 2021          | £259,575.66         |
| February 2022 | £277,000.00         |

The table above depicts the rise of property prices in the UK from the year 2008 to February 2022. From 2008 to 2009, the market struggled under the weights of the Financial Crisis and the Great Recession. While house prices increased in 2010 to £170,364, they dipped once more in 2011 to £167,888, as the market grappled with the ramifications of the global economic downturn.

Since 2011 however, property prices have not faltered. In 2021, we saw some of the largest growth in 14 years, with an increase of 9% from 2020 to £259,575.66. If house prices continue to rise, we may see this record broken again by the end of 2022.

This significant rise in property value is rooted in a number of factors. The UK has faced an acute housing shortage for decades. With more buyers than sellers, competition for new homes has pushed prices up. Moreover, recent government incentives, like the Stamp Duty Holiday have helped catalyse house prices to new historic heights.

## How has inflation affected our house prices?

Inflation is the rate at which the prices of goods and services increase over a period of time. Healthy economies have a low and stable rate of inflation, but high and unstable rates of inflation can be harmful and may cause people to be priced out of goods and services.

The most comprehensive way to measure inflation is the Consumer Prices Index with housing costs, or CPIH. Not only does the index cover consumer goods and services, but it measures the rise of costs associated with owning, maintaining and living in one’s own home, known as owner occupiers’ housing costs (OOH), as well as council tax.

_Data collected from the Office for National Statistics’ Inflation and Price Indices._

| Year          | CPIH |
| ------------- | ---- |
| 2008          | 3.5% |
| 2009          | 2%   |
| 2010          | 2.5% |
| 2011          | 3.8% |
| 2012          | 2.6% |
| 2013          | 2.3% |
| 2014          | 1.5% |
| 2015          | 0.4% |
| 2016          | 1%   |
| 2017          | 2.6% |
| 2018          | 2.3% |
| 2019          | 1.7% |
| 2020          | 1%   |
| 2021          | 2.5% |
| January 2022  | 4.9% |
| February 2022 | 5.5% |
| March 2022    | 6.2% |

On average, inflation rose to its highest in 2008 and 2011, where prices were 3.5% and 3.8% higher than they were in the preceding years. 

While relatively low in 2020 and 2021, inflation is on the rise in 2022. It’s set to increase from 6.2% to 9% - the highest rate in over 30 years.

**But where do property prices fit in?**

### Are properties rising in value in line with inflation?

The simple answer is no. Properties are rising in value far beyond the rate of inflation. As mentioned earlier, property prices rose at an astonishing 9% in 2021, completely dwarfing the CPIH’s inflation rate of 2.5% the same year. The previous year (2020) saw property prices rise by 2.8%, whereas inflation rose by just 1%.

To take a closer look, we researched the annual prices of some common consumer goods - white bread, bananas, and the cornerstone of any British household, Freddos.

## Food price changes since 2008

### White bread loaf

_Data collected from the Office for National Statistics’ Inflation and Price Indices._

| Year             | Price of white bread loaf |
| ---------------- | ------------------------- |
| 2008             | £1.19                     |
| 2009             | £1.23                     |
| 2010             | £1.20                     |
| 2011             | £1.20                     |
| 2012             | £1.24                     |
| 2013             | £1.30                     |
| 2014             | £1.16                     |
| 2015             | £1.04                     |
| 2016             | £1.00                     |
| 2017             | £1.03                     |
| 2018             | £1.06                     |
| 2019             | £1.06                     |
| 2020             | £1.05                     |
| 2021             | £1.07                     |
| As of March 2022 | £1.14                     |

### Bananas

_Data collected from the Office for National Statistics’ Inflation and Price Indices._

| Year             | Cost of bananas by KG |
| ---------------- | --------------------- |
| 2008             | £0.90                 |
| 2009             | £0.93                 |
| 2010             | £0.98                 |
| 2011             | £0.85                 |
| 2012             | £0.87                 |
| 2013             | £0.88                 |
| 2014             | £0.87                 |
| 2015             | £0.86                 |
| 2016             | £0.85                 |
| 2017             | £0.90                 |
| 2018             | £0.93                 |
| 2019             | £0.95                 |
| 2020             | £0.87                 |
| 2021             | £0.80                 |
| As of March 2022 | £0.90                 |

### Freddo

| Year             | Cost of Freddos |
| ---------------- | --------------- |
| 2008             | £0.15           |
| 2009             | £0.17           |
| 2010             | £0.20           |
| 2011             | £0.20           |
| 2012             | £0.20           |
| 2013             | £0.20           |
| 2014             | £0.25           |
| 2015             | £0.25           |
| 2016             | £0.25           |
| 2017             | £0.30           |
| 2018             | £0.25           |
| 2019             | £0.25           |
| 2020             | £0.25           |
| 2021             | £0.25           |
| As of March 2022 | £0.25           |

Here are some key takeaways from the datasets:

* White bread loafs were £1.19 in 2008 (CPIH 3.5%), rose to their highest in 2013 at £1.30 (CIPH 2.3%), but are now £1.14. 
* Bananas were £0.90 in 2008 (CIPH 3.5%), rose to their highest in 2019 at £0.95 (CPIH 1.7%), but are now £0.90. 
* Freddos were £0.15 in 2008 (CPIH 3.5%), rose to their highest in 2017 at £0.30 (CPIH 2.6%) but have dropped to £0.25 since.

Though we are in the middle of a cost of living crisis, consumer items have cost our wallets substantially more in the past. Whether or not they will drastically rise in the near future remains to be seen. Conversely, UK properties are, on average, worth 44% more than they were in 2008.

