Web Site Lifts the Lid on House Prices

1st February 2005

T. Wyn Jones

From February this year private individuals are able to find out the price that their neighbours paid for their home.

For the princely sum of £2.00 you can log on to the Land Registry’s new online service, which holds the key to the information on all property sales in the UK, and download this information. But not only does the site allow you to establish the sale price you can also check the position of the boundaries and for example ascertain as to whether there are any restrictions on the property, say as to the use.

Previously you would have had to write to the Land Registry outlining the property in question and requesting that they check their records - a time laborious task. But now with the advent of web technology enquiring minds can establish for themselves this information by logging on, entering the property address and submitting the details of their credit/debit card.

It is hoped that this online service will speed up sales, also some quarters feel that it should stop buyers paying “over the odds” in a buoyant market

The service has been trialled since 2003 and has on average attracted 1,500 searches a day earning more than £1m in fees.

Taking this concept one step further is a web based business aimed at the property professional that has bought this information from the Land Registry and that (for a monthly subscription fee) allows you to check their site and download the property prices for whole towns - in one click.

It appears that in this day and age computer technology and accessibility are the buzzwords yet I wonder how many people have the time and inclination for that matter to log on and pay their £2.00 and find out how much their neighbours really sold their property for?