How reliable is Zoopla for valuations?

DON79

Hi everyone, just a quick question.

According to Zoopla. my house is about £1000 in negative equity. Is this a reliable estimate?

If not, can you tell me if I can get a reliable estimate online?

Thanks very much.

abaxas

They are bit 'behind the curve'.

If you take my locality the zoopla index is roughly equal to asking prices.

IE the price you would probably obtain is about 5-10% lower than that.

fatpig_2

They're about as competent as your average estate agent,

Jorgan_2

They over valued my property by about £40k from memory.

Incisor

The few times I have tried it, it has borne little relation to reality. In the spring, IIRC, it seemed to be projecting a continuation of trends from 6 - 9 months prior, despite good evidence of the market being static or falling from autumn 2007.

DON79

Ok, thanks everyone for the replies. Guess will have to take their valuations with a pinch of salt then!

neverdespairgirl

I'd look at sold prices locally, from Land Reg data, but bear in mind that the market has continued to fall since then.

DON79

Yes I have checked that too, hasn't been a house sold in our street since October 2007 I think, at least not on the land registry. One of our neighbours did try as she was emigrating but it wouldn't sell- she had it for sale for about £140K and she dropped the price couple of times. She ended up letting it out instead so that she could emigrate.

Kez100

No good down here as every house is different and, by different, I mean incredibly so. We have places that go (on a good day) for £140 but my neighbour would easily be £450; we are somewhere in the middle. You have to live in an area where there are at least similar properties. Most estates have apartments and maisonettes alonside detatched homes. I don't know how accurate zoopla can be in those cases.

cupid_s

according to zoopla my house is worth about 80% higher than the last valuation and about 70% more than any house on my road has ever gone for. Surely they must make up some of the prices!

DON79

All houses in my street and area mostly the same (ex-council), and some small four in a block flats and oap bungalows.

It was an area that was really growing for a while before the credit crunch started. We got a bit of a bargain really when we bought so we only just gone into neg equity compared to some of the neighbours who have been there for the past six months or so. Well, it's a bargain if you don't count a dodgy roof, equally dodgy kitchen and turqoise bath suite with 1960's green patterned tiles slowly being painted white :eek:

but hey, we have room for much improvement!