How accurate are Zoopla estimates?

AlexMac

thanks for the corrections to my post #8... I forgot that you can 'claim' your house and attempt to edit its value.

I forgot becuase I've never done it, as
-a) I don't talk to komputerz
-b) I'm paranoid; and feel that you should never fill in the blanks on Zoopla nor tell people like Council Tax/rating evaluators more than is good for them (why brag that you've added loft extensions, bedrooms and bathrooms to anyone other than a specific prospective buyer?).

But a good point Perelanda and Running Horse; has anyone ever succeeded in talking up their value?

pinkteapot

Their "valuations" are complete nonsense*, but it's useful for looking up sold prices and seeing the listings from when properties have previously been sold (so you can actually see the interiors of houses that have sold in the past for a better comparison).

It's owned by the Daily Mail group, which should tell you everything you need to know.

dominoman

Not accurate at all.

The place we are buying shows as being worth 380k. We are paying far in excess of 600k for it.

System

Zoopla is an otherwise excellent resource but they should remove this feature as it is just rubbish and makes the site look stupid.

cloo

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.

In my area they seem to massively overestimate current prices.

kingstreet

FWIW I find this clearer for sold prices as I have to use it regularly for purchase dates/prices;-

http://www.rightmove.co.uk/house-prices.html

and I use this and get updates regularly for my own area;-

http://www.ourproperty.co.uk/

although you do have to register for the detailed view on the latter.

andrewf75

Rubbish. Just checked mine and it says 350k. True value is about 270

Perelandra

AlexMac wrote: »

But a good point Perelanda and Running Horse; has anyone ever succeeded in talking up their value?

Yes- my post is factual, although exaggerated.

I bought my house as a serious do-er upper about 4 years ago. Over the first year, I renovated the house (new bathroom, kitchen, windows, electrics, plastering, flooring, doors, heating system etc), and entered the £ amount I spent into the information on Zoopla.

My house value estimate was increased almost exactly £ for £ with the amount I'd spent on renovation. I was very surprised at that, since I was expecting- at absolute best- maybe half that value as in increase in property value.

Hence my personal cynicism with the value estimate.

Frazer

Another anecdote. I was curious to know how much difference the "Decorative Condition" made to the price estimate. So, I changed mine from the lowest grade, "Needs modernisation", which is a true description of the house, to the highest, "Newly refurbished". This increased the price estimate from 300k to a whopping 303k. I suspect it would take more than 3k to get my 1968 time capsule up to modern standards. Therefore I'm not convinced that the details that you fill in are accurately factored into the estimate.

And yes, Zoopla, I did change the description back again after the experiment.

robatwork

Zoopla count the number of blades of grass in every garden, then divide by the house number to arrive at their valuation.