There _are_ periods when these items have increased beyond the average rate of inflation:

| Years       | Item             | Price increase (%) | House prices increase (%) | CPIH (%) |
| ----------- | ---------------- | ------------------ | ------------------------- | -------- |
| 2012 - 2013 | White bread loaf | 4.7%               | 2.53%                     | 2.3%     |
| 2009 - 2010 | Bananas          | 5.2%               | 5.56%                     | 2.5%     |
| 2016 - 2017 | Freddos          | 18.8%              | 4.46%                     | 2.6%     |

As you can see above, there have been periods where white bread loafs, bananas and Freddos have increased beyond the rate of house prices and inflation. However, they are now significantly lower than they were at their highest value. House prices, on the other hand, have continued to rise at breakneck pace.

## How have salaries changed vs house prices?

Perhaps the biggest indicator of growth in property value is its disparity to our income. In 1997, the Office for National Statistics recorded the average salary for a full-time role at £16,500 a year. The average house price was £63,085 - 3.8 times the average salary.

In 2021 however, the average UK salary for a full-time role was recorded as £38,131. In the same year, the average house price was recorded at £259,575.66, 6.8 times the average salary.

Salaries have increased on average by 79% while house prices have increased by an average of 121.8%

In less than 24 years, house prices have vastly outstripped our annual earnings by another 56%.

## How big events and crises affected UK house prices

While property has boomed over the last 14 years, it hasn’t been without some turbulence. Since 2008, numerous events and crises have profoundly impacted the economy. How has the UK property market responded to these events, and how deeply have they affected its buoyancy?

### Financial Crisis, Great Recession and Recovery (2008 - 2012)

The Great Recession saw thousands of UK workers lose their jobs. The economy shrank for five quarters in a row. By the end of 2011, almost 2.7 million people were looking for work. 

In the table below, you can certainly see the impact. House prices plummeted by 9.2% in 2009. After regaining some of the ground they lost in 2010, they shrank to £167,888.41 in 2011, only to grow by just £1000 in 2012. 

While certainly a turbulent period for the property market, house prices eventually began to rise once more. They have not fallen annually since. 

| Year | Average house price |
| ---- | ------------------- |
| 2008 | £176,852.75         |
| 2009 | £161,147.91         |
| 2010 | £170,364.58         |
| 2011 | £167,888.41         |
| 2012 | £168,555.66         |

### Brexit vote with public voting in favour of UK leaving EU (2016 - 2019)

In June 2016, UK citizens voted in favour of leaving the European Union. A highly controversial vote, and one with long-reaching consequences, the market floundered in the months following.

However, by June 2019, average property prices had stabilised, having grown by almost £15,000 (7.7%). It seems the UK’s departure from the EU had a negligible impact on house prices.

| Month/Year     | House price |
| -------------- | ----------- |
| June 2016      | £212,887    |
| July 2016      | £215,127    |
| August 2016    | £215,145    |
| September 2016 | £214,816    |
| October 2016   | £214,107    |
| November 2016  | £215,113    |
| December 2016  | £215,000    |
| June 2017      | £221,883    |
| August 2018    | £231,898    |
| January 2019   | £228,314    |
| June 2019      | £230,049    |

### Covid 19 Pandemic Crisis (2020 - 2022)

The ongoing Covid 19 Pandemic resulted in the largest global recession since the Great Depression. To combat its effect on the economy, the UK Government created a series of initiatives, including the Furlough Scheme and the Stamp Duty Land Tax (SDLT) Holiday. The SDLT Holiday is credited with having saved the housing market from turmoil. It’s also partly responsible for catalysing house prices into perilous new heights.

In the data below, you can see that prices dipped in May, just after the looming virus had invaded the UK and Boris Johnson announced the ‘Stay at home’ message. The following month saw the beginning of the SDLT Holiday and a return to market buoyancy.

Though prices dipped in the months following the end of the Stamp Duty Holiday in June 2021, they have since made a comeback. As of February 2022, properties in the UK are worth £277,000 on average.

| Month/Year                            | House price |
| ------------------------------------- | ----------- |
| March 2020 (Stay at home)             | £232,684    |
| May 2020                              | £231,508    |
| June 2020 (Stamp Duty Holiday begins) | £234,703    |
| July 2020                             | £236,687    |
| August 2020                           | £238,998    |
| June 2021 (Stamp Duty Holiday ends)   | £266,283    |
| July 2021                             | £254,564    |
| February 2022                         | £277,000    |

## Summary: First-time buyers face perilous new heights

There’s a fine balance between keeping the market both alive and affordable. Unfortunately, for many first-time buyers, it’s a steeper climb than ever to take that first step on the property ladder. 

The speed at which property prices have risen over the last fourteen years does prompt questions about what government intervention, if any, might occur in the near future.

In April last year, the Mortgage Guarantee Scheme (MGS) was launched to give lenders the option to purchase a guarantee on mortgage loans for buyers with less than a 10% deposit. MGS can be used on new build homes and existing homes by first-time buyers, home movers and remortgagers.

This programme does seem to serve a purpose, aiding a similar level of transactions as Help to Buy Equity Loans did in their early days. The question is this: are government schemes that feed demand without addressing supply, the answer to the problem?

Launched in 2013, the Help to Buy programme was touted to be a major intervention in helping buyers secure their first home. However, many criticised its artificial inflation of house prices. Now, there are two such schemes running alongside each other, at a time when property values are already climbing at an alarming rate. 

Whether some future government action will address these issues, remains to be seen. Perhaps a more consistent approach, like expanding residential areas and building more houses, would be a far more sustainable way to address affordability in the long run.

House prices have risen by nearly 50% since the last Financial Crisis

How do house prices compare to 2008? Read our exclusive piece to find out more.

House prices rise by nearly 50% since last Financial Crisis | GetAgent

House prices have risen by nearly 50% since last Financial Crisis

There are a number of reasons why someone might ask, ‘can I sell my home and still live in it?’. The most common are related to old age. You may, for instance, want your children to avoid [Inheritance Tax](https://www.getagent.co.uk/blog/selling-tips/how-to-avoid-inheritance-tax-on-property). Or, if you’re after a well-financed retirement, you may wish to release some of your home’s equity.

