zoopla house price estimates
Discussion
Are they based on anything in particular, and if so do they represent a fair picture today?
I have never looked at them before, but I checked out a house I viewed yesterday, and the estimated price was within 10k (3%) of the asking price,
Out of interest I checked out my old house in suffolk, which I sold in 2005 - zoopla reckon its worth about 45k (15%)more than I sold it for, which I guess is plausible, if if a bit optimistic
I have never looked at them before, but I checked out a house I viewed yesterday, and the estimated price was within 10k (3%) of the asking price,
Out of interest I checked out my old house in suffolk, which I sold in 2005 - zoopla reckon its worth about 45k (15%)more than I sold it for, which I guess is plausible, if if a bit optimistic
sawman said:
Are they based on anything in particular, and if so do they represent a fair picture today?
I have never looked at them before, but I checked out a house I viewed yesterday, and the estimated price was within 10k (3%) of the asking price,
Out of interest I checked out my old house in suffolk, which I sold in 2005 - zoopla reckon its worth about 45k (15%)more than I sold it for, which I guess is plausible, if if a bit optimistic
Speaking from my own experience, they are hopless, especially in postcodes which contain a variety of house-types... I have never looked at them before, but I checked out a house I viewed yesterday, and the estimated price was within 10k (3%) of the asking price,
Out of interest I checked out my old house in suffolk, which I sold in 2005 - zoopla reckon its worth about 45k (15%)more than I sold it for, which I guess is plausible, if if a bit optimistic
For example if there are 10 2-bed flats changed hand in the past 5 years for an average £100K then the 4 - bed house with double garage in the same street gets valued at £115K.
The metrics they use are no doubt very very complex, but still woefully wide of the mark when I looked.
Other will surely be along shortly to disagree...
It depends on the location and postcode.
Where you have a large dataset of similar houses - eg a big estate or new town like Cambourne nr Cambridge they will be a good indicator - minimal variation in house style, age, size, etc with many houses changing hands.
Where you have a single postcode covering a diverse set of houses - it is a much poorer guide.
Where you have a large dataset of similar houses - eg a big estate or new town like Cambourne nr Cambridge they will be a good indicator - minimal variation in house style, age, size, etc with many houses changing hands.
Where you have a single postcode covering a diverse set of houses - it is a much poorer guide.
Zillow is the US version and sometimes it can be scarily accurate for one house and then miles off for next door. For example the place downstairs to me which is exactly the same floor plan is valued more than my place, even though I have more privacy (top 2 floors) and a much better views.
Anyway, This guy looks like he has dropped a lot and I don't fancy his taxes....
$50M change in the last month
(Bill Gates' house but shows the randomness of the estimates)
Anyway, This guy looks like he has dropped a lot and I don't fancy his taxes....
$50M change in the last month
(Bill Gates' house but shows the randomness of the estimates)
sawman said:
Cheers chaps, I'll not waste any more time looking at them then, Since I posted I tried out a few places that I know well and the estimates do seem a bit erratic!
What I did on Zoopla last year was look at the historic movement of prices, how often a property had changed hands. While not an ideal way, it gave me an idea if an area may have issues, for example, number of houses changing is a small period.Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff