Zoopla question

rilou81

Hi

Our house went up for sale last week. I had been doing a lot of research in the area and got 3 estate agents in.

We did not go for the highest valuation as we wanted to price for the current market.

My question is that I have recently looked into what Zoopla values my house and its a much lower price. With this info I valued other properties in the area (Inc. ones that have sold near asking price recently) and all of them also came up MUCH lower!

I also valued houses we are looking at and ones that have sold in that area and again the same - a much lower valuation.

I have come to the conclusion Zoopla is not very accurate, surely not all areas and all houses are valued wrong-what are other peoples views?

Surely if houses are going on the market AND selling the valuations are incorrect????

I am asking from a sellers pov but also a buyers, thanks x

paddedjohn

At the end of the day,a house are only worth what someone will pay for it.
A lot of the so called valuation sites dont ctually see the house so are just guessing

Catblue

Nationwide House Price calculator is a bit of a better guide. It is based on sold prices only, so obviously if you've added a 16 bed extension since it was last sold then it has no way of taking the value of that into account.

http://www.nationwide.co.uk/hpi/

If you put in what you paid for the house, when you bought it, which area you are in then it will calculate purely on the percentages that the local market has gone up/down since then.

Also have a look at the actual sold prices on rightmove. That will give you a much better idea of things that are actually selling.

Opinion

Catblue wrote: »

Nationwide House Price calculator is a bit of a better guide. It is based on sold prices only, so obviously if you've added a 16 bed extension since it was last sold then it has no way of taking the value of that into account.

http://www.nationwide.co.uk/hpi/

If you put in what you paid for the house, when you bought it, which area you are in then it will calculate purely on the percentages that the local market has gone up/down since then.

Also have a look at the actual sold prices on rightmove. That will give you a much better idea of things that are actually selling.

Also take in to consideration that Rightmove doesn't show the price the property was sold at, just the price it was marketed at.

john_white

Opinion wrote: »

Also take in to consideration that Rightmove doesn't show the price the property was sold at, just the price it was marketed at.

No it shows sold prices.

Opinion

john_white wrote: »

No it shows sold prices.

Um. Since when? Not very logical to show sold prices on a website that markets your property, as then everyone knows exactly how much they have to pay to secure said property, meaning they can offer knowing they'll be accepted should the sale fall through, or offer slightly above what's supposedly been accepted... meaning it's not in the vendor's best interests. I'm almost certain it just tags "SSTC" in the corner...

Catblue

It does show sold prices.

Go to rightmove, then click on House Prices (near the top right) and then click on Find House Sold Prices. Enter the first part of the postcode you want and it will come back with a list of streets and sold prices.

These sold prices are actual sold prices from the Land Registry.

Mum_of_3_3

Zoopla is imho rubbish at valuing properties, so I wouldn't worry about it.

M_o_3

googler

So what if Zoopla's estimate is wrong?

Nobody whose opinion is of any consequence will care. Why should you?

Zoopla is fine for SOLD prices, but it has no info on condition, modifications/extensions, property type, etc - so it's only guessing.

Catblue

OP, I have just noticed that Nethouseprices has updated its sold prices to reflect all sold prices up until the end of October 2010.

Rightmove is only showing those sold prices up until the end of September 2010 (they obviously haven't updated the latest prices just yet), so Nethouseprices will give you last month if you want to check what's sold in the last month. Maybe Zoopla has also updated its sold prices also in which case Zoopla is fine to use just for looking at actual sold prices.

Again, all of this is Land Registry data.

john_white

Opinion wrote: »

Um. Since when? Not very logical to show sold prices on a website that markets your property, as then everyone knows exactly how much they have to pay to secure said property, meaning they can offer knowing they'll be accepted should the sale fall through, or offer slightly above what's supposedly been accepted... meaning it's not in the vendor's best interests. I'm almost certain it just tags "SSTC" in the corner...

Since about 2006.

You'd do well to offer on a property that has been sold, it's unlikely the new owners will want to sell so soon for the same amount as you suggest.

Besides if someone is on rightmove it's also probable they can type in another website for sold prices if they so wished. I find it hard to believe you didn't know you could see sold prices online.

You may be almost certain but I am 100% certain it does and has done for some time.