Yes, it is possible to sell your home and continue living in it, either as a tenant or rent-free. However, this all depends your circumstances, and the route you decide to take.

Let’s take a look at some of the ways you can continue to live in your home after selling it.

## Sell and Rent Back Scheme (SRB)

Sell and rent back schemes (SRBs or leaseback companies) were once a popular way to circumvent problems with mortgage repayments. An SRB involves the homeowner selling their property to a private firm for a reduced price, and then renting the property back from the firm (also for a reduced rate).

Unlike many of the other schemes in this article, **SRBs are not equity release plans**. Equity schemes are designed for people who have paid off their mortgage, whereas SRBs are designed for homeowners who haven’t. This makes them attractive to those who are struggling to pay back their mortgages.

**It’s worth being extremely cautious around Sell and Rent Back schemes**. The Financial Conduct Authority (Government watchdog), which is responsible for ensuring private firms follow the rules, previously found a vast range of problems with these companies.

### I’m considering a Sell and Rent Back Scheme…

If you’re considering a SRB, it’s imperative that you act with caution. According to law, these firms:

* Must arrange an independent valuation of your home if you haven’t already done so.
* Must check you can afford the agreement and whether it will affect your entitlement to benefits.
* Must arrange a fixed term tenancy of **at least five years**.
* Must give you at least 14 days to give you time in deciding what to do.

When you’re deciding which SRB to go with, remember:

* To weigh up how much they are offering you

Sell and Rent Back schemes make their money by buying homes below market rate, which means you may end up losing money on the sale of your home. You might have been able to make more from your sale, and use the remaining profit to pay off any debts you owe.

* That you could still get evicted

You’re still vulnerable to eviction, even if you sell with an SRB scheme. Tenancy agreements, even those agreed under an SRB scheme, can be violated, leaving you vulnerable to eviction.

Another cause for eviction is the end of the fixed term tenancy agreement. With the five year period at an end, the landlord can easily evict you, even if you gave them no cause to during your tenancy. A long term leaseback must be signed and agreed upon before, not after.

Sell and Rent Back schemes are highly risky, so always proceed with caution when dealing with one of these firms.

## Can I sell part of my house?

Yes, you can sell a part (or share) of your house.

If you were to sell a share of your property to a friend or family member, you have two options. They could either pay cash for the share percentage agreed, or they could get their lender’s agreement to be applied to their existing mortgage, and instruct their conveyancer to arrange a ‘transfer of equity’. This would allow them to be listed as joint owners at the Land Registry. If the transfer of equity is worth over the [Stamp Duty Land Tax](https://www.getagent.co.uk/blog/buying/stamp-duty) threshold, there would be outstanding Stamp Duty to pay.

You can also sell part of your house in what’s known as a Home Reversion Scheme.

## Home Reversion Scheme

Home reversion schemes are a form of [equity release](https://www.getagent.co.uk/blog/selling-tips/what-is-equity-release), whereby a lender offers between 20 and 60 percent of the value of the share of your property, and you either receive a cash lump sum or a regular income. You can either sell a share in your property, or the entirety of it. **Security of tenure** gives you the right to continue living at the property until you wish to vacate.

Most homeowners sell their entire property in exchange for a lifetime lease. Once the homeowner dies, the property falls into the lender’s ownership.

The price at which the property or share is sold to the lender is dictated by several factors, including:

* The homeowner’s life expectancy (the older you are, the more you’ll get for your property)
* Expected house appreciation and volatility
* Maintenance and insurance costs

Although the lender owns your home, you can live at the property rent free, and since it’s not a loan, there are zero interest charges or capital repayments.

### I’m considering a Home Reversion Scheme…

If you’re considering a Home Reversion Scheme, remember that **age plays a big role in how much of a percentage you get of your home’s full market value**. Under a lifetime lease, you carry the right to continue living in your home - but some plans **may** require monthly repayments to allow for a larger release of equity.

The terms of your lease depends on which scheme you choose, so make sure you shop around.

While Home Reversions are a useful way to release equity from your home, there’s a number of risks that come with them. Remember that:

* You will no longer own your full home, just a share of it.
* You will still need to maintain your property while you live there. It’s best to h ave some money put aside to pay for any repairs, damages or other costs like ground rent.
* You will have to follow the terms set out in the lender’s lease. You could be evicted if you violate its terms.
* Some freeholds carry an annual rent, which you might be liable for.

Ultimately, **Home Reversions plans carry a greater risk than standard mortgages**. As they involve selling large shares of your property, they could have big implications for taxes, inheritance and benefits. You should always receive financial advice from a qualified expert before applying for a Reversion Scheme.

## Lifetime Mortgage

Like Home Reversion Scheme, Lifetime Mortgages (sometimes called Reverse Mortgages) are another form of equity release scheme (ERS) - the difference being that a Reversion Scheme sees a share of your house sold for less than its market value, while a Lifetime Mortgage is **a loan secured against your house**.

Under a Lifetime Mortgage, the provider takes mortgage charge of the property and lends the homeowner a lump sum or income stream. Typically, mortgage repayments are not required during the homeowner’s lifetime. Instead, Lifetime Mortgages are repaid from the proceeds of the property sale once the homeowner dies or moves into a care home. You can, however, repay the mortgage earlier if you so wish.

### I’m considering a Lifetime Mortgage…

If you’re considering a Lifetime Mortgage, it’s worth remembering that only **a maximum of 60% of your home’s value is available**. The higher tiers of the limit are restricted to a handful of providers, and this also depends heavily on both your age and mortgage lender. As with Reversion Schemes, the older you are, the greater your Loan to Value ratio (LTV).

It’s also worth noting that there is a risk you’ll owe far more than was initially borrowed when the time comes to sell. Lifetime Mortgages, like standard mortgages, charge compound interest. However, this loan cannot exceed the total value of your house.

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## Can I sell my house to my children?

