How to read sold house prices (and avoid the common mistakes)

By Chris Pollitt · Last checked 6 November 2026 · 2 min read

Sold prices are the most reliable guide to what homes are worth, because they record what buyers actually paid, not what sellers hoped for. But the raw figures need a bit of care. Here's how to read them properly.

Where the figures come from

Every sale price on MyStreetCheck comes from HM Land Registry's Price Paid data. When a sale completes, the buyer's conveyancer registers it, and the Land Registry publishes the price, date, address, property type (detached, semi, terraced, flat), whether it was new-build, and whether it was freehold or leasehold.

What's not included

Sales that weren't at market value, such as homes inherited, given between family members, or transferred in a divorce.
Some sales by companies, repossessions and buy-to-let purchases, which may be recorded in a separate category or not at all.
Very recent sales. Registration can take weeks or months, so the newest sales appear later.
Size and condition. The record doesn't say how many bedrooms a home has, how big it is, or whether it was a wreck or newly renovated.

Why averages can mislead

An average price for a street or town is pulled up or down by which homes happened to sell. If a big detached house sells on a street of terraces, the average jumps, even though nothing has changed. In a quiet year with only two or three sales, the average can swing wildly.

So when you see a big rise or fall, look at the individual sales behind it before drawing conclusions. Compare like with like by property type, and look at several years rather than one.

Using sold prices to value a home

Find sales of the same type of home on the same street or very close by.
Prefer recent sales, ideally from the last 12 to 24 months.
For older sales, adjust for price changes since, using the House Price Index for your council area.
Adjust for differences you know about: extra bedrooms, extensions, parking, gardens and condition.
If the home itself has sold before, check its own history. Repeat sales of the same address are the best guide of all to how values have moved.

Asking price versus sold price

Asking prices on property portals are what sellers want. In a strong market, homes often sell at or above asking. In a slow market, they may sell well below. Comparing asking prices with recent sold prices on the same street tells you a lot about whether a home is fairly priced.

New-build premiums

New-build homes often sell for more than similar older homes nearby, partly because of incentives and the appeal of something brand new. When they're sold again a few years later, the price sometimes falls back towards the local level. Bear this in mind when comparing new-build and older sales.