Zoopla Valuation Correct?

Kat1e

Should I take Zoopla's valuation into consideration when offering on a property? Their valuation on a property I'm interested in is £25,000 less thank the asking price. It's a shame there's not a similar property in the area to make a comparison. I don't want to go in with a low offer and offend the vendor based on Zoopla's valuation if not correct.

Davesnave

No. Zoopla's valuations are often rubbish.

What you should already have done, is work out the average selling price of that type of house from Rightmove (or any other) recent sold data. You should be able to find a comparable area if you know the location well enough.

But what is the asking price? - £25k is a very different proposition on a £1m house and one advertised at £130k. Starting at 8 - 10% below isn't unusual.

bopsybunny

When I was house hunting I looked at L and C, Mouseprice and Zoopla for house price estimates as they can vary quite significantly, and take the average.

The house we bought was advertised for £172,500; Zoopla's estimate was £143k, L and C's and Mouseprice's was £181k.

tom9980

House i own bought for £295k in 2014
Zoopla estimate £346k
Banks HPI index is £374k

My valuation £325k

hazyjo

My last house was 'valued' around £100k under on zoopla. The one before that was somewhere around £150k over (I forget).


As above, it's rubbish.

Davesnave

tom9980 wrote: »

House i own bought for £295k in 2014
Zoopla estimate £346k
Banks HPI index is £374k

My valuation £325k

I have them stumped. My house doesn't appear in any publicly available data.


However, having watched similar country property sell within a 20 mile radius I know the rough price I'd expect is between £425k and £450k

System

Your best bet is to use the recent sold price facility on Rightmove as this information comes directly from Land registry

datlex

I don't think that Zoopla are accurate. They don't for example know what the inside of the property is like and can have details about the type of property incorrect.

martin1959

Zoopla values ours at £260k. We sold at the weekend and agreed on £393k.

jonnygee2

Zoopla valuations are, as everyone says, rubbish. But:

I don't want to go in with a low offer and offend the vendor

Equally, you probably don't want to spend £25,000 just to avoid hurting the feelings of someone you've never met. What's the total value of the property?

PhilE

Zoopla is wrong. They are not valuers, and shouldn't describe themselves as such.