How is the London market?

Crashy_Time

hazyjo wrote: »

I know what things sell for locally and I know what some zoopla valuations have said when they have been of particular interest to me, like something I've offered on in the past, or a house that's up in my street (although I don't often check it as it's a load of bo***x, it's just to know how 'out' it is). I know mine isn't worth £100k less than what I'm selling for. There are no 3 bed houses up for that price, not even manky ones.


My previous Brentwood house was bought for £400k-something and the zoopla 'valuation' put it at over £600k. Just trying to explain it doesn't always undervalue. Obviously as soon as I bought, zoopla changed its valuation to what I paid (and consequently adjusted every other value in the street/near vicinity). The house had been overpaid for new in the first place, but in other streets, the overvaluation would have been far nearer its correct value.

Surely doing that gives them more credibility not less? Having read about some of the methodology used by the well known HP indexes they seem like fantasy averages as well, designed to make it look better than it is? Also just because you and a load of other sellers believe your house to be worth 100k over X, it doesn`t mean anything until a buyer actually pays your price.

Crashy_Time

https://www.theguardian.com/money/2017/apr/28/london-rents-fall-sharply-as-monthly-bill-drops-across-uk?CMP=Share_iOSApp_Other

hazyjo

We seem to be going round in circles.


And last month, the Independent were saying how house prices were rising http://www.independent.co.uk/news/business/news/uk-house-prices-2017-latest-fastest-rise-housing-market-a7626481.html
I don't take much notice of newspapers or 'experts'.


Zoopla is way out. You would think it adds credibility - so why was it so far out. There had been loads of sales around my previous house. It's because it hasn't got a bloody clue and can't work things out for itself. Not always delusional vendors/buyers. If you want to see it as something different, that's your prerogative. I'm telling you my house is not worth £100k less. That would be ludicrous. I know my area's prices, and I know for a fact there are no 3 bed houses up for that amount. I have absolutely nowt else to say on the matter as I'm bashing my head on a brick wall.

sheff6107

If only we had a chancellor that was more use than a chocolate fireguard...

Crashy_Time

hazyjo wrote: »

We seem to be going round in circles.


And last month, the Independent were saying how house prices were rising http://www.independent.co.uk/news/business/news/uk-house-prices-2017-latest-fastest-rise-housing-market-a7626481.html
I don't take much notice of newspapers or 'experts'.


Zoopla is way out. You would think it adds credibility - so why was it so far out. There had been loads of sales around my previous house. It's because it hasn't got a bloody clue and can't work things out for itself. Not always delusional vendors/buyers. If you want to see it as something different, that's your prerogative. I'm telling you my house is not worth £100k less. That would be ludicrous. I know my area's prices, and I know for a fact there are no 3 bed houses up for that amount. I have absolutely nowt else to say on the matter as I'm bashing my head on a brick wall.

Unless you find a buyer at a certain price you can`t assume anything about your house price IMO, not at this stage of the cycle.

mysterymurdoch

I suspect hazyjo knows a lot more about the housing market than Crashy.

hazyjo

mysterymurdoch wrote: »

I suspect hazyjo knows a lot more about the housing market than Crashy.

Well it will be my 8th purchase

chucknorris

hazyjo wrote: »

We seem to be going round in circles.


And last month, the Independent were saying how house prices were rising http://www.independent.co.uk/news/business/news/uk-house-prices-2017-latest-fastest-rise-housing-market-a7626481.html
I don't take much notice of newspapers or 'experts'.


Zoopla is way out. You would think it adds credibility - so why was it so far out. There had been loads of sales around my previous house. It's because it hasn't got a bloody clue and can't work things out for itself. Not always delusional vendors/buyers. If you want to see it as something different, that's your prerogative. I'm telling you my house is not worth £100k less. That would be ludicrous. I know my area's prices, and I know for a fact there are no 3 bed houses up for that amount. I have absolutely nowt else to say on the matter as I'm bashing my head on a brick wall.

Zoopla is really pathetic, this is what I previously posted last November:

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.


I have just sold the flat that they valued at £268k for £440k.

hazyjo

chucknorris wrote: »

Zoopla is really pathetic, this is what I previously posted last November:

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.


I have just sold the flat that they valued at £268k for £440k.

Exactly

Jx

Crashy_Time

chucknorris wrote: »

Zoopla is really pathetic, this is what I previously posted last November:

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.


I have just sold the flat that they valued at £268k for £440k.

Got a link to the flat?