Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • bertiewhite
    • By bertiewhite 15th May 17, 3:22 PM
    • 336Posts
    • 315Thanks
    bertiewhite
    Zoopla estimates
    • #1
    • 15th May 17, 3:22 PM
    Zoopla estimates 15th May 17 at 3:22 PM
    I bought my house for 135K 18 months ago, and it had been on the market for 145K.

    When I checked the Zoopla valuation estimate last month it stood at 181K (admittedly, I was rather sceptical) and a quick check this morning says 154K. What is going on?

    I know the market fluctuates but given that the last time I re-mortgaged, the valuation just so happened to be exactly what Zoopla estimated, shouldn't they be a bit more stable in their "guess"?
Page 2
    • bertiewhite
    • By bertiewhite 17th May 17, 2:03 PM
    • 336 Posts
    • 315 Thanks
    bertiewhite
    Normally when remortgaging the applicant is asked by the lender for an estimate of the value of the property.
    Originally posted by Surrey_EA
    I have always been asked for an estimate of what it's worth but they've never taken any notice.
    • teddysmum
    • By teddysmum 17th May 17, 2:29 PM
    • 7,444 Posts
    • 4,377 Thanks
    teddysmum
    One in our section of the estate a house sold for 105000, last year, needing a quick sale and badly in need of new windows, kitchen, bathroom and drive.


    A developer is doing it up ,but it's nowhere near finished and the price has jumped to 150000, with the only obvious outside work being one new window , front door and a garage door. The drive is still a mess.


    However, one a few doors away, same design and nicely presented, is only estimated at 140000. (None are actually for sale).


    Other houses, which have sold recently are of a different larger design, so probably have upwardly influenced these way out estimates, as have sought after bungalows.
    • 2013yearofthehouse
    • By 2013yearofthehouse 17th May 17, 2:35 PM
    • 1,970 Posts
    • 35,693 Thanks
    2013yearofthehouse
    I would think the accuracy of the Zoopla estimate can vary greatly based on how many similar local houses have been sold and how recently?

    A neighbour of ours sold their house last year and before putting it on the market had done some online research and were convinced they'd be looking at 450k or more (for example, the Zoopla estimate was 480k). They were rather disappointed when the estate agents were coming back with suggestions of 370-380k, so they put it up for sale at 385k, but it sold 6 months later for 370k. The zoopla estimate is now 378k (same for all houses in our road), so presumably far more accurate (for their house at least, some of the others have differences so will be worth more or less accordingly). The reason it was so far out before, was probably because it was the first house in our road to be sold in nearly 20 years! We're on a housing estate, but many of the adjacent road houses, that have been sold in last few years, are either terrace or semi detached (our road is all detached) and they are mostly on a through road, not a quiet cul-de-sac that we are.
    • Tiners
    • By Tiners 17th May 17, 4:11 PM
    • 82 Posts
    • 90 Thanks
    Tiners
    You seem to be saying Zoopla is always under selling price. Overvalued my last house by 150k-ish. I've found it to be way out. Maybe because of the very different housing stock and desirability of one road compared to a very nearby road. Who knows. Obviously it's different for everyone, I'm only speaking for me. Some sellers are delusional, yes. But many houses have sold near me for way over their Zoopla valuations (over 100k difference with some).
    Originally posted by hazyjo
    No I'm not saying Zoopla is always under market value, just saying it's usually within 10-20% above or below market value... unlike most vendors (in my area at least) who seem to put their properties on for 40-50% (or even more) above market value based on other recent comparable sales.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,974Posts Today

12,642Users online

Martin's Twitter
  • The strange thing with a 4yr old is having to play & smile while inside feeling sick for those in trauma in my birth town #Manchester

  • Just a quick ta-ta for now. I'm taking the week off for family time with mini and Mrs MSE. So I won't be here much. Back after the bank hol

  • Ugh another one trying it! Beware https://t.co/Ab9fCRA76F

  • Follow Martin