How seriously do people take Zoopla reports?

Marshflower

Afternoon all.
We are hoping to put our house on the market in the next few weeks and having researched similar properties in the area, I think I have a fair idea of what it's worth.
The issue I have is that the only 2 recent purchases on my road of this type of bungalow were mine (a semi) and a detached up the road. These were bought in 2007 and 2010 respectively and both for relatively very low prices. The detached one basically had to be rebuilt as it had been empty for a very long time and was in a terrible state, and ours had to be gutted as it had also been empty for some time and hadn't been updated since the late 60s / early 70s (original bathroom, kitchen etc).

The result of this is that the most recent "sold" prices have no reflection of the real value of the area.
Will people be mislead by this? How much stock do they put in Zoopla information?

N1AK

Marshflower wrote: »

Will people be mislead by this? How much stock do they put in Zoopla information?

A lot of people these days will be aware of, and check, Zoopla/mouseprice sites for properties they are viewing. I used them to get information like if someone was likely to be flexible on pricing (FTB at peak near negative equity wouldn't drop prices much for example).

Personally I use the Zoopla price as one of many factors not gospel truth. If you have a genuine case of underpricing then I wouldn't worry too much; just be careful not to ignore data because it doesn't fit with what you want. Other streets will often have cheap sales etc and Zoopla accounts for area, property size etc not just sales on that street in the last couple of years. If the Zoopla price is considerably lower than you think it should be then try and see if you can find any other reason why.

gazter

go into zoopla and modify the price, put the added kitchens etc etc and the price will bump up.

Marshflower

Thanks N1AK. It was more thinking about the "sales of nearby properties" on the road which is the bit I always check and, as I say, the only 2 really applicable sales in the last 10 years are mine and our neighbours. I know those were both genuinely underpriced. Hopefully I can get the EA to write a bit in the blurb about how it's been modernised but kept original features etc. Hopefully that would explain previous sale price.

N1AK

Marshflower wrote: »

Thanks N1AK. It was more thinking about the "sales of nearby properties" on the road which is the bit I always check and, as I say, the only 2 really applicable sales in the last 10 years are mine and our neighbours. I know those were both genuinely underpriced. Hopefully I can get the EA to write a bit in the blurb about how it's been modernised but kept original features etc. Hopefully that would explain previous sale price.

The fact few people sell is also generally seen as a bonus, neighbours are more settled and probably like the area (or it is a council sink estate ).

You seem to have the right idea. If the you and your agent are both aware of the price disconnect then you can re-assure any buyers who bring it up

Marshflower

Thank you Gazter, I didn't know you could do that!