Zoopla Valuations

markin

Or you found 2 mugs that trust zoopla!!!! hah


On my street i would always say the low end is the more correct, but even then going down the list the numbers got more and more silly and i know they would never sell at that price because the has been 2 nice homes sitting all summer and slowly lowering.

Dandytf

Interesting OP
My what I described as very generous valuation is since removed from Zoopla past few months.
Wonder if they plan to continue with Scottish Valuation.

epinjy

I don't think it's fair to give it a blanket "it's rubbish" statement. It can be very useful taken as one data-point among many others, but in isolation, of course it is rubbish (that is not a problem with the data, but a problem with the person who is looking at it in isolation).

And for my house I bought 8 months or so ago, it was undervaluing mine by approx 5% when I bought it, and now I think leaning more towards overvaluing (and it has not updated with the price I paid for it).

davidmcn

On average, it's going to be correct. But with a very large margin of error, given it's using indexation from huge regions.

Dandytf

davidmcn wrote: »

On average, it's going to be correct. But with a very large margin of error, given it's using indexation from huge regions.

If I search manually I since find more realistic range £50k - £61k

Which is excellent as seems they've dropped the dreamland 79K + range of past few years.
Maybe the new scoring is why my original stored property was removed recently.
I shall re save and view over next few years.

MaxiRobriguez

It's a standard formula they apply across every region covering millions of homes.

Of course it's not going to be bang on the money for everyone.

Use it as a rough guide, nothing else.

Luke1066

markin wrote: »

Or you found 2 mugs that trust zoopla!!!! hah


On my street i would always say the low end is the more correct, but even then going down the list the numbers got more and more silly and i know they would never sell at that price because the has been 2 nice homes sitting all summer and slowly lowering.

A house is only worth what someone will pay for it and in this case both were clearly happy with the listing price.

All prices are an estimate weather it be zoopla or a local agent.
Yes a local agent might have more of feel for the local area/market but they are still effectively licking there finger and placing it in the air depending on how much they want your business.

Dandytf

MaxiRobriguez wrote: »

It's a standard formula they apply across every region covering millions of homes.

Of course it's not going to be bang on the money for everyone.

Use it as a rough guide, nothing else.

P.s. it's took Zoopla since my move in year of Sept 2009 until past few weeks to bring their valuations up-to realistic range.
Which I'm quite pleased as I had posted Nationwide's down valuation via mse forms a couple of years earlier.

sevenhills

I have just looked at the Zoopla valuation for my street, very surprised at the increase.
My next door neighbours house has gone from £107k to £127 since 2016, thats in Leeds.

AdrianC

Well, the range they give for this place is definitely likely to cover the actual value...

Their current estimate is 106%-160% of the 2013 sale price...