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Original poster

Zoopla Valuation

23 replies

lifeturnsonadime · 13/01/2022 10:17

Hi I've got my eyes on a property to buy but I am really put off by the Zoopla valuation which is approx £100K less than the amount that the vendor is asking.

Can it be that wrong? It's on the market for 775 and the zoopla range says 622- 688.

The zoopla valuation for our house, on a neighbouring street, is about right.

The vendor will have had a price increase of £300k in 7 years which does seem a lot but the house is period and seems 'about right' in comparison with other similar properties on the market.

What would you make of that?

OP posts:

SilverHairedCat · 13/01/2022 10:28

Zoopla isn't a true valuation. It values ourselves as £50k less than our neighbours. We're a mid terrace 80s build estate. There are zero differences, and in fact we have a brand new kitchen and their houses are still very dated, plus we had our garden redone, house painted etc. So in reality ours isn't in need of as much work as either if theirs. There are others it cant value here, as the owners bought them new in the early 80s and they've not sold since.

Take it with a huge pinch of salt - I don't know how often it updates each property price.

I'm not sure I'm following whether the house for sale is a similar price to others on the market?

Original poster

lifeturnsonadime · 13/01/2022 10:32

I'm not sure I'm following whether the house for sale is a similar price to others on the market?

It's quite a unique property so it's hard to compare but, broadly speaking, it seems to be.

I think my issues is the amount of the difference rather than the difference itself.

My neighbours house over the street would definitely fetch more than zoopla says it would as well but I'm not sure it would be a 100K difference.

OP posts:

Jericha · 13/01/2022 10:33

Similar to @SilverHairedCat our house is £50k less on valuation than our next door neighbour. I haven't seen the inside of their house but it's not been on the market since it was built so zoopla wouldn't know if they've done lots of work to it. Exact same house design and ours is in good condition if they're using estate agent info for our 'value', so I'd take it with a pinch of salt.

Ariela · 13/01/2022 10:46

Zoopla calculates based on last sale price vs other properties sold in that area at that time (not necessarily same specification or size) . We have had a house in our road, one of the largest, sell recently. It's not been on the market in the past 30 years or so, so there are no comparatives for that property. However it has made the average house price for the road increase, and consequently all the properties in the road just went up by 20% more than those in the next post code over.

leafeee · 13/01/2022 10:48

Zoopla dont have any particular insight - they just base their valuation on the averages of sales in the local area, plus other national data on house price increases. If there have been few sales in the local area it will have little to go on and it throws up strange results such as those other people have said - if a particular house appears to be worth more than others in the local area it may be because the owner has 'claimed' the house and added details and so they have better information to go on (plus they want to please people interacting with the website!)

A house is worth what someone is prepared to pay for it - no more, no less!

IHaveToSay · 13/01/2022 10:49

Zoopla values our house at approx £100k more than it’s worth! I wouldn’t set any store by it at all.

whenwillthedecoratingend · 13/01/2022 10:59

Zoopla values our house about 40k more than several local estate agents. We didn't go on the market in the end but I think the estate agents were right.

lastqueenofscotland · 13/01/2022 11:05

Zoopla is just an algorithm and completes useless. Ignore!

Mustbemagic · 13/01/2022 11:12

You used to be able to change your zoopla valuation - eg claim you spent £50k on improvements and it would bump up the valuation. This may have changed now.

I would still take the valuations with a huge pinch of salt - especially when it comes to 700k+ properties (£100k difference is under 15%).

Kipperandarthur · 13/01/2022 14:52

@lastqueenofscotland

Zoopla is just an algorithm and completes useless. Ignore!

This

Doubleraspberry · 13/01/2022 15:48

Zoopla values our house at 100k more than I think we'd get for it too. We're putting it on the market shortly and I'm hoping that will work in our favour, as anyone checking will think they're getting a bargain.

But it's totally random - as everyone says, it's not an accurate valuation of your house at all.

Lochroy · 13/01/2022 15:51

A Zoopla valuation is only marginally better than using a crystal ball.

Noworneverever · 13/01/2022 16:05

Also don't trust the last sale price/date on Zoopla. My purchase isn't on there but the person I bought from in 2010 is on.

IcedCoffeeMilkshake · 13/01/2022 16:13

@IHaveToSay

Zoopla values our house at approx £100k more than it’s worth! I wouldn’t set any store by it at all.

Yes, as pp said. They value according to last sale and do not take into account improvements. They value ours a whopping amount less than the real estate agent(s) as they do not know we did the loft and the basement!

Lampzade · 14/01/2022 10:30

What about a move market valuation.? Is that any better

LardonChase · 14/01/2022 15:03

Zoopla are rubbish

we moved at the same time (consecutive months) as friends. Same road, in the same village

theirs has apparently gone up 60%. Our has gone up 42%

And obviously doesn't include improvements and extensions

Oceantide · 14/01/2022 22:28

The nationwide house price indicator is more accurate than zoopla , if you know when the house was last sole and for how, much.

RandomMess · 14/01/2022 22:31

Zoopla wouldn't take into account that we've had a basement conversion done adding an additional bathroom and living room. Much bigger kitchen, put in proper central heating too!!

FreeFrenchHens · 14/01/2022 23:15

Zoopla's not bad on streets of similar houses but I wouldn't trust it much on a "unique property", especially if it's substantially different to others in its postcode. Ours varies depending on which side of the road recent sales have been.

rainbowplease · 14/01/2022 23:30

Zoopla is terrible. For example if a house is sold numerous times they can base their judgement from sold prices. However if a house hasn't sold for several years it's just a random guess - often higher than the true value. Also doesn't take into account any home improvements.

You're better off doing a right move search of sold prices in the local area.

kitcat15 · 14/01/2022 23:33

Zoopla valuations are bollocks.... ours is valued about 50k more than its worth

stingofthebutterfly · 15/01/2022 14:48

Zoopla hasn't managed to update the last sale price on ours from 3 years ago yet. It also seems to have overestimated the value of our house, in my opinion. I wouldn't trust it to be accurate.

RoyKentsChestHair · 15/01/2022 14:55

I bought my house for a steal about 12 years ago. It had been on the market for £350k the previous year but taken off again, then went back on at £329k and I bought for £295k.

It’s now doubled in value but other houses the same in my street are showing at £650k while mine is showing around £550k, presumably because the last sale prices for theirs were more like the original asking price. Mine does have a slightly smaller garden, which is one of the reasons it took a while to sell, but I have improved it since then to be more usable, so I suspect the truth is somewhere in the middle.

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