How accurate are Zoopla valuations?

[dungandbother]

Posting for traffic dear MN

Is Zoopla a wild stab in the dark when it comes to the values of property?

When Zoopla shows a range say
£288-£335k is this a decent figure that a qualified surveyor would likely come up with ?

Completely inaccurate in my area

It was completely accurate for me. The agents we had in fell in the middle to end range of what Zoopla predicted.

2 properties I know a lot about. Both hugely inaccurate.

It can be spot on but it can also be wildly out.

Our agents agreed with Zoopla.

Completely inaccurate. It's just a serious of algorithms based on sold prices, but what if you have a street where every house is different, or one house is totally in need of renovation? It's just numbers, completely meaningless. The only number worth looking at in terms of house prices is the land registry figures which show what a property actually sold for.

Totally off for me. Zoopla valuation was £457k, surveyors valuation £510k, estate agents valuation £525k, all in the same week.

I thought they were pretty good until recently. My DD paid £475k for a barn conversion in a small hamlet. The going rate. Just after they bought it I looked at prices in that area. They said DD’s house was valued at £35,000!
I went through the process of changing it (quite easy bit you have to say why) and now it’s correctly valued.

Not accurate here either. Zoopla said 425k and when the house was valued by a mortgage surveyor they said 375k.

The estate agents valued it at 410k

Inaccurate.

I live in a row of 6 identical houses built approx 3 years ago, none of the houses have had any major work done to them and other than maybe a lick of coloured paint here and there they're identical inside (I know this as we are all v.friendly in our road so have been in eachothers houses), and yet Zoopla estimates for each of the 6 houses varies massively. I can't work out how they've reached these strange estimated prices.

Completely wrong for me in Hampshire. Zoopla valuation of 325k, estate agent valued it at 545k, sold for 555k. And as I got 90% equity in divorce settlement I was very happy

Depends really on how often property has sold and if your property is typical. Last house i sold it was bob on. But there were v similar houses nearby and i added in improvements/ spend.

We just remortgaged and it was exact

Depends on the standard of your house inside. If it's fairly modern then I'd go with Zoopla. If it hasn't been done up for years then I'd go down a bit.

Inaccurate here. It's an estimate based on the last sold price and the average price increase in the area. Two identical houses next to each other have wildly different estimates.

Very low here. About 100k out on our house, and 200k our on our purchase.
I’ve put this down to the fact that both roads have lots of different types of property, and none like ours or our purchase have sold for 30+ years.

Depends on your house i think.

We live in a self build house on the very edge of a rural village.Zoopla seem to value our property in line with much smaller village homes, as there is no other direct comparitor.
4 divferent estate agents valued our property within +/- £10k. Zoopla valued it at almost £75k less.

Does not bother us, we are not moving (valuations done when we were considering it). But it really could have seious consequences were we to market the property - would you consider a house that appeared to be so overvalued???

Very inaccurate in my area. Zoopla reckons that on my street a flat is worth £140k and a terraced house is worth £200k. Except that my street consists of a couple of detached bungalows, 3 semi detached bungalows and a detached cottage

Rubbish. Half our street are non-existent standard construction...so they sell for around 100k... the rest are standard and sell for 250odds. Zoopla trends about 100k out.

It depends whether there's a recent sale price.

Also, I updated my house on Zoopla when we extended, 99% of the house owning population don't do this.

Very inaccurate in my area

Only accurate for new build identikit areas, not for older areas.

Thank you

I love MN

Very inaccurate for us - somehow they have us down as having an additional 2 bedrooms and 1 extra bathroom.

I know I haven't got an extra bathroom hiding some where because as soon as I decide to have a bath / shower, DH and DCs suddenly need to use the bathroom.

The one we are buying is valued at 200k more on Zoopla than we are buying, was on market a while so that's got to be wrong. Our house probably about 50k out.

Very inaccurate IMO. Claims my flat is worth about 40% of what the home report did.