neon tetra Posted February 6, 2011 Share Posted February 6, 2011 I have raised a question in an earlier thread about Zoopla's methodology in its valuations (http://www.housepricecrash.co.uk/forum/index.php?showtopic=157712). Anyway, I have been tracking a certain house valuation for just over 3 weeks, just to see how the price is moving. To my surprise , this happened this morning: So my question is, after following a rough trendline for three weeks, why the sudden plunge...? And I mean PLUNGE... Does this represent a tweak in their valuations algorithm? Or something more sinister? (I hope the latter) Anyone else tracking the price of anywhere via Zoopla? Any thoughts? Quote Link to comment Share on other sites More sharing options...
Pent Up Posted February 6, 2011 Share Posted February 6, 2011 Maybe the lastest land registry data came in devalued the area by 0.6%. Quote Link to comment Share on other sites More sharing options...
plummet expert Posted February 6, 2011 Share Posted February 6, 2011 I have raised a question in an earlier thread about Zoopla's methodology in its valuations (http://www.housepricecrash.co.uk/forum/index.php?showtopic=157712). Anyway, I have been tracking a certain house valuation for just over 3 weeks, just to see how the price is moving. To my surprise , this happened this morning: So my question is, after following a rough trendline for three weeks, why the sudden plunge...? And I mean PLUNGE... Does this represent a tweak in their valuations algorithm? Or something more sinister? (I hope the latter) Anyone else tracking the price of anywhere via Zoopla? Any thoughts? You cannot take these on line valuation tools seriously. They are often flawed by various statistical anomolies. Just do your own research. Prices are manipulated in all markets. What you actually pay is all that counts. Quote Link to comment Share on other sites More sharing options...
Horridbloke Posted February 6, 2011 Share Posted February 6, 2011 I have raised a question in an earlier thread about Zoopla's methodology in its valuations (http://www.housepric...howtopic=157712). Anyway, I have been tracking a certain house valuation for just over 3 weeks, just to see how the price is moving. To my surprise , this happened this morning: So my question is, after following a rough trendline for three weeks, why the sudden plunge...? And I mean PLUNGE... Does this represent a tweak in their valuations algorithm? Or something more sinister? (I hope the latter) Anyone else tracking the price of anywhere via Zoopla? Any thoughts? Plunge? Really? Those of us who bothered to read the y axis wouldn't call it that. Quote Link to comment Share on other sites More sharing options...
fellow Posted February 6, 2011 Share Posted February 6, 2011 Plunge? Really? Those of us who bothered to read the y axis wouldn't call it that. A MASSIVE drop of £1500 on a £250,000 house. Quote Link to comment Share on other sites More sharing options...
neon tetra Posted February 6, 2011 Author Share Posted February 6, 2011 A MASSIVE drop of £1500 on a £250,000 house. Okay, so my use of plunge is nuanced by not very big drops over the preceding 3 weeks. But actually 0.6% in a day is an 88.9% drop in a year... Quote Link to comment Share on other sites More sharing options...
neon tetra Posted February 7, 2011 Author Share Posted February 7, 2011 (edited) A MASSIVE drop of £1500 on a £250,000 house. Okay, so today.... A £10,000 drop.... WTF...?!?!?! Edited February 7, 2011 by neon tetra Quote Link to comment Share on other sites More sharing options...
neon tetra Posted February 8, 2011 Author Share Posted February 8, 2011 Okay, so the previous £1,000-odd drop pales into insignificance against the almost £10,000 drop. That is getting to be significant (5% drop in a month) Burn, baby, burn! Quote Link to comment Share on other sites More sharing options...
Pent Up Posted February 8, 2011 Share Posted February 8, 2011 Okay, so the previous £1,000-odd drop pales into insignificance against the almost £10,000 drop. That is getting to be significant (5% drop in a month) Burn, baby, burn! I got my zoopla update today so they obviously have used the new land reg data to adjust the area you are looking at down quite considerably! The area I'm monitoring is -0.6% yoy -6.2% 6m and -1.8% 3m I'm quite happy with that. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted February 8, 2011 Share Posted February 8, 2011 Zoopla raises the spirits for me. I am tracking a number of porperties and take delight at the red arrows which show BIG drops starting around November of last year. Way I see it, those redfuctions have not moved any of them so they will probably drop another 10% next month as supply is increasing around here and jobs are going in local government and then by another 10% in the run up to summer following a failed Spring bounce and the fact that some of these have been on a year without any offers : http://www.zoopla.co.uk/for-sale/details/11900848?search_identifier=57275de3f0d228acbcf2d74772fe39fa The Promenade, Peacehaven £300,000 - 5 bedroom bungalow for sale Asking price changes £339,950 ↓2.9% Reduced on: 17th Sep 2010 £337,950 ↓0.6% Reduced on: 29th Sep 2010 £335,950 ↓0.6% Reduced on: 30th Sep 2010 £300,000 ↓10.7% Reduced on: 6th Dec 2010 Like shifting a massive turd--squeeze little bits out followed by a major breakthrough in December! http://www.zoopla.co.uk/for-sale/details/12501164?search_identifier=57275de3f0d228acbcf2d74772fe39fa Asking price changes £290,000 ↓12.1% Reduced on: 18th Oct 2010 http://www.zoopla.co.uk/for-sale/details/11536966?search_identifier=57275de3f0d228acbcf2d74772fe39fa First listed on Zoopla £289,950 on 13th Jul 2010 Asking price changes £279,950 ↓3.4% Reduced on: 27th Sep 2010 £250,000 ↓10.7% Reduced on: 6th Dec 2010 http://www.zoopla.co.uk/for-sale/details/12501250?search_identifier=57275de3f0d228acbcf2d74772fe39fa First listed on Zoopla £279,000 on 9th Sep 2010 Asking price changes £250,000 ↓10.4% Reduced on: 14th Jan 2011 http://www.zoopla.co.uk/for-sale/details/13508753?search_identifier=57275de3f0d228acbcf2d74772fe39fa First listed on Zoopla £265,000 on 4th Nov 2010 Asking price changes £245,000 ↓7.5% Reduced on: 24th Jan 2011 Quote Link to comment Share on other sites More sharing options...
neon tetra Posted February 8, 2011 Author Share Posted February 8, 2011 Solved? This graph shows how the Zoopla valuation seems to have tracked (but lagged) the asking price: Might this go part way to explaining some of their methodology? Quote Link to comment Share on other sites More sharing options...
mrhappy Posted February 8, 2011 Share Posted February 8, 2011 They have just added alot of data, my purchase in September has just been added, I was wondering why it took them so long as I thought they added the land reg data monthly, looks like its every 6 months... Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.