How Accurate Is Zoopla?

[Tilly2]

I have just had an email from Zoopla about the house price situation in my postcode. Is it an accurate estimate? I know a house is only worth what people are prepared to pay but is Zoopla a good indication?

[boxtops]

try it against this one http://www.rightmove.co.uk/house-value.html

[237SJ]

I think Zoopla is accurate. Zoopla was formally known as findaproperty.com and they were/are one of the leading property websites.

[Peter Pedant]

I didnt think they were too bad quite honestly as a guide.... of course

[joggerjayne]

It's as accurate as you'd expect from a website where people who have never seen a property, and don't live in the area, try to guess the value of properties by using supposedly predictable criteria.

In other words, it's about as accurate as asking someone in a pub two hundred miles away what your house is worth.

[Tilly2]

I just find it hard to believe that the house is worth so much!

[237SJ]

You only have to go onto their website and click Buy and input your postcode so that you can see what properties are selling for in your area. That will give you a pretty good idea of property prices.

[joggerjayne]

Tilly, your house is worth a lot coz its a lovely house.

Not coz Zoopla say so.

(the guy in the bush outside with the camera is working for me)

[tonyav]

I find it to be fairly accurate, Yilly.

[Tilly2]

It is a lovely house, jj and I want to take it with me.

[Tilly2]

Thanks all of you. I will now re-define my search criteria for the next property.

[237SJ]

You can also look at nethouseprices.com but that will only give you an idea of what properties sold for 6 months (or more) ago.

[decmangan]

Estate agents pay to belong. They use it as a guide for setting the price. Then when they make a sale they charge you for their expertise.

[Peter Pedant]

Remember Tilly it is only a paper gain until you actually sell....

and anyway arent southern prices back at 2008 levels ?

[Tilly2]

What's the alternative to using estate agents, decmangan?

[jomifl]

If the property was sold within a few years ago then the price will be based on the last selling price adjusted to the local price changes. It's probably accurate within 10% if the house was sold with 3 or 4 years and no majoor change have happened.

[Peter Pedant]

Jesus I see what you mean, I have just checked - yes Tilly they have indeed 'zooped' up

[decmangan]

Tilly, had to do this last year following the death of my mother. Had to get valuation for probate. It is random what you can get. Difficult to sell privately as time may be a factor and other people involved. I knew the agents I went through and they told me that they pay £10000 per month to be on pricing sites!

[Peter Pedant]

dec I hope you sobbed real tears and bawled: please sell my house and keep ALL the money !

[Old_Geezer]

I think the industry tend to use a well known algorithm for getting the approximate price, these days, and local knowledge to modify it up or down as they know recent sales. I do not know Zoopla but would suspect (hope) it has probably given you a figure in the right ball park.

Occasionally I go to mouseprice as they have a facility there, just to nose at the present value of my place. I guess you could try something like that for a number of houses in your local area, see if the valuation changes in the way you'd expect. (And compare with those quoted in the local estate agents window maybe ?)