Zoopla gone mad?

domcastro

Since this morning, all the properties I've been checking for sold prices have suddenly gone up 20 - 30k (10%-12% increase). This is in Surrey. Out of interest, I looked at my house estimate in Zoopla and it also has gone up 20k (11% increase)

What's this all about then?

MrRee_2

If you are in the South then Zoopla is just reflecting what is happening on the ground ..... there is a boom taking place!!

poppy10_2

Zoopla has always been a complete joke. Nobody takes its valuations seriously.

breadlinebetty

domcastro wrote: »

Since this morning, all the properties I've been checking for sold prices have suddenly gone up 20 - 30k (10%-12% increase). This is in Surrey. Out of interest, I looked at my house estimate in Zoopla and it also has gone up 20k (11% increase)

What's this all about then?

Maybe they update every 6 months or something? They can't update daily I suppose. Which would account for any 'sudden' jumps.

Don't forget, Surrey and London property is very different to that putside of the south east. Whereabouts are you?

aggypanthus

Ignore the valuations, its the same with Scotland, they dont reflect real prices!

Running_Horse

No one has said the R word yet. Rubbish.

domcastro

Thanks - it must be the end of year update - must have happened whilst I was viewing. My house is in Poole and also had the large increase. I'm viewing houses today and the changes have "mucked" my figures up now! (one house was on the market over 10k more than the over-eager Zoopla estimate, now it's about the same)

poppy10_2

breadlinebetty wrote: »

Maybe they update every 6 months or something? They can't update daily I suppose. Which would account for any 'sudden' jumps.

Actually you can cause sudden jumps (or falls) in the valuation yourself just by entering additional information on the "refine estimate" link next to each property listing. It seems to take whatever you enter as gospel and will update the valuation of the house (and in some cases the whole street) depending on whatever you choose to put in.

More here:
https://forums.moneysavingexpert.com/discussion/3145588

pinkteapot

poppy10 wrote: »

Zoopla has always been a complete joke. Nobody takes its valuations seriously.

Absolutely. It values our next door neighbour's three-bed house at £10k more than our four-bed house. The houses are both detached, same size garden, same age, neither has been extended or anything.

The only reason it values our larger house at less is that we bought it last year at a knock-down price (desperate sellers and a tatty interior) and it's automatically calculated the value as what we bought at minus the drop in the market in our area since then. Our neighbour has owned theirs since 2003.

It also values our next door neighbour's three bed at £40k (21%) more than the three bed directly opposite which is an identical house. Admittedly our neighbour has a south-facing garden while the one opposite is north-facing but I don't think that adds 21%. :rotfl:

I would use Zoopla to tell me what a house should cost to the nearest £100,000. Actually I wouldn't. I'd just look at recent sold prices.

pinkteapot

Running_Horse wrote: »

No one has said the R word yet. Rubbish.

Randomnly generated house valuations?

nollag2006

I've just checked my own properties in there - main home has been revised up to what was very close to the last EA valuation. Pleased to see its well above the 2007 level.

My BTLs were all overvalued in zoopla, and have come down a couple of percent. I still think their valuations are a little toppy though.

Best to use Zoopla alongside mouseprice.com, and propertypriceadvice.co.uk to get a reasonable set of data points