Some elderly homeowners choose to sell their homes to their children and continue to live on in the property. While this is perfectly legal, there are some tax issues that could cause trouble later on.

### If your child has a main residence already…

If your son or daughter already has a main residence, and they aren’t planning on selling it, they can’t use a standard residential mortgage to buy your property. They will have to use a Buy-to-Let mortgage instead. These mortgages usually require a 40% deposit, and an ability to cover the mortgage out of earned income.You will also have to rent this property from them at a standard rate.

Buy-to-Let mortgages can be difficult to obtain, especially for such a personal endeavour. Most lenders only consider applicants who are purchasing for commercial purposes.

### If your child sells their main residence…

If your son or daughter is planning on selling their own property to buy yours, they can use a residential mortgage to finance their purchase.

If you, the homeowner, have already paid your mortgage off, you could sell your home for under market value, effectively gifting a portion of your property to your child. For example, if the value of your property is £420,000, and they buy it for £320,000, you have gifted them £100,000.

#### Inheritance Tax

Gifts above the Nil Rate Tax Band that are made within seven years of death are subject to [Inheritance Tax (IHT)](https://www.getagent.co.uk/blog/selling-tips/how-to-avoid-inheritance-tax-on-property). If you live for seven years after the gift was made, there is no IHT for your child to pay - unless, as in this case, you continue to live in the property after the sale.

If you _do_ continue to live at the property after the sale, Inheritance Tax will be payable on the property in the event of your death. However, if you pay rent at a market rate, this will reduce your child’s liability of IHT. The income your son or daughter earns from this rent will be subject to Income Tax.

Your child will also have to pay Stamp Duty Land Tax if you do not completely own your home (without a mortgage).

#### Capital Gains Tax

If your property is one of several residences you own, your sale could be liable for [Capital Gains Tax](https://www.getagent.co.uk/blog/property-news/how-capital-gains-tax-works-property). Capital Gains is a tax on assets, like property, that have increased in value since coming to ownership of them.

### The risks

As outlined above, there are significant tax risks associated with selling your home to your children. There are also more personal risks.

* Your child, as the new legal owner, will have the ability to evict you. While uncommon, it’s not unheard of that familial disputes have resulted in parents being evicted from their homes.
* The property is at risk of being sold as a result of divorce or bankruptcy. 
* If your child dies before you, and they haven’t made specific provisions to allow you to stay in the property, you could lose your place there.

## Should I sell my house and rent in retirement?

If you have a lot of equity in your property, or own it outright, selling it could help fund your retirement. On the surface, renting is cheap, and you would get to keep the majority of your profits.

However, renting in retirement could get extremely expensive. According to HomeLet, the average rent in London is £1,572 a month, which means each year you would pay £18,864. If you sold your home for £360,000, it would take five years to spend £94,320 on rent, or 26.2% of the profits from your house sale. If you have children or family, renting in retirement could have big implications for the inheritance you leave behind when you die.

Many homeowners instead choose to sell their homes and _downsize_ in the face of retirement (buying a smaller, cheaper property). This means they’ll still have money left over to fund their retirement, while also living mortgage and rent-free for the rest of their independent lives.

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## Summary: Make your home go further

There are a number of ways you can sell your home and still continue living in it. However, as with many unconventional property plans, there are potential drawbacks, like taxes. The best way to avoid these issues is to prioritise long term financial planning. To get started, find out the true market value of your home by choosing a reliable estate agent, and hire an independent financial adviser. 

Can I sell my house and still live in it?

Yes you can sell your house and still live in it, either as a tenant or rent-free. However, this all depends your circumstances, and the route you decide to take.

Can I sell my house and still live in it? | GetAgent

Homes are selling extremely fast at the moment, and prices are [consistently rising month-on-month](https://www.forbes.com/uk/advisor/personal-finance/2022/06/09/house-prices-updates/#:~:text=13%20April%3A%20Annual%20House%20Price%20Inflation%20Soars%20To%2010.9%25&text=Average%20UK%20house%20prices%20rose,for%20National%20Statistics%20(ONS).) as demand increases. For some lucky homeowners, this means they now have the chance to diversify their investments and foray into the rentals business. 

In this article, we'll demystify the process of buying an investment property and sum up the pros and potential risks. 

## How to invest in property

Buying property as an investment is also known as 'building a property portfolio'. 

There are two ways to start building a property investment portfolio –– through direct investment (buying properties outright) or indirectly (by setting up a property investment fund and pooling your money into property with other investors). 

It's important to note that all investment carries risk, so paying off debt and ensuring that you have emergency savings in place is essential before you start looking into new properties. 

But if your finances are in good shape and you think you're ready to start the process of buying an investment property, here are some examples of the types of property you can add to your portfolio:

### Buy to Let (BTL)

When most people think of 'property investment,' they think of Buy to Let properties. This type of property investment is where you buy residential property (often with a Buy to Let mortgage) and rent it out to tenants. Many people ask, can you buy an investment property and live in it? Unfortunately, BTL lenders do not allow landlords to live in their investment property alongside their tenants. 

### Build to Rent (BTR)

Build to Rent is where buyers can invest in purpose-built housing designed for rent rather than sale. They are becoming increasingly popular as renters are willing to pay a premium to live in well-managed, high-quality housing. 

### House in Multiple Occupation (HMO)

Like a Buy to Let property, HMOs are designed to house residential tenants. However, under a 'multiple occupancy' contract, the property can be shared between multiple households and include common areas and separate tenancy agreement terms. 

### Off-Plan

Off-Plan is where a property investor can pay towards a property while it is still under construction. This type of investment can be riskier, as the build may not go to plan. However, it’s possible to get a great deal if you're looking to invest. 

### Freehold 

Property investors can purchase a property and the land it stands on as part of a Freehold agreement. The buyer becomes responsible for managing all aspects of property, including land maintenance, insurance and repairs. 

### Leasehold

In a Leasehold agreement, property investors buy a leasehold property from the freeholder. Leasehold ownership is agreed upon for a number of years. After that time, ownership transfers back to the freeholder. 

