If you go to www.zoopla.co.uk and type in your postcode, you can not only find out how much your house is worth but also valuations for everyone else on your street, when the house was last sold and how much for.

It's a nice site for snooping, but why's this information in the public domain anyway? I'd have thought that the price you paid for your house was a matter for the buyer and seller alone rather than the general public.

Anyway, have a look and see if it makes you feel either smug (if you bought your house 5 or 6 years ago) or sad (if you're wanting to get on the property ladder)......

Nice according to that site my house has risen £20000 since buying it not even a year ago...

Finding that one of my neighbours' houses has recently sold for £40k more than the valuation put on the house a couple of years ago (and £105k more than I paid) is pretty good too.

What are those estimates based on? Why is the next door house to me 'valued' at £20k more when it's the same house? Not that I'm selling, I'm just curious ...

I was working on those houses which had recently sold since the valuations seem to vary so much.

Well, they do get that right .. I noticed I had bought my house for 3K less than I thought I had. Still curious about their valuations.
Mine's also gone down 1.1% in the last year - no surprise there then!

i would take the figures on there with a pinch of salt

i would take the figures on there with a pinch of salt

I agree. The prices are all to cock on there. We know the prices paid for our house and others in the area and they are all different to what is displayed on there.

Really? Mine is right - they get it off the land registry ...

The 'valuations' are really weird ... like I said 20K difference between two houses next door to each other?
Nah

It seems to be based on the price houses went for when they were last bought and sold, so the accuracy of the valuation seems to depend on how recently a house has changed hands.

It seems pretty useless! My house, a mid-terrace in a set of three, is estimated at £139k. The ones on either side are allegedly worth £172k and £170k. Ok, a few grand more because they are end terraces, but over 20% extra?? Besides, my neighbour has just sold his for £140k, not £172k. So there :shocked:

If you go to www.zoopla.co.uk and type in your postcode, you can not only find out how much your house is worth but also valuations for everyone else on your street, when the house was last sold and how much for.

It's a nice site for snooping, but why's this information in the public domain anyway? I'd have thought that the price you paid for your house was a matter for the buyer and seller alone rather than the general public.

Anyway, have a look and see if it makes you feel either smug (if you bought your house 5 or 6 years ago) or sad (if you're wanting to get on the property ladder)......

Seems a bit ... optimistic to me....

Last sale: £147,500 Sale date: 9th Jul 2007
Current value £147,500

So it hasn't dropped at all...

It looks like they are just taking the last sale date and then applying the national level of inflation, which for my area means that the less recently it was sold the lower the valuation seems to be. I guess inflation here has outstripped the national average.

HERE HERE...................one word ! 4 letters...sounds like a card game?????

Figures for mine seem spot on. I like the birds eye view shots, sure i can see the dog in the garden!

They valued mine at £10,000 more then I was expecting. Particularly as I remortgaged in February and had a valuation carried out then, which came out at £120,000.

i dont mean to be a spoil-sport but has anyone tried selling their house in the last six months? my property was valued at 125k and i ended up selling @ 109k (87% of its value) after four long months on the market. and beleive me i had offers way below that too!

the market is dead at the minute and the people who are willing to buy are out for a steal!

^that is at first time buyer level which is struggling the most

Cyclone you need to empty your inbox or i cant send you the postcode

^that is at first time buyer level which is struggling the most

that is true... but on the other hand, why would one sell their 3bed semi to buy a 4bed detached at the moment? if property prices do drop 20% over the next few years, 20% loss on a smaller house wouldn’t hurt as much as a 20% loss on a larger property.

I only sold and bought as I moved 100 miles for a new job.

I've seen the site ages ago and it was mildly entertaining but it's all based on averages and depending on what type of property you've got it may not be very accurate.

If your house is the same as many others on the same street then it might be a good guide for you. If like me, your house is a bit different to the rest then it won't be of much help to you.

My neighbour's house is made of brick, the neighbour the other side is made of sticks, but I built mine from straw and ....

oh, hang on a minute,

there's someone at the door...a big hairy fellow who sounds out of breath.

..........

I looked on there and it says that my former home was worth 122K but i sold it 3 weeks ago for 155K!!!!

