Do you think your house Zoopla estimate is accurate

[Wafflefudge]

Just been on to check their estimate for my property and I think it's been set at about 70% of what my house would be valued at.
No houses nearby that have been sold in last 20 or 30 years so assuming that's why it's not very accurate.
Is yours accurate?

Just checked and yes, mine is in line with my expectations.

Another in line with expectations.

@Wafflefudge what makes you think your expectations are realitic?

Zoopla cant be accurate they are simply looking at the last time the property sold and adding on a percentage for time passed. They have no idea if you have new, modern bathrooms or kitchen or have extended the property.

They are over estimating mine 🤔

@NerdWhoEatsMedlar obviously don't know exactly what my house would be priced at but I like to keep an eye on the market and houses similar to mine are on market for 100k -150k more.
If I do a search in the area for detached houses at the price given there is only one result at that price it has only two bedrooms and one reception room and in need of complete renovation, so it's pretty inaccurate.
But as @bilbodog stated they will have gone off price when we bought but we did lots of work on the property which they won't have accounted for.
I'm not selling was just looking our of interest.

No. We live in an area of detached, quite unique houses where some seem to sell for over the asking price and some seem to stick around on the market for months even years. So they are difficult to value and no two are the same. We bought our house nearly 20 years ago and have done considerable things to it including extending it by about 75% in size and completely renovating it. So I believe the Zoopla estimate to be innacurate.

Mine is wildly undervalued

I know as our next door neighbours just sold and our houses are identical

Our garden a bit bigger and we have a carport

Yet they value it at 40% below what our neighbours just sold for

Ours is also very undervalued. I don’t think it really makes much difference though: if I were selling I’d not be setting a price based on Zooplas guesstimate.

No, I think ours is over by 10-15%.

But knowing how they calculate their estimates I can see why that's the case. Our postcode has a variety of houses of different sizes, there's a very low turnover in properties, and a couple of outliers have sold in the last few years that are skewing the average.

It doesn’t matter what Zoopla says. It’s a very rough estimate and any house is worth what someone is prepared to pay for it.

People got a bit misled a couple of years ago, because prices were high. You have to consider the downturn since then.

Mine looks about ok, on the low side but we've done a lot of work to it

There hasn't been a downturn as such where I am. Sold prices are still rising slowly.

It's £5k less than mine was valued out for the remortgage about 12 months ago and £15k more than a neighbouring property sold for recently but mine is slightly larger and has new kitchen and bathrooms rather than the nearly 30yr old ones, so yes, I'd say it's fairly accurate.

Zoopla estimates will be around 3 months out of date because the valuation data takes a while to come through.

Mine is ridiculously high (always has been) Just checked and around 35% overpriced.
Next door (90 year old occupants) is a mansion of huge proportion. Well looked after but dated decor.
Comes out less than mine. Ha ha!

Zoopla wants me to make an account (they can jog on) but the move market looks about right.

Overestimating ours by £250 - £300k.

Wow @IWFH
Is it a premium property or is that a huge mark up?

I reckon the place is worth £750-800 based on the very few similar houses sold on our street. Zoopla say 1.15 million 🤣
Been in the house over 25 years and have no intention of selling - but the Zoopla estimate has made me laugh.
Realised it's more like a £400k to £450k overestimate.

What are you using as a comparison figure?

You have to select agents to contact, couldn't be bothered with that.

Sorry, cross posted!

Real knowledge of the road and sold prices - rather than a random computer generated number based on false assumptions

Honestly its complete rubbish. Unless you live on a large estate of very similar houses or say a row of terraced houses its hopeless unless those properties are brought and sold a lot. They need recent data to work out prices.

If all the houses are different in your road then how can they possibly know. They do allow you to put in something for an extension to try and make the value more meaningful but its known within the industry of being a work of fiction.

No it's a bit low but it doesn't have the correct details of rooms as we have extended.