![Is it worth buying an investment property?](//images.ctfassets.net/us6n8ous4bz0/3draFWuYRSWyrIx1F1onfF/8711efa6aa91b8a929f63e050b701418/buying-an-investment-property-2.jpg)

## Is it worth buying an investment property?

Real estate investors make money through rental income, appreciation, and profits generated by business activities that depend on the property. There are some real benefits to investing in real estate, including:

### Passive Income

The ultimate goal for property investors is financial independence. Investing in property allows you to generate passive income from your tenants, which you can use to pay off your Buy to Let mortgage, maintain buildings, or reinvest in your housing portfolio. 

### Stable Cash Flow

Cash flow in property investment terms relates to the net income your properties make once you’ve covered their expenses. Stable cash flow allows property investors to pay down any mortgage loans and gradually build equity in their properties. 

### Tax Incentives

There are several tax incentives for UK homeowners looking to buy property as investment. For example, landlords can collect the first £1,000 of their rental income tax-free under the [Property Allowance](https://www.gov.uk/guidance/income-tax-when-you-rent-out-a-property-working-out-your-rental-income) scheme. 

Property investors can also claim tax relief to cover costs associated with ground rent, council tax, utility bills, and more. 

### Diversification

Property is an asset that consistently increases in value over time. People will always need a place to live, so housing stock (even during periods of economic downturn) will always be considered one of the least risky investments. If you have investments in a range of assets, buying property can help you diversify the risk associated with your whole investment portfolio. 

One of the most important questions to ask is, where should I buy an investment property? Diversifying where you invest in property can help you increase profits as an investor. 

As this article is focused on the UK housing market, we’d recommend researching a range of areas in the country that are thought to be ‘up-and-coming.’ For instance, the East Midlands saw the average price of homes increase by [1.2%](https://moneytothemasses.com/owning-a-home/house-prices-2/what-is-going-to-happen-to-uk-house-prices) in March this year. 

### Leverage

Property investors can use their increasing equity to buy more property, known as 'leverage'. This is key to rapidly expanding your property portfolio. Leveraging can help you get approved for new loans and mortgages if you can't afford to buy properties outright. Investors pose less of a risk to lenders, as they already have tangible assets they can use as collateral for the loan. 

## What are the risks?

One of the key questions to ask when buying an investment property, is what are the financial risks?

Firstly, you should ensure that you don't invest more than you can afford to lose, because you may have to pay unexpected expenses like legal fees, major repairs, and renovation costs. 

There’s also the risk that you’ll be unable to find a tenant for your property. In this scenario, costs can quickly spiral out of control, as you’ll need to cover the costs of loans associated with the property until you find someone to move in. 

Along with mortgage and maintenance costs, you’ll also need around 10% of the property purchase price to put towards expenses like conveyancing, surveyors, and estate agents.

If you're considering getting into property investment for the first time as a UK homeowner, **seek advice from several real estate professionals**. 

The right advisors can tell you exactly what to look out for when buying an investment property, and help you carefully weigh up the benefits and risks to your finances. 

Buying an investment property

Looking to buy an investment property? Let GetAgent be your guide in this essential breakdown. Read more to find out how to make the most of your money.

Ultimate Guide To Buying an Investment Property | GetAgent

It’s often the most charming characteristics that [sell a home](https://www.getagent.co.uk/online-valuation), from historic features such as fireplaces and wood beam ceilings, to beautiful gardens decked with flowers and plants. But what do potential home-buyers look for when it comes to location? What features of streets do people find the most appealing? With so many stunning streets around the world, we sought to find out which ones caught people’s eyes the most. From [London](https://www.getagent.co.uk/area/london/estate-agents) to Kyoto - is it the streets adorned with natural wonders, such as cherry blossoms or bright green trees - or is it the quintessentially British cobbled streets that people find the most attractive?  

To find out which streets have the most kerb appeal, we ran a study using eye-tracking software to reveal which streets around the world caught people's gaze the most. Participants were presented with images of 50 picturesque streets around the world and AI technology tracked their eye movements, revealing which images they found the most captivating. We then analysed the results to unearth the most eye-catching streets around the world. 

## The Top 10 Most Eye-Catching Streets In The UK 

You might think the bright city lights and modern architecture of locations like London may be the most eye-catching, but it was actually the more idyllic countryside streets of Britain that caught people’s eyes the most. Historic destinations such as Bath, Wells and York all made the top ten, ranking ahead of famous streets in the nation’s capital London. 

| Rank | Street           | Location                | Country  | Total views | Avg. fixation time |
| ---- | ---------------- | ----------------------- | -------- | ----------- | ------------------ |
| 1    | Circus Lane      | Stockbridge, Edinburgh  | Scotland | 272         | 3.95s              |
| 2    | The Circus       | Bath, Somerset          | England  | 259         | 3.74s              |
| 3    | Gold Hill        | Shaftesbury, Dorset     | England  | 348         | 3.4s               |
| 4    | Vicars' Close     | Wells, Somerset         | England  | 124         | 3.05s              |
| 5    | The Street       | Castle Combe, Wiltshire | England  | 226         | 2.96s              |
| 6    | Arlington Row    | Bibury, Gloucestershire | England  | 247         | 2.91s              |
| 7    | Elm Hill         | Norwich, Norfolk        | England  | 227         | 2.82s              |
| 8    | The Shambles     | York, North Yorkshire   | England  | 156         | 2.73s              |
| 9    | Main Street      | Haworth, West Yorkshire | England  | 233         | 2.54s              |
| 10   | Chalcot Crescent | Primrose Hill, London   | England  | 230         | 2.37s              |

![The Most Beautiful Streets Around The World - Circus Lane, Edinburgh, Scotland](//images.ctfassets.net/us6n8ous4bz0/6yKnQSoF4Gv9sUfrEzJjcD/5c3c56d2038b7d0f0bf5fdc394f3dae8/Circus_Lane_2-min.jpg)
### 1. Circus Lane, Edinburgh 

When it comes to the most captivating streets in the UK, Scotland reigned supreme, with  Edinburgh’s beautiful Circus Lane capturing people's gaze the most with an average fixation time of almost 4 seconds. If you’re after charming streets, then this lane is one of the must-see areas of the city, with tourists making the trip to the Stockbridge area of Edinburgh to take in the splendour.

