Is Zoopla accurate?

snodgrass

We have our house on the market for £90000.These figures were based on 3 estate agents views and comparing on Zoopla.We have been looking at Zoopla for months now.For the last 2 months our house has been valued at about £90-95000.The last time we checked,2 weeks back it was about £94000.Why 2 weeks later is our house now only valued at £86000.How can it go down so much in such a sort space of time.We based our asking price upon Zooplas figures.IS ZOOPLA ACCURATE?


http://www.youtube.com/watch?v=39flEoS8o-Y

PasturesNew

No it is not accurate. All it does is takes the last price a house sold at, then applies one of the "up or down" price indexes to it.

It's a guesstimate, based on just those two things:
- last price sold at
- the average up/down movement since that date

It doesn't take into consideration anything else at all. It could have been a wreck or burnt out and now double the size. It could have been 2 days away from repossession and now upgraded. It could have been bought spotless but now a wreck.

It is as accurate as a Horoscope in a newspaper.

snodgrass

I only ask,because when you go onto any of the property sites,they always have a link to Zoopla or Mouseprice to compare prices.So,obviously,people viewing see our asking price then go to Zoopla,and will think "are they joking"

Sweetcaz_2

I think most people realise it is not particularly accurate. I have been looking at it alot recently and looked to see what mine was worth compared to identical houses in my street and it varied quite a bit!!

I would be guided more buy what the agents say and what other similar property is currently on for.

It is good for seeing what your neighbours paid for theirs though, LOL!

googler

snodgrass wrote: »

I only ask,because when you go onto any of the property sites,they always have a link to Zoopla or Mouseprice to compare prices.So,obviously,people viewing see our asking price then go to Zoopla,and will think "are they joking"

Yes, but you're not comparing prices - you're looking at Zoopla's guesstimate of the value of your home, which is a guess based on sold prices, price progression, and is calculated by a computer program. This computer program hasn't seen your house, the area, the town, and can only be of limited use.

Zoopla is perfectly accurate, on the other hand, with its sold prices. These are provided to Zoopla, Nethouseprice, Myhouseprice, etc by Land Registry or Registers of Scotland, and barring actual errors on the part of solicitors registering the prices, and errors in transmission, they're spot on.

not_loaded

Agreed, it has its uses.

Essentially you have to interpret it, and ignore some of it. Local to us I know almost everybody for ten houses around and their history.

Probate property, repo houses etc, are not portrayed correctly at all and for zoopla they’re all thrown into the mix. The old computer saying GIGO applies: garbage in, garbage out.

What you may find if selling, is a ‘smart’ viewer asking why is it so much more than zoopla? You might as well be ready with an answer.

olias

I live in one of a neighbouring pair of identical new builds built about 2 years ago. Only difference is mine has a larger courtyard. Mine is shown as £185000 on zoopla and next door shown as £215000!

Accurate? I think not!

And it's not just zoopla, I looked on another site (I forget the name now) which showed it should be worth £297000:rotfl:...I wish!

Olias

googler

not_loaded wrote: »

What you may find if selling, is a ‘smart’ viewer asking why is it so much more than zoopla? You might as well be ready with an answer.

The answer down my way would typically be

"What's Zoopla?"