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Are zoopla house price calculations reliable?

(35 Posts)
peachypetite Mon 11-Dec-17 14:37:52

I've contacted a couple of estate agents to get the house valued next week. We've been here almost 3 years and hoping the profit we make will form the deposit for a family home. Just wondering if anyone has any recent experience of selling and what they sold for compared to the zoopla estimate?

Movingonuppppp Mon 11-Dec-17 14:38:44

Zoopla is massively hit and miss I’m afraid.

reynoldsnumber Mon 11-Dec-17 14:41:19

I would ignore it for houses you might buy. People can edit their own house's value (if they have extended it for example) do it's not reliable.

If it's for your own it might give you a ball park, but it's not likely to be accurate. Get an estate agent round instead.

StealthNinjaMum Mon 11-Dec-17 14:42:17

I've looked at my house price estimate on zoopla from time to time and they always estimate it about 20% lower than I think we could sell it (based on actual sale prices of houses that are near me.)

peachypetite Mon 11-Dec-17 14:42:22

Yeh I'm not looking there for houses for sale, that's what rightmove is for! But I just wanted to have some clue. Looking forward to the estate agents' valuations!

TammySwansonTwo Mon 11-Dec-17 14:43:34

It's. based on the sale price of other houses of the same size in your street usually so it really depends on comparitivr condition, whether the houses are similar or not etc. Not reliable.

peachypetite Mon 11-Dec-17 14:45:19

Hmm god knows how they calculated it then since my street is mainly full of big family homes whereas ours is a two bed.

dingit Mon 11-Dec-17 14:48:35

Hmmm, our next door neighbours identical house is valued £100,000 more than ours on Zoopla..

ASDismynormality Mon 11-Dec-17 14:48:37

One of my neighbors and I have identical houses. Zoopla estimates theirs is 70k more!
We bought ours in a probate sale and between it being valued and is buying it the prices here rised quite a lot but we got it at just over the original valuation price. This has skewed the Zoopla estimate.

BonfiresOfInsanity Mon 11-Dec-17 14:49:49

They are bobbins unless you are in a street full of identical houses. Zoopla has the house next door to us worth about £50k more than ours when it is a smaller house badly extended, ugly, smaller plot and massively overdeveloped for the site. If an estate agent or buyer believed that valuation I'd say they need their heads checking!

It just works on algorithms rather than knowing anything about the area or houses.

Honeybooboo123 Mon 11-Dec-17 14:49:51

it will give you sold prices, but depending on how recent it then makes a calculation based on the market movement. Ours was valued as higher before we bought it, but then the price we paid revalued the estimate down

MummaTwinkleToes Mon 11-Dec-17 14:49:52

Hi OP no Zoopla estimate is not reliable, we are selling at the moment Zoopla estimate was 68k lower than 4 estate agent valuations (which were all the same). Also I have been following the sold prices on my road and it was also 35k lower than the worst house sold which needed a complete renovation.

You can actually claim your house on Zoopla and add all the refurbishments and work you have done so it is reflected in the Zoopla estimate.

peachypetite Mon 11-Dec-17 14:50:14

Thanks for your replies. I'm hoping the estate agent says it's worth more than the zoopla one!

BonfiresOfInsanity Mon 11-Dec-17 14:50:33

Oh, well the previous two posters have just disproved the identical house theory! grin

SleepFreeZone Mon 11-Dec-17 14:51:16

In my experience no. Wildly inaccurate.

NotDavidTennant Mon 11-Dec-17 14:52:04

As far as I can tell, Zoopla valuations seem to be based mainly on taking the previous sold price and extrapolating it forward in time using changing values in the local market. If there is a previous sold price and the house is in roughly the same condition as when it last sold the valuation is not bad as a very rough estimate; if the house has changed in condition since it last sold then the valuation can be way off.

peachypetite Mon 11-Dec-17 15:03:01

We've improved the house - new garden and redecorated so fingers crossed it's an under estimate.

loobyloo1234 Mon 11-Dec-17 15:10:29

I have just sold my house for more than the Zoopla estimate. One EA used that as a guide and I am very glad I didn't go with them. I would say Zoopla was approx 7% under if that helps?

GrockleBocs Mon 11-Dec-17 15:16:36

It is as basic as that NotDavid. We're one of three identical unextended or changed houses in a row. Wildly different Zoopla prices. Varies by 30% of the highest valued house.

flumpybear Mon 11-Dec-17 15:19:16

Zoopla just goes by a % increase in line with other costs in your area over time - ours was on zoopla for £227k, but three independent estate agents gave quotes of 400-425 - and we've made changes too, hence higher than expected increase over the last 10 years since we bought it

SkyIsTooHigh Mon 11-Dec-17 15:24:29

Doesn't work for our road because of wildly differing price brackets on either side of the road. Estimated price mainly seems to be a function of how many have sold on either side.

WhatALoadOfBaubles Mon 11-Dec-17 15:26:16

They seem to be way off for many of the houses in my area! I agree that any estate agent that uses it as a guide is well worth avoiding.

peachypetite Mon 11-Dec-17 15:26:25

I think I may look on rightmove for sold recently which are a similar size and in our area for a better clue.

WhatALoadOfBaubles Mon 11-Dec-17 15:28:22

Oh and a friend of ours who was selling was able to bump up his Zooplankton valuation somehow!

WhatALoadOfBaubles Mon 11-Dec-17 15:29:09

Zoopla, even!

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