![The Most Beautiful Streets Around The World - Circus, Bath](//images.ctfassets.net/us6n8ous4bz0/4bQnlho3SQG4ASXRlMsXe0/df0ae6c49527416aff8b2e8099f30084/the-circus-2-min.jpg)

### 2. The Circus, Bath 

Coming in as the second most attractive street in the UK is the Circus, which is found in the beautiful city of Bath. Viewers spent an average of 3.74 seconds gazing at the stunning street. This historic row of townhouses might be one of the most instantly recognisable streets in England, and is considered to be one of the most beautiful examples of England’s Georgian architecture. Attracting heaps of tourists each year, the street is a must see for those seeking to soak up the historic wonders of the city. 

![The Most Beautiful Streets Around The World - Gold Hill, Shaftesbury](//images.ctfassets.net/us6n8ous4bz0/7Be8r4AeemabJl8XZ974m7/49f9d711b085930b91a6927ee89a8133/Gold-hill.jpg)

### 3. Gold Hill, Shaftesbury

The third most captivating street is Gold Hill, found in Dorset. This quintessentially British cobbled street, with its rows of cottages and vast views across the countryside, is said to be one of the most romantic sights in England. The street itself was made famous after appearing in the 1970s advert for Hovis bread, featuring a young boy pushing a bike with a basket full of bread up the hill. The street today still attracts plenty of tourists, with many choosing to park at the top and take in the views. 

![The Most Beautiful Streets Around The World - Wells](//images.ctfassets.net/us6n8ous4bz0/6pqblnR95VwOTpFvLQOagx/814adcfd7b0f39a13cf59051688d0a07/the-wells-getagent-min.jpg)

### 4. Vicars' Close, Wells 

Located in Somerset, this picture perfect street adjoining the Cathedral is lined with two rows of homes that date all the way back to the 14th century. It’s thought to be the only complete medieval street left in England, and its homes are still used by house vicars, organists and virgers to this day. While it may be found next to a rather beautiful cathedral, the street itself is so stunning that it’s hard for visitors to resist stepping outside and taking a look.

![The Most Beautiful Streets Around The World - The Street](//images.ctfassets.net/us6n8ous4bz0/3XIeUY24RmFTQ9yX17ONNJ/5730de1fce30751c7d82a80561f79ee1/the-street-getagent.jpg)

### 5. The Street, Castle Combe

This idyllic street was the fifth most eye-catching street overall in the UK. The quaint little row of houses, found in the English village of Castle Combe, held our participants’s gaze for 2.96 seconds on average. Located just north of Chippenham (close to the Cotswolds area of outstanding beauty), The Street is a hotspot for tourists hoping to soak up some of the beautiful English countryside views.

## The Most Eye-Catching Streets In The World 

Having looked at the most beautiful streets in the UK, we took a step further and investigated which avenues around the world were the most eye-catching. The top 20 features a mixture of streets from all around the world, all full of natural wonders, historical architecture and charming cottages. Six of the top ten most attractive streets can be found in Europe, with France, Italy, the UK and The Netherlands all featuring. The UK alone has three streets that make the top ten, with Edinburgh, Bath and Shaftesbury being home to some of the most beautiful streets in the world. 

| Rank | Street                  | Location                        | Country         | Total views | Avg. fixation time |
| ---- | ----------------------- | ------------------------------- | --------------- | ----------- | ------------------ |
| 1    | Philosopher’s Path      | Kyoto, Kyoto Prefecture         | Japan           | 550         | 6.2s               |
| 2    | Rue Principale          | Rocamadour, Lot                 | France          | 363         | 4.64s              |
| 3    | Via Baldassarre Galuppi | Burano, Venice                  | Italy           | 252         | 4.22s              |
| 4    | Herbert Baker Street    | Groenkloof, Pretoria            | South Africa    | 256         | 4.17s              |
| 5    | Lombard Street          | San Francisco, California       | USA             | 282         | 4.05s              |
| 6    | Circus Lane             | Stockbridge, Edinburgh          | UK              | 272         | 3.95s              |
| 7    | The Circus              | Bath, Somerset                  | UK              | 259         | 3.74s              |
| 8    | Gold Hill               | Shaftesbury, Dorset             | UK              | 348         | 3.4s               |
| 9    | Lijnbaansgracht         | Amsterdam, North Holland        | The Netherlands | 295         | 3.45s              |
| 10   | Orchard Road            | Singapore, South East Asia      | Singapore       | 218         | 3.31s              |
| 11   | Bourbon Street          | The French Quarter, New Orleans | USA             | 267         | 3.19s              |
| 12   | Cherry Blossom Avenue   | Bonn, North Rhine-Westphalia    | Germany         | 254         | 3.13s              |
| 13   | Quechua Street          | Cusco, Cusco Province           | Peru            | 295         | 3.12s              |
| 14   | Rua do Bom Jesus        | Recife, Pernambuco              | Brazil          | 279         | 3.07s              |
| 15   | Vicars' Close            | Wells, Somerset                 | UK              | 124         | 3.05s              |
| 16   | Rue de l'Abreuvoir      | Montmartre, Paris               | France          | 198         | 2.9s               |
| 17   | The Street              | Castle Combe, Wiltshire         | UK              | 226         | 2.96s              |
| 18   | Arlington Row           | Bibury, Gloucestershire         | UK              | 247         | 2.91s              |
| 19   | Via Torre Belvedere     | Spello, Perugia                 | Italy           | 201         | 2.85s              |
| 20   | Elm Hill                | Norwich, Norfolk                | UK              | 227         | 2.82s              |

![The Most Beautiful Streets Around The World - Philosopher's Path - Kyoto](//images.ctfassets.net/us6n8ous4bz0/7E6uetvfRGGCnq9H90KJyE/812497e4eb49d62b45c46abab52ae116/philosophers-path.jpg)

### 1. Philosopher’s Path, Kyoto, Japan

This two kilometre pedestrian path located in Japan was the most eye-catching street overall, holding people’s gaze for an impressive 6.2 seconds on average - and it’s easy to see why. Adorned with cherry blossom trees that bloom pink in the Spring, only to turn vibrant green in the summer, Kyoto’s Philosopher’s Path is certainly a wondrous sight. 

