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How are the confidence levels on houses worked out on Zoopla?

Just wondering how the confidence levels are worked out and how much they affect a houses value. I have seen a large house with a medium confidence level to be the same price as a smaller house with a higher confidence level. Any help will be appreciated. Thanks

Asked on Apr 18 2012, Using Zoopla in High Wycombe | Report content

Answers (1)

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  • Zoopla has developed an algorithm that works out the current market value of property based on past sales etc. Other sites do this like mouseprice for instance. It can be accurate or inaccurate. It should not affect your property price as mortgage companies do not rely on prices worked out by an algorithm. An estate agent or building surveyor can value a property higher or lower too. Ultimately a property is worth what someone is willing to pay for it. There is no 100% accurate way to value property, it isn’t an exact science. Looking at past sale prices for similar properties is the best way to get an idea of what your property is worth.

    Answered on Apr 22 2012, Report content

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