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  1. Blog
  2. How accurate are Zoopla estimates?
Help for first time sellers
11 March 2020

How accurate are Zoopla estimates?

Rosie Hamilton
Writer & Researcher
View over an orchard towards hills with a row of pastel painted houses

Table of contents

  1. 1. How does Zoopla estimate prices?
  2. 2. So, how reliable are Zoopla house values?
  3. 3. How can I get a more accurate valuation?
  4. 4. FAQs

Updated 28th January 2020

Zoopla’s free online valuation tool: ‘How much is my home worth?’ is the first port of call for many sellers trying to figure out the best asking price for their home. However, Zoopla has come under fire for being misleading about how accurate their valuation tool actually is.

When Zoopla updated the tool in January 2020 many people noticed their house price estimate dramatically reduced. One user found their property had reduced in price by 49% overnight.

Below we explore how Zoopla’s ‘How much is my home worth?’ tool works, and how accurate it really is.

How does Zoopla estimate prices?

When figuring out what your house is worth, Zoopla’s updated estimate tool:

  1. Starts with the price your property was last sold for.
  2. It then multiplies this by the average increase or decrease in value other similar properties in your area have experienced since.
  3. Generates its estimate of how much it thinks your house is worth

Zoopla’s estimates aren’t able to take into account any major changes that you’ve made to the property since you bought it - such as an extension. It’s also not able to consider any of the unique features of your property.

So, how reliable are Zoopla house values?

The reliability of Zoopla’s valuation tool varies massively. The estimate is much more likely to be accurate if other properties in your area are similar to your home in terms of size, age and condition. If you’re trying to value a more unusual property you’ll find the estimated value is less accurate. Areas where properties are sold regularly will also see more reliable estimates because Zoopla’s record of house prices will be more up to date.

We recommend that you avoid using Zoopla’s valuation tool to determine what your home is worth. It provides very generalised estimates and there are a number of conditions that the tool is completely unable to take into account. Zoopla themselves note that ‘It’s important to remember that the value given is just an estimate’.

Ultimately the true value of your home is what a buyer would be willing to pay for it at that moment. This is generally worked out by comparing your home with the other properties on the market: what they are charging and what additional features you offer. This sort of nuance is very difficult to achieve in a generalised online valuation.

How can I get a more accurate valuation?

The best way to find out how much your house is worth is to talk to a local high street estate agent with a track record of accurate valuations.

They will be able to use their knowledge of the local market to position your property against those currently for sale, and those recently sold. The best local agents will know about the unique features of other properties on sale nearby, and what your home offers that differentiates it from these properties. This will help them to accurately estimate the value of your property.

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If you're not ready to have an estate agent come round for a valuation, we'd recommend getting a few different online valuations - rather than relying on a single one. This is because different tools use different data to provide you with a value estimate.

For example, where Zoopla's tool looks at asking prices in your local area, GetAgent's tool combines data about recently sold properties in your area with information you tell us about the condition and unique features of the property. Both tools can only provide an estimated value, but together should begin to give you a sense of what amount is reasonable to expect.

Try our house valuation tool for free now.

FAQs

How accurate are zoopla estimates?

Zoopla estimates are not accurate. The main reason they're not accurate is that it can only base the estimate on data it has access to and if this date is out of date or inaccurate then your valuation estimate will be too.

Their estimates do not take into account key information like - changes you have made to your property and the condition its in. If you live in an area with lots of similar properties then Zoopla's estimate will be closer to the truth but if you're selling a more unusual property or in an area where houses sell less often then you'll find the estimate less reliable.

Are Zoopla estimates accurate?

No, Zoopla estimates are not accurate. As with all online valuations they are only an estimate. If you live somewhere with lots of recent sales data then you'll get a better more accurate figure, but your best bet is always to get an in persion valuation from at least 3 estate agents.

How often does Zoopla update house prices?

Zoopla updates their house prices once a month but not on a set day. They use various sources including HM Land Registry, Royal Mail, Ordnance Survey and Registers of Scotland. Prices are updated in line with when these sources also refresh their data. Zoopla allow you to track a property so you can see when the estimated price has been updated.

When does Zoopla update house prices?

There is not a set day when Zoopla updates their house prices, however it typically updates once a month when all the data has been aggregated and updated from the sources they use.

Why is my house price not on Zoopla?

When Zoopla's Automated Valuation Model (AVM) doesn't have reliable or sufficient data on your house, or similar properties your house price won't be on Zoopla. As they get more data this can change over time. You cannot send them updated data on your house to fix this as it isn't a manual process.

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