![The Most Beautiful Streets Around The World - Rue Principale, Lot](//images.ctfassets.net/us6n8ous4bz0/2dud3ZDq7zrwtUe1YwpESZ/8221b6fc51535abd9b57e40d16f884ad/rue-principale.jpg)

### 2. Rue Principale, Rocamadour, France 

This stunning street found in Rocamadour, a small cliff top village in the south of France, sees over a million visitors pass through each year. The region is famous for its sanctuaries and as well as visitors, so the village also attracts a large number of pilgrims. The street itself, Rue Principale, gained 363 views in the study, with participants fixating on the street for an average of 4.64 seconds. 

![The Most Beautiful Streets Around The World - Via Baldassarre Galuppi ](//images.ctfassets.net/us6n8ous4bz0/sK0FDwSB1OEH8sDzetwUR/126331f22c1e240584701ffba1f092d2/Via-Baldassarre-Galuppi.jpg)

### 3. Via Baldassarre Galuppi, Burano, Italy 

This vibrant street found in the Venetian island of Burano is full of colour, so it’s no wonder viewers found it particularly beautiful, having held our participant’s attention for 4.22 seconds on average. Burano itself is known for its brightly coloured homes and intricate lace work industry, giving visitors plenty to admire. 

![The Most Beautiful Streets Around The World - Herbert Baker Street](//images.ctfassets.net/us6n8ous4bz0/2gwjVXUdQt996hoqWA72pL/5f8a9586e6e1afe992f08628627ef030/herbert-baker-street-min.jpg)

### 4. Herbert Baker Street, Pretoria, South Africa 

This beautiful tree-lined street found in South Africa had a total of 256 views, and had participants fixated for an average of 4.17 seconds. The street comes to life throughout the year, showing off its vibrant blossoms. These stunning shades of purple and white really do make the street stand out, so there’s no surprise that it’s one of the top five most attractive streets overall. 

![The Most Beautiful Streets Around The World - Lombard Street](//images.ctfassets.net/us6n8ous4bz0/2IZS0oxpcZm7nlXqjRsnx4/d71db2d5b901e1e57ea152ace24f885c/lombard-street.jpg)

### 5. Lombard Street, San Francisco, USA

Participants found this classic American street captivating, holding people’s gaze 4.05 seconds on average. Set on a steep hill in San Francisco, this street is instantly recognisable as one of the most iconic on the west coast. Featuring eight hairpin turns, cars have to carefully weave their way down the street. Lombard Street attracts masses of tourists each year, all hoping to get a snap or two of the famous road. 

![GetAgent - Worlds most beautiful streets - Circus Lane ](//images.ctfassets.net/us6n8ous4bz0/2tYJJHR6aUAbsQcMynSCAf/9ad6f6f83735fc4be788e8a13fb1c080/Circus_Lane_1-min.jpg)

### 6. Circus Lane, Edinburgh, Scotland 

Likely one of the most photographed streets in Edinburgh, Circus Lane is a real beauty. The lane features terraced mews style homes, adorned with floral details such as hanging baskets, wall plants and colourful plant pots. Gaining an impressive 272 views overall, this impressive lane looks picturesque no matter the weather, with the quirky details and colourful front doors providing plenty of charm come rain or shine. 

![The Most Beautiful Streets Around The World - The circus, Bath](//images.ctfassets.net/us6n8ous4bz0/3j7jUn7PSdpU0ge6oFuANU/07d52ff4ad5a817904394ca33cfa68b1/The_Circus_1-min.jpg)
### 7. The Circus, Bath, England 

Coming in as the seventh most attractive street in the world is the Circus, found in the beautiful city of Bath. Dating back to 1768, this historic row of townhouses might be one of the most instantly recognisable streets in England. Designed by John Wood, The Elder, the Circus is considered one of the most beautiful examples of Georgian architecture and you can see why it attracts masses of tourists each year.

![The Most Beautiful Streets Around The World - Gold Hill, Shaftesbury](//images.ctfassets.net/us6n8ous4bz0/GJhHIzz8YUwiN146M9ea5/36a3b913709573441d6e7aa7b1dda222/Gold_Hill_1-min.jpg)

### 8. Gold Hill, Shaftesbury, England 

Full of English charm and cute cottages, Gold Hill benefits from vast views across the countryside, as well as one of the most romantic sights in England. The street was once used in a British TV ad for Hovis bread, making it one of the most iconic cobbled streets in the UK. As tourists descend upon the town for its picture perfect views and charming features, many opt to catch a glimpse from the top rather than walk up the rather steep hill. 

![The Most Beautiful Streets Around The World - Ljinbaansgracht](//images.ctfassets.net/us6n8ous4bz0/6USpFjWb4R2xnMJGzY4wx4/48bf3a0856588fffc8b9bb921a13c73d/Ljinbaansgracht-getagent.jpg)

### 9. Lijnbaansgracht, Amsterdam, The Netherlands 

The canals of Amsterdam are one of the country’s most instantly recognisable views and Lijnbaansgracht ranks as the ninth most attractive street in the world. Having held our participant’s gaze for 3.45 seconds, and with over 295 views, this pretty street really caught people’s attention. With millions of visitors visiting Amsterdam each year, there’s no doubt visitors pay this street a guaranteed visit when nearby.

