How accurate is Zoopla?

baskerville_2

Any ideas on how accurate Zoopla is with regards to property value? Our house is on the market and zoopla is pretty accurate with regards to what ours is on the market for give or take or few grand. However, when i've looked at properties that we would might be interested in a lot of them are on for a lot more than the zoopla estimate - any where between 30k-50k so I just wondered if how accurate it was or are people just overpricing?

Itismehonest

Wildly inaccurate in my area & by much more than £30-£50K.

I think it depends on the sort of area involved.
If it's urban or large estate where properties have had a fairly high turnover then they probably get it nearer. In an area where houses are of a more individual type & where only a few properties sell across years Zoopla is way out.

googler

Figure out your own estimate for the area you're buying in by reference to Zoopla's Sold prices - these are, broadly speaking, spot on and consistent with other sold price sites such as ourproperty and nethouseprice.

You can tell what the different styles of houses are in your target street or area. You can see which have been extended and/or modified. Zoopla can't.

Panda78

Zoopla prices seem correct to me - in that the value is in line with what i would expect to pay. When comparing with properties i'm viewing, the vendors are adding an extra 10-20K, which i'm presuming is in the region of what they expect to be knocked down by eventually.

19lottie82

Don't rely on Zoopla. It may provide accurate figures in some areas, but it also provides a LOT of VERY innacuarate ones.

I paid 105k for my 2 bed flat in 2009, after it was valued @ 110k by 2 different valuers. A few months ago, one similar, but slightly smaller, sold in the next block for 110k.

I entered my details in to Zoopla recently and it told me my flat was worth 55k! That wouldn't buy you a 2 bed flat in the city I live in, apart from the worse (and I mean VERY worse) areas.

Running_Horse

Use the search button at the top of this forum page.

Enter "Zoopla" and "rubbish".

cattie

Agree that Zoopla=rubbish. There may be the odd property that it can come up with a close valuation/sale price for, but they are very few and far between. Normally their estimates are way under what a property's true value is.

theGrinch

one EA recently told me that it you are prepared to take "ownership" of a property and enter as many details as possible then its reasonably accurate. I still have an open mind on it though.

hazyjo

It overvalued the house we bought by over £100k (I seem to remember it was nearer £200k but was a while ago now). It can only do a mathematical calculation on the sale price of other nearby properties along with local market conditions.

The people we bought off had it from new, and nothing similar in the street had sold. The 'value' was wildly inaccurate. Funnily enough, because of what we paid, the 'value' has now dropped to around that figure.

Jx

vectistim

theGrinch wrote: »

one EA recently told me that it you are prepared to take "ownership" of a property and enter as many details as possible then its reasonably accurate. I still have an open mind on it though.

I've tried that with a number of properties and it still doesn't come out with a sensible figure.
I find its rental estimates even further out than the valuation estimates.

Ivana_Tinkle

Zoopla's estimated value for our house is £85k less than the price it's currently under offer at!