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ianterry

Rightmove or Zoopla

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Hi please be gentle , first post not sure if Im in the right area but here  goes which is the best from above regarding accurate area and street house prices.

The area might be 130,000 ,but the last sale in say Smith Street might be 110,000

Whats the best way forward for an accurate assumution

Hope this makes sense thanks Ian

 

 

 

 

 

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I find Zoopla valuations are usually way off the mark - its a simple algorithm applied to the last sale price & can be easily manipulated.

Rightmove 'house prices' is a better guide as it details land registry verified prices but this doesn't always tell the whole story so you have to use your common sense.

Bottom line...a house is worth what someone is prepared to pay for it!

Good luck :)

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As Julia said Zoopla's valuations aren't the greatest so I wouldn't use it as a benchmark.

You could either look at what properties in the area  have sold for using Rightmove or Zoopla or you could call local estate agents and pose the question (it is good to call a few to get an average).

 

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The tip of a very large iceberg.

The short answer is all of them.

As @julia urquhartsaid, Zoopla is just an algorythm, but it does have it's uses. 

You have to try and develop a "feel" for the location. If property A sold for 100k but property B a few doors away sold for 150K you have to try and establish why that was. Zoopla often gives historical marketing materials, look at them. Was is a wreck or sold as refurbished? Look at bedrooms, floorplans, parking, in short just about everything you can think of.

After many, many hours, you might (might) have an idea of where your intended purchase sits in the street price map. Then you can go from there.

 

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Hi Ian

Depending on how long you have before you want to purchase, I find keeping a spreadsheet to track all the properties in your preferred area a great way to identify values. You can track when they were first advertised and for what price, reductions, if they've been taken off the market and re-listed. If they do get sold, then wait a few months and check on Land Registry / Mouseprice / RightMove, or just give the selling agent a call.

That way, after about 6 months, you have a view of the area - what's sold, what hasn't, average prices, property types and standards etc. 

Takes a bit of effort to maintain (unless you want to outsource to a VA) but it's not very difficult, do it while watching TV, listening to podcast or something in the background. 

 

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