How accurate are Zoopla estimates?

LiveOnce

Hi all,

A question for experienced property sellers, buyers, hunters - how accurate are Zoopla estimates for a property?

This is in their Current Values section where they give you estimates for an area and even for a house.

anselld

LiveOnce wrote: »

Hi all,

A question for experienced property sellers, buyers, hunters - how accurate are Zoopla estimates for a property?

This is in their Current Values section where they give you estimates for an area and even for a house.

Not particularly accurate.

somethingcorporate

This has been asked a number of times before - trying using the search function in the top right hand side of the screen.

The bottom line is as per post 2, they are pretty useless.

Running_Horse

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

I love the fact that Zoopla comes up as Zooplankton on spellchecker.

goodmorningsunshine

anselld wrote: »

Not particularly accurate.

I would second that.

eg; my neighbour was left 50% of the property, and bought out the other 50% from the relative it was left to.

Meaning she paid half the property value.

Zoopla states it is only worth the 50% they paid plus % it has gone up in the last year

Mine - it states it is worth what I paid (at auction) plus %for inflation, which is 30,000 less than its actual value.

So as Anselld states; Not particularly accurate.

somethingcorporate

I have a flat in a block of identical flats. Zoopla thinks some of them are worth more than 50% higher than others (identical ones). I'd suggest the margin of error in some of their valuations is more than this.

rfsk2010

Zoopla said my property was worth 237000, I got a valuation from an expert and they valued at 275000.

So i would say very inaccurate.

AlexMac

I'm a fan of Zoopla, as I find their features more useful than other proporn sites... especially the tricky little graphs tabs...but to reply to the OP...

As useful as you want them to be.

The absolute data - that is, sold prices and 'H- property history' (what price its been on sale/rent for) is just that- absolute.

the 'current value' is just formulae or algorithm; A (sold price) x B (time elapsed since A) x c local postcode inflation trends = D (notional current value).

of course its as accurate as any geek stuff- but... What's the alternative? No data? Shoot the messenger?

Use it only if it helps you; for example, on my last couple of purchases I've tried it on to get a reduction by arguing the 'website sez overpriced...' (if it works in my favour - or kept schtum if not...

Its a website... get over it

Perelandra

AlexMac wrote: »

the 'current value' is just formulae or algorithm; A (sold price) x B (time elapsed since A) x c local postcode inflation trends = D (notional current value).

Unless it's changed, it also adds an amount equal to the amount you've spent refurbishing it which you- the owner- can enter.


I've spend £1.5million on my £50k house* since I bought it, so as a result I can advertise it for sale at a cool £750k and claim it's half of Zoopla's estimate on my Rightmove advert....




* I wildly exaggerate, of course!

Running_Horse

There have been people on here who have spent money on improvements, told Zooplankton, and their estimated value has gone down. So in theory you can influence it, but it would be risky, and as long as you are not selling at that moment, who cares?

MobileSaver

LiveOnce wrote: »

A question for experienced property sellers, buyers, hunters - how accurate are Zoopla estimates for a property?

They're not accurate and in many cases are a joke. Anyone trying to use Zoopla's "valuations" when negotiating with me would be laughed out of the room.