I look on rightmove and it tells you what things in your area are selling for!

I think my valuation was about right as we only bought it 3 years ago and , once you add on the improvements and take account that we have put in an ensuite, then it is failrly predictable, though it was slightly higher than I expected.

The whole thing is completely inaccurate. If you want a true picture , it may be better to go to www.nethouseprices.com or www.houseprices.co.uk. both of which are better because they do not draw upon opinion or averages, but limit the responses to facts.

averages are facts... and there was no suggestion that this service relied on opinion...

averages are facts... and there was no suggestion that this service relied on opinion...

That is true. But the average price of a property based upon one sold today and another sold 18 months ago is, I am afraid worthless.

They don't appear to be making a calculation like that though.

What they seem to be doing is taking the last sale price and then applying the rate of house inflation to that for however many months/years has elapsed.

If anything, they are ignoring the other sales in the area which might actually help them set a benchmark, since house price inflation is an average and varies even from street to street.

I'm not saying that I think it's accurate, I don't, but I think it's inaccurate for different reasons, the one I've just explained and what appears to be a significant lag, they are quoting houses as valued at the same as a sale price from 6 months ago, when it's actually likely to have dropped below that now.

OK. But it was you that said averages are facts and I therefore presumed you had researched the issue. I bought a house at roughly £20k under market value a year ago and refurbished. 3 doors along was valued at 120 K and based upon their inflationary assessment and my purchase price they valued ours at 85,000. That left them, pro rata over 40% wrong. This type of site is inaccurate and gives a totally wrong impression of prices. Prices are seen to act differently in different areas, even within the same town. It is wrong to add or as things are at the moment take off percentage points on a general basis. That by the way is also true of Agents who deliberately inflate the price of properties just to sell the new Hips packs or get properties on the books with a view to later reductions.

Ultimately Cyclone, I merely wanted to say the whole is a hit and miss affair and that genuine folks should take it for a pinch of salt.

Flug

I agree that it's hit and miss at least, I just though that your specific critisisms probably weren't fair.

I'm not sure how accurate these are as ours is currently estimated (according to this) at £507,000.

We paid £345,00 for it in 2004.

Hi. I work for Zoopla and I wanted to introduce myself, firstly to say thank you for your comments, and help clarify some of the points raised in this thread.

As you probably know, our site includes all the Land Registry sold price data that you can find on other sites, but also free home value estimates based on our algorithm (secret formula).

The algorithm takes into account quite a few variables, an important one being the last sale price of a house, but we also factor in other things like comparable local house sales and market trends.

Zoopla is a new site, and we believe our estimates are a good starting point, but some are definitely not yet as accurate as we would like. For example, neighbouring or similar properties may have different valuations if improvements have been made to a property that we don't know about. The more information you add to the site for your property and local area, and the more feedback we get, the better the valuations will become.

The estimates on there at present are of no value whatsoever - in fact they are misleading to any potential vendor/buyer who takes any notice of them. The land registry prices are available in lots of places now so that's nothing new in itself.

Hope it improves because I like the idea of the site and some of the features work well.

I got an estimate for my house and it was around £100,000 higher than any realistic valuation.

I'm not sure how accurate these are as ours is currently estimated (according to this) at £507,000.

We paid £345,00 for it in 2004.

Careful, they'll have you marked down as a Bentley driving toff :hihi:

Whilst I had my location set as Arbourthorne for a while and I found people on SF a lot more friendly. It's that old inverse snobbery thing.

According to Zoopla, my house has gone up in value by £7K in 2 years. I have filled in the edit details part, but we have done some improvements which are not listed on the menu e.g. we created a double drive from a single one.

Take it with a pinch of salt, the site said mine's gone up 10k since I bought it 2 years ago but 2 seperate valuations have said 50k.

mine is estimated at £251,290.
not bad to say about a year or 2 ago it was £213k


however from saying that my neighbour's is on the market at £219k

According to that website houses on our street range from 50k to 130k for the same house type. They work a price out based on the last sale price and average rises/falls in the area. Not very accurate really

Zoopla is really good for a guide but your as well to go on property searches and find what similar propertys are being marketed for and possibly selling for.