Zoopla has just increased price estimates

padington

By quite a bit in the south east. Check your place out, it's suddenly worth quite a bit more according to them.

Anyone know why they re-estimated so high ?

Filo25

Yep our place has just gone up again, I think its the second time that has happened in recent months, although the market does seem to be moving up again around here based on some of the recent asking prices.

lippy1923

Just checked mine and its gone up loads according to them. Stupidly overestimated. I have also seen asking prices/sales increasing around my way but not massively.

fun4everyone

Zoopla's estimates are a waste of time.

padington

fun4everyone wrote: »

Zoopla's estimates are a waste of time.

They move the market though , you would be surprised how much estate agents and new buyers go by them.

If the zoopla price has gone up, the price goes up.

PasturesNew

According to Zoopla, since I put my offer in to buy this house over 30 months ago, its "value" has gone up £1k/month.

Doesn't help me though does it .... I can't trade up as those prices have gone up proportionally ... and I can't trade down as I'd want to do that "as late as possible" to have the biggest difference/cash pot available to live on.

If prices had remained fixed I could've seen a potential to save for the difference. Each time my house has gone up £1k, a trade-up has gone up £1.5k

It's a race to the bottom really

padington

PasturesNew wrote: »

According to Zoopla, since I put my offer in to buy this house over 30 months ago, its "value" has gone up £1k/month.

Doesn't help me though does it .... I can't trade up as those prices have gone up proportionally ... and I can't trade down as I'd want to do that "as late as possible" to have the biggest difference/cash pot available to live on.

If prices had remained fixed I could've seen a potential to save for the difference. Each time my house has gone up £1k, a trade-up has gone up £1.5k

It's a race to the bottom really

You can get a better mortgage deal and pay less every month in interest because you own more percieced equity. Also you could borrow more with your new credit worthiness and get two places. Also when you downsize you could hugely benefit.

Thrugelmir

padington wrote: »

They move the market though , you would be surprised how much estate agents and new buyers go by them.

I would be surprised along with concerned. If sensible people did.

westernpromise

Zoopla has valued my flat at anywhere between £937k and £990k over the last 6 months or so. I reckon, based on actual transactions, that it's worth £895k and that this has not changed much over that time.

PasturesNew

padington wrote: »

You can get a better mortgage deal and pay less every month in interest because you own more percieced equity. Also you could borrow more with your new credit worthiness and get two places. Also when you downsize you could hugely benefit.

I bought it for cash. I'm unmortgageable.

chucknorris

My Labrador has got a better idea of what my property is worth than Zoopla (no offence intended Ozzie).