I live in a row of 4 houses. The houses were built in 1990 and are absolutely identical by floor plan. I bought this one in Sep 2024 for £530k. Two doors down bought in June 2024 for £540k. 3 months apart. Same postcodes.
As of today, RM says their house is now worth £545k (increase of 6%) and mine has dropped 5% to be worth £525k. How is this possible?
How do they work out their estimated valuations that two identical houses, next to each other, purchased 3 months apart are now £20k apart in valuation? I know it’s not exact and fairly crude but surely the same % rise or losses would apply.