zoopla- how accurate

chappers

Hi all
My brother-in law is maybe looking into selling his flat in St Albans, he has been looking at all the property sites and asked me what I thought of zoopla( I had never heard of it)Anyone have any experience of how accurate their price estimates are.
I think I know the answer as they seemed a bit generous in my area.

My god I have just held my wife and two brother's hands through the sale of an inherited house and might have to do it all again for the Brother-in-law, with the added bonus of actually doing some of the legwork for him as he is in Bermuda. (Free flight Free flight free flight are you hearing me Charlie).

Not complaining really as B-i-L No.1 is a lawyer and B-i-L No. 2 an accountant so do get my share back.

slipp_digby

chappers there was another thread on this recently, might be worth a search.

is this the one where it refines the prices when people put more information in about their houses?

if so, my experience is way way too high with its prices and not many people have put data into it.

silvercar

it bases the price of individual houses on changes in house prices in the area, through an algorithm.

I would say its reasonably accurate provided any individual house has not had work been changed significantly. eg there is a house near me that was bought cheap, knocked down and rebuilt twice the original size, zoopla just bases its value on the original sale price adjusted for the change in price for the area since sale, it can't be expected to know anything else.

Rebob

I have tried it earlier and found it very accurate when I entered all the extra data.

mpsavuk

Any price estimate showing on Zoopla is a fantasy now.
Too far into the credit crunch.
Only one way for prices to go.
And it's not up!
All IMHO of course.

silvercar

Any price estimate showing on Zoopla is a fantasy now.

It is based on what prices have actually been achieved, so not fantasy but it does lag behind the market as it looks at properties after completion not current prices.

mpsavuk

silvercar wrote: »

It is based on what prices have actually been achieved, so not fantasy but it does lag behind the market as it looks at properties after completion not current prices.

Yes, "Been" being the operative word! Past tense.

Therefore any current estimate on that website that is based on previous prices acheived is now fantasy.

Sentiment has changed so the market is altering rapidly and radically now.

hermanmunster_3

I have looked at a few places and feel that the prices quoted are crazy.... far too high! In one case gave price paid in last decade - property sold last year for 100k less than zoopla proce