Jester Posted April 11, 2009 Share Posted April 11, 2009 I have recently sold my house 9so that I could downsize) and the price, as advised by the estate agent, was actually quite close to the Zoopla sites assessment of my house. I am now looking to buy. I see lots of house that I like but they seem very highly priced compared to the one that I sold and also compared to Zoopla. Is Zoopla accurate? Quote Link to comment Share on other sites More sharing options...
Normal Posted April 11, 2009 Share Posted April 11, 2009 I have recently sold my house 9so that I could downsize) and the price, as advised by the estate agent, was actually quite close to the Zoopla sites assessment of my house.I am now looking to buy. I see lots of house that I like but they seem very highly priced compared to the one that I sold and also compared to Zoopla. Is Zoopla accurate? No, how can it be? Quote Link to comment Share on other sites More sharing options...
Frank Hovis Posted April 11, 2009 Share Posted April 11, 2009 No, how can it be? Any chance of a quick summary of how it works then? It hasn't looked that accurate when I've looked at it but if it is just using a small number of recent transactions as its basis (as it appears to me) then it can only ever be a start point. Quote Link to comment Share on other sites More sharing options...
Normal Posted April 11, 2009 Share Posted April 11, 2009 Any chance of a quick summary of how it works then?It hasn't looked that accurate when I've looked at it but if it is just using a small number of recent transactions as its basis (as it appears to me) then it can only ever be a start point. IIRC it simply takes the last sold price and date and calculates what that price would be compared to what the market has done since then. It therefore lags the market, has no idea of what improvements or otherwise have been done on the property you are interested in, and so can be wildly inaccurate. As a quick test, find a block of flats near you and see what it thinks the price should be for each flat. You'll quickly realise it isn't much of a guide at all. Quote Link to comment Share on other sites More sharing options...
GrillsBears Posted April 11, 2009 Share Posted April 11, 2009 I have recently sold my house 9so that I could downsize) and the price, as advised by the estate agent, was actually quite close to the Zoopla sites assessment of my house.I am now looking to buy. I see lots of house that I like but they seem very highly priced compared to the one that I sold and also compared to Zoopla. Is Zoopla accurate? Since Zoopla doesn't buy houses no it isn't. Quote Link to comment Share on other sites More sharing options...
Frank Hovis Posted April 11, 2009 Share Posted April 11, 2009 IIRC it simply takes the last sold price and date and calculates what that price would be compared to what the market has done since then. It therefore lags the market, has no idea of what improvements or otherwise have been done on the property you are interested in, and so can be wildly inaccurate.As a quick test, find a block of flats near you and see what it thinks the price should be for each flat. You'll quickly realise it isn't much of a guide at all. Ta, that makes sense from the figures I've seen. For postcodes where there are virtually no transactions the values were just wrong. It's a useful resource, just not an accurate price guide then. Quote Link to comment Share on other sites More sharing options...
Jason Posted April 11, 2009 Share Posted April 11, 2009 You can add more info to the house, and I assume it adjusts for that. However, I've noticed it's got houses in the wrong category, e.g. a detached as a semi. However, it's still one of many tools to use.. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted April 11, 2009 Share Posted April 11, 2009 About as accurate as counting your grandmother's farts to pick Grand National winners. Quote Link to comment Share on other sites More sharing options...
Jester Posted April 11, 2009 Author Share Posted April 11, 2009 Thanks guys. It seems to me that Zoopla works in two ways. Firstly it will record the price that a particular house sells at and then adds on or takes away the changes since then. Secondly people can add data themselves and so amend the price of the house. I have done this myself for my own house but also when I saw a house for sale I added the asking price to Zoopla. I was just kind of playing with it. Personally I think it's a tool that can help. It certainly helps to highlight if a house is way off beam i think. Quote Link to comment Share on other sites More sharing options...
Girly girl Posted April 11, 2009 Share Posted April 11, 2009 Well not at all really because it doesn't allow for variables, for example our house is very like next doors to the right only we have an extra 30' of garden and a brand new kitchen and bathroom and is newly decorated throughout, so I would expect that ours would sell for more, yet zoopla would price them the same. Next door on the other side has been converted for a disabled child and is in good repair but needs major cosmetic work so that would be worth less than both the other houses. Pricing is not an exact science, a house is worth what a buyer will pay and a seller will accept. Quote Link to comment Share on other sites More sharing options...
mattley Posted April 11, 2009 Share Posted April 11, 2009 It's a bit wayward round my way showing places between 124 and 238K, OK there may be a slight variation due to proximity to main road and outlook but essentially they're all identical. Quote Link to comment Share on other sites More sharing options...
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