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How accurate is Zoopla estimate on house value?

Looking to buy but every house we have seen we have checked "estimated value" on Zoopla and several houses priced at £170,000 are at least twenty thousand over priced according to Zoopla, how accurate is the value system?

Asked on Jun 17 2014, House Prices in Saxmundham | Report content

Answers (1)

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  • Sometimes it is about right, sometimes it is not. Zoopla prices are mainly based on Land Registry data. As these are sold prices they tend to lag behind the current market, the prices are not registered until after completion which normally be several months after an advertised property has been marked 'under offer' or 'sold'. Also Zoopla shows prices by postcode rather than the administrative areas used by the Land Registry Index, so Zoopla's calculations may in some cases be based on too small a sample of prices to provide a stable index.

    Answered on Sep 7 2014, Report content

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