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I researched a property using Zoopla, amongst other sites, when deciding to make an offer on a 3-bed property. The valuation from Zoopla came in at £179,000 but the house was priced at £225,000. Because I'd been looking for a while, so had a reasonable knowledge of local market, and had jsut pulled out of another property (2-bed) which Zoopla had valued at £175,000 but mortgage valuation came in at agreed offer price of £190,000, I made my own mind up.
Final offer accepted was £213,000 on 3-bed, again agreed by morgage valuation (to great sighs of relief). Quite a lot over Zoopla valuation.
Obviously, can't say that would be the case with all properties. Just my recent experience.
Zoopla values my neighbours house at £215K and mine at £180K. They are identical adjacent new build semis built only 2 years ago, but mine has a larger garden! So no, it is not accurate
Zoopla does not take into account, how much money has been spent on home improvements, and only if someone has adjusted their zoopla, you can get a near enough price. Where I live they are way out, and my house was £170 on zoopla and I adjusted my home improvements, and they changed my value to £240, and my house sold for £215. I put my house up for £220, as I knew that zoopla was wrong at £240. I only use it to find out how much property was purchased, and then take into account the work been done, or needs to be done. Its good that way to work out how much to offer!
Last edited by babygeorge; 03-11-2009 at 8:30 PM..
Zoopla is definitely not to be relied on.
In my case it showed an estimate of 390, when Mouseprice values at 333, which is probably best would acheive in current market ( quite an acheivement to be that accurate actually as no houses are remotely the same round my way).
Arf. Never looked before. There is a street of more or less identical terraces near me. The values are given as between £88k to £188k. No way you would get one for the lower price, or be asked the higher one. What a pointless website.
Nobody ever said on their deathbed, I wish I had spent more time on Facebook.
I couldn't resist having a look at how much ours would be worth!! Was a little higher than we would say in current climate but only £5k over so not too bad!!!
But as everyone says...you only get what someone is willing to pay for it.
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Zoopla can't take account of selling prices where a builder paid a low price for a renovation job, nor can it take account of oddball sales to sitting tenants, relatives etc etc where a below market price was agreed. For some reasons, a lot of transactions still don't appear on the Land Registry site from which Zoopla takes its information. The indexing forward from old transaction dates is hopelessly inaccurate. You shouldn't rely on Zoopla whether you are a buyer or seller. Get a current valuation from a professional, or rate your own property by looking at rightmove.co.uk and positioning your house between what you think are slightly better or slightly worse properties.
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