Zoopla, how accurate?

googler

nancyo wrote: »

How accurate is Zoopla for estimating house valuations?

You'd be best off doing your own estimate based on the SOLD price data from Zoopla.

Look up the sold prices for houses in your street, neighbourhood, area, and extrapolate from those.

Greatgimp

A valuation is worth diddley squat anyway. It's somewhere between what you want and the buyer will part with. Pick a figure... any figure.

FCRangers

Would you say mortgage compaines use Zoopla when valuing a property for a remortgage?

johnthebar

I would hope they don't

The property I'm buying at the moment was on the market for £270k we offered £250k and the valuation survey agreed with £250k.....Zoopla has it down as £146k with a medium to high confidence level. In this case it's balls

loracan1

Running_Horse wrote: »

Search this forum for "Zoopla" and "rubbish".

Zoopla really is rubbish.

If you looked up 'zoopla' on this forum the 'rubbish' would appear as default.

My non-existent crystal ball and I can give a more accurate valuation.

geoffky

anoneemouse wrote: »

Not very.

I checked my own road and the prices houses sold at vary pretty widely and its not possible to see the price my house would be.

One has just gone in my road for tens of thousands less than I would put mine on the market for - I estimate it must have been a tip and I think it has 2 rooms less than mine (but they look the same size from the front). The overall impression from Zoopla is that my house price would be£15,000-£20,000 less than it actually would be and I have worked out exactly in comparison with similar houses in every type of area (cheaper, similar and dearer areas).

every seller thinks like you...until the reality sets in......dream on

why must it be a tip ?

Grinaldo

My limited experience of Zoopla valuations is not very (try telling my father that though!)

My issue with it is that because it is based on previous sale prices is assumes that those prices were correct. (i.e. if someone paid over the odds previously this would then give you an inflated valuation now and vice versa if someone got a great deal previously).

Limara

I agree dont rely on them no idea what they base anything on my joining neighbour put in a " stupid" offer of 165000 on a house for sale at 205000 they didnt really want the house and not thinking they would ever be accepted! and the vendor was so desperate to sell she accepted that was 2 years ago house prices have fallen dramatically since then and now zoopla shows this property at being valued at 194000, ( so they cant go on last sold price at all! )
A similar property further up the road ( just minus the cellar) recently struggled to sell for 150000 and they spent several thousand from when it went up for sale to when it actually sold desperatly replacing the kitchen to a total dream with every appliance fitted in which must have cost thousands!

We did have one isolated sale in the road in 2007 the highest ever price made of 219000 within a few houses to us the seller just got lucky and did it at the right time I think all the sales around that have been based on the price of that property ever since, mine is showing as 194000 and I would say 160000 would be the absolute max I could hope to get.

tyllwyd

I had a look at a small close of six houses where I used to live - when we moved there they were only a couple of years old so it was quite obvious which were the bigger & more expensive houses and how the prices would relate to each other. Now the valuations are all over the place depending on what year they sold.

By the way, if there is a house which shows the recently sold price in orange, have you tried clicking through to the details? That shows you what the Zoopla valuation for the house was, which as far as I can see is usually much less than the actual sold price.

anoneemouse

geoffky wrote: »

every seller thinks like you...until the reality sets in......dream on

why must it be a tip ?

Actually - I started from the viewpoint that my house IS a tip - because it is by my standards.

Other people since have been telling me how nice it is and how much better than other similar houses.

In that case, then I think the overall standard of houses like this must be very low indeed.

I've been checking some of them out and found things like front door going straight into sitting room on quite a few, no dining room on many of them (but neither the kitchen or sitting room are big enough realistically to be a dining room as well), lots of outdated things needing ripping out (those awful stone 1970s fireplaces anyone or the even worse 1930s tiled fireplaces?).

So, going by other peoples estimate of the standard of my house, I have been astonished and pleasantly surprised at how desirable my house is deemed to be by them. I think my standards must be much higher than most peoples are.