Zoopla house value dropped from 643k to 273k in 7 months

[KievLoverTwo]

I thought I would share for the lols.

In Sept 23 Zoopla thought our rental house was worth 643k. Last month it dropped to 518. This month it has plummeted to 273k.

What changed?

Well, there are only around 25 homes in my postcode, and nothing had sold since 2021. Prior to that, there were 8 sales listed since the start of records. Late last year, two sold for 250 and 260 respectively. Presumably the land registry data just fed through into Zoopla’s systems.

(fwiw, it is probably is worth around 550ish)

Don’t rely on Zoopla, folks!! What a wonderful illustration of how absurd their algorithms are.

Are the two that sold recently significantly smaller or worse than yours?

They’re just normal houses whereas ours is vast (probably x3 the size) and quite new. They are very different.

A lot of the houses around here are self build. Zoopla doesn’t know about the barn conversions that would probably sell for 1.5m because they’re only likely to sell once in a generation.

Yes it probably just doesn’t work for your area then. It works pretty well round my area where established houses have been bought/sold many times and new builds are consistent in price.

It seems pretty accurate for my street too. But I can see it's not reliable when your house is in a place like your rental.

Not accurate for mine as not sold since 2008
I live in a downstairs apartment with a garden
Upstairs has a balcony

Mine is decorated and nice, upstairs is currently well, not
Despite the fact I have a private garden, zoopla reckons upstairs is worth 20k more than mine

For sure.

What would be nice would be for them to say ‘data unreliable, we don’t know’ !!