![The Most Beautiful Streets Around The World - Orchard road, Singapore](//images.ctfassets.net/us6n8ous4bz0/3qrtAbIC8neVurY6ANiDTZ/34ed1a731faa93de2abf05a633423e5d/Orchard-road.jpg)

### 10. Orchard Road, Singapore

This shoppers paradise is the tenth most attractive street in the study, holding people’s gaze for 3.31 seconds on average, with the bright lights especially catching people’s attention. The mix of colourful baroque houses, al fresco bars and luxury hotels provide plenty to keep visitors entertained as they wander along the street.

If you’re thinking about [selling your property](https://www.getagent.co.uk/estate-agent-fees) in favour of a property on a more beautiful street, our friendly team of experts are here to guide you through the process. Compare the best local estate agents for free using our powerful [Estate Agent Comparison Tool](https://www.getagent.co.uk/vendor).

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## Methodology

A list of 50 streets from around the world was compiled using desk research. A sample of 40 participants were shown a series of images of the streets, and eye-tracking software was used to record the number of times people looked at each image and the duration spent looking at them. The average fixation time was then used to rank each street according to how “attractive” it is. 

All data correct as of June 2022.

The Most Beautiful Streets Around The World 

The Most Beautiful Streets Around The World - Philosopher's Path - Kyoto

Which streets around the world are most beautiful? Read our new eye tracking study to find out. 

The Most Beautiful Streets Around The World | GetAgent

The Most Beautiful Streets Around the World

Setting the right price for your property is no easy task. On the one hand, you want to ensure you make enough money from the sale to move up the property ladder. But on the other, you want to make sure you attract a buyer as soon as possible. 

So when homesellers ask, 'what does guide price mean when it comes to selling a house?' The answer is simple: ‘It’s the price you think your home is worth.'  

But, how do you find out how much your property's guide price should be?

This article explains the meaning of guide prices and how different price points can influence the offers you get from potential buyers. 

## What does guide price mean when selling a house?

A guide price –– whether you are selling conventionally or through a property auction –– represents an acceptable offer to drum-up interest from as many potential buyers as possible. A guide price can be closely related to the property's mortgage valuation. However, it can also be higher (if the seller believes there will be a lot of interest) or lower (for example, if the property needs renovation work). 

In property auctions specifically, 'guide price' refers to the listing price for viewings and auction brochures. It is the minimum price a seller would _hope_ to get for their property. Guide prices can be around 15-25% lower than the average bid sellers expect. 

### Guide prices vs. reserve prices

In auctions, the reserve price refers to the lowest possible price for which the seller would agree to sell the property at auction. In contrast, guide prices at auction are a figure that 'guides' potential buyers into making the best possible offer for your home. 

There’s lots of other guide pricing jargon. Here is a quick rundown of some of the terminology you may hear estate agents use when setting property prices:  

* **Offers in the region of (OIRO):** The seller specifies a price within a specific range of figures. 
* **Offers in excess of (OIEO):** The seller will accept offers exceeding a minimum price. 
* **Bids off the wall:** Refers to an auctioneer giving bids on behalf of the seller for lower than the property reserve price to encourage genuine bidders. 
* **The 10% rule:** In property auctions, the reserve price should be no more than 10% higher than the guide price. If the guide price is listed as a range with minimum and maximum bids, the reserve price must be within that range of figures. 

## What does guide price mean when buying a house?

Guide prices are often used in auctions, but can also appear on conventional property listings. Typically, guide prices generate interest for new properties on the market. But in some cases, a listed guide price can indicate that the seller will accept a lower offer because the property may need renovations. 

Homebuyers may see guide prices on their ideal home and question whether they should make an offer for the same amount or put in a higher (or lower) bid. In these cases, it’s worth researching the local market to determine the average sale price of similar properties and compare the figures to relative guide and asking prices. 

Sellers may accept offers that are lower than the guide price if they want to make a quick sale or if the buyer has no chain and can pay cash. Generally, offering 5-10% below the guide price can open up negotiations. Eventually, the seller and buyer can then agree on a selling price that they are both happy with. 

It's important to note that in England and Wales, you do not need a conveyancing solicitor to place an offer on a property on your behalf. However, in Scotland, you must seek legal advice before making any offers to buy property. 

## What's the difference between asking prices and guide prices?

The most common price found on property listings is called the asking price. Asking prices are determined by many factors, such as the location and condition of the property. Unlike guide prices, asking prices are often fixed (although the seller may accept a lower offer in some circumstances). 

Essentially, asking prices and guide prices are designed to encourage buyer interest. Both prices are flexible, depending on the needs of the seller and the property market. The key difference is that guide prices are more subjective (what the seller hopes to get for their home), while asking prices tend to be more reflective of housing supply and demand in the area, 

## Do properties actually sell at guide price?

Last year around a third of properties in the UK sold for more than their asking price. The same study also found that there's an average of [16 buyers for every property on the UK market](https://www.mortgagestrategy.co.uk/news/buyers-outnumber-properties-by-16-to-1-naea-propertymark/). Therefore, it could be argued that guide prices driven by seller expectations, can accurately reflect market forces in some instances.

Provided you research the market well and set a realistic guide pricing bracket, it’s very possible to sell your property at an optimistic guide price. Make sure you seek advice from experienced estate agents to help you establish your ideal guide price. 

## GetAgent can help you find the right guide price

At GetAgent, we can put you in touch with thousands of estate agents who can help you sell your property with ease. 

Enter your details into our Estate Agent Comparison Tool, and we'll present a shortlist of six talented and professional agents for you to choose from –– so you can hand-pick the service that's right for you.

[Click here](https://www.getagent.co.uk/) to start your property sale with GetAgent today.

What does guide price mean?

What are guide prices and how do different price points influence the offers you get from potential buyers?

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