Zoopla has just increased price estimates

westernpromise

@ chuck

Do you find that Zoopla struggles most with areas that have a lot of differently-sized flats in them? That would describe some of your holdings in Battersea I would guess.

chucknorris

westernpromise wrote: »

@ chuck

Do you find that Zoopla struggles most with areas that have a lot of differently-sized flats in them? That would describe some of your holdings in Battersea I would guess.

I have 4 flats in Battersea, 3 of them are in the same block, this is what I posted about Zoopla a few years ago:

https://forums.moneysavingexpert.com/discussion/comment/66000418#Comment_66000418


Zoopla estimates are pathetic, I have 3 flats in the same block 2 x 2 bed with gardens and 1 x 3 bed with a balcony. I would estimate the values as 2 bed £435k and 3 bed £475k, Zoopla estimates them at £268/308k and £450k. There is absolutely no way that the 3 bed is worth 77% more than one of the 2 beds, and also there is nothing really in it between the value of the 2 bed flats, whereas zoopla has a £40k difference.

At any point in time I could be wrong about the value of one of the flats, but I will always know the difference in value between the 3 of them.

Zoopla does offer the ability to add more details (i.e. size, gardens etc.) but I couldn't be bothered to register, I wouldn't place much reliance on Zoopla anyway.

PasturesNew

You can spot inconsistencies most markedly in new builds of about 2009-2011, where they've resold. Where 6 new houses all sold for the same amounts, if one had resold each year since then they'd all have wildly differing values.

My house is identical to three others - all four sold for the same amount at about the same time. The other three have never resold and Zoopla says they're worth £217k. Zoopla says mine's worth £243k.

padington

PasturesNew wrote: »

I bought it for cash. I'm unmortgageable.

Five years of massive price increases and you didn't leverage with that cash.

Ouch.

afly

Nowhere near the south east and ours has had a bump of 14% since i last looked (couple of months). It was already on the high side beforehand

MobileSaver

PasturesNew wrote: »

I bought it for cash. I'm unmortgageable.

padington wrote: »

Five years of massive price increases and you didn't leverage with that cash. Ouch.

There's more to life than just money. I think you're underestimating the "worth" of five years of being mortgage-free; knowing that whatever else may happen you will always have a roof over your head.

As you get older you (hopefully) realise that there are enough stresses in life already so why add more of your own making; not everyone wants to have the extra work, headaches and time spent managing BTL properties.

padington

MobileSaver wrote: »

There's more to life than just money. I think you're underestimating the "worth" of five years of being mortgage-free; knowing that whatever else may happen you will always have a roof over your head.

As you get older you (hopefully) realise that there are enough stresses in life already so why add more of your own making; not everyone wants to have the extra work, headaches and time spent managing BTL properties.

With the gains in the last five years you wouldn't have needed to rent the place out at all. Could have locked it up and just waited.

Personally if i failed to make a fairly easily half a million, I wouldn't be finding much right now to be that relaxed about. Anyway, off topic.

Does anyone know why zoopla cranked up their valuations? Anyone got any insight into what are the key indicators they are running with?

bownyboy

I always use Zoopla for trends and not absolute values. Although earlier this year our house was valued for a remortgage and you can claim your house and enter details to make it more accurate.

Now, our house valuation is about on par with other 3 bed semi's in the village.

But, like I said, I use it mainly for trends and to help with net worth valuations.

padington

bownyboy wrote: »

I always use Zoopla for trends and not absolute values. Although earlier this year our house was valued for a remortgage and you can claim your house and enter details to make it more accurate.

Now, our house valuation is about on par with other 3 bed semi's in the village.

But, like I said, I use it mainly for trends and to help with net worth valuations.

What he said.