Zoopla's ridiculous valuations!

Ladyjane26

Our previous house had a Zoopla valuation of £20k less than the exact same house next door. As we were moving I contacted them to request a revaluation to get the two houses to be valued similarly as didn't want any potential buyer to use this tool as a bargaining point. (Both houses were on a 4 year old development, with no additions or changes made. The only difference being that next doors previous sold price was £20k different and they had moved in 2 years previous to me). However, Zoopla told us that they used a 'secret algorithm' and were unable to change their valuation. Moved in December 2015 and our new house is on an older development (18 years). Our house's Zoopla valuation is £497k, whilst the same house down the road is valued at £859k !!!!! The differences being that WE have a conservatory and they brought the house from new, 18 or so years ago! How on earth are they even allowed to publicise this totally inaccurate data?

mrginge

Nobody with an IQ over 7 pays any attention to zoopla valuations

MobileSaver

mrginge wrote: »

Nobody with an IQ over 7 pays any attention to zoopla valuations

^ This.

Zoopla's valuations are and always have been a joke.

lippy1923

Zoopla often widely exaggerate house prices and nobody should take their estimates seriously. I see what you mean though as you will get daft people out there who do take it seriously and this wont exactly help with a house move.


Just has a look and Zoopla reckons my house has increased by 38% in the last 6 years. Crazy!

LittleMax

OP - just add a make me an offer price on zoopla and that is all anyone foolish enough to view zoopla will see for your property.

Mr.Generous

yes I know someone who was trying to sell one that Zoopla overvalued and they didn't believe anyone else when told Zoopla wasn't correct. It sat on the market until reduced. A case of believing what you want to believe. It gave them a false belief they were going to get loads more, so I agree it is ridiculous that they can do it.

Ladyjane26

It just amazes me that they are allowed to quote these ridiculous valuations by the powers that be!

System

Ladyjane26 wrote: »

It just amazes me that they are allowed to quote these ridiculous valuations by the powers that be!

There aren't any powers that be. Anyone is free to express any opinion they want about what something is worth.
The only one that matters is the one negotiated between the buyer and the seller.