If you’re looking to buy or sell a home, applying for a remortgage or are simply curious about where prices are heading, it’s never been easier to get an idea of price(s) online.
Our extended post on house valuation delves into the various free online tools that you can use for these purposes. But which one is the best and most accurate?
Most Accurate Home Value Website
The main property portals all use data from the HM Land Registry and therefore, in terms of accuracy, they’re all the same.
However, if you want to avoid using sites that have a vested interest in you actually selling your home, the HM Land Registry portal is the best site to use.
It’s essentially an online register of sold property and land in England and Wales. Conveyancing solicitors are legally required to submit the sale price of a property on completion, meaning that the data is completely accurate.
Royal Institute of Chartered Surveyors (RICS) professionals also use Land Registry data to assess current and future market trends as well as for Red Book valuation reports.
Note that it typically takes between 2 and 3 months for the register to be updated – with leasehold properties taking longer.
Using HM Land Registry to Get an Accurate Home Value
The HM Land Registry enables users to enter the details of a particular property into a form that looks like this:
Once the correct information has been entered and searched, you will be able to see the most recent price that was paid for any sold property.
You can use the tool to examine the details of surrounding homes for comparison or more recent data if required. You’ll also be able to see transactional history, property types, tenure type (freehold/leasehold) and whether the sold properties are new build (or not).
What’s more, there are additional tools available via the site that will allow you to:
- Search the UK House Price Index to discover house price trends across the country and
- Generate a report detailing average house prices in a specific area
Note that, if you have web development experience, you can also download and adapt house price data using a SPARQL query.
Expert Home Valuation Techniques
These days, it is absolutely possible to apply several techniques used by professional property valuers.
For instance, here’s a quick process you can use:
Use the HM Land Registry to discover the amount your property last sold for, and when.
Check the property sizes on the national Energy Performance Certificate register.
Search the surrounding area for more recent sales of similar properties.
Check out local trends using the UK House Price Index.
Seek out cached or “previously listed” local properties similar to yours on sites such as Rightmove and Zoopla. Although not always possible, you can discover information about their condition, layout and décor when last sold or let.
Check out Sold STC and Under Offer properties (also on portals like Rightmove and Zoopla). Note that these prices are by no means final (see recent asking vs. sold price differences in your area here).
Note that it is important to avoid totally relying on online data and your own estimates in order to generate an official valuation. The tools above are recommended for estimation purposes only.
Should You Ask an Estate Agent to Value Your Home?
Much will depend on your objectives. For instance, if you’re looking to sell on the open market, it’s worth asking a few estate agents for a valuation.
This service is usually free as these professionals hope that you will instruct their services. However, it’s a well-known fact that estate agents notoriously “massage the figures” to win business. However, having done your own research, you should be able to discern who to believe the most.
If you’re selling, feel free to request one of our free house valuation reports which contains the following:
- Breakdown of the last recorded sales price, estimated current open market value, equity level, price per m2/ ft2, Energy Performance Certificate rating;
- Comparable properties within 1/4 a mile;
- Essential data on the percentage asking price achieved upon sale / average sale time from initial listing to completion;
- House price trends at a county/regional level;
- Average prices of all residential properties sold over the most recently-tracked 12 month period in your postcode;
- Proportional split of different types of residential properties in your postcode;
- Sold prices flats, detached, semi-detached and terraced properties in your postcode over the last quarter;
- The percentage of sales within various price brackets of your property type over the last 12 months in your postcode;
- The average prices of properties of your type with the same number of bedrooms over the last 12 months in your postcode;
- Sales profiles of property sales of your tenure (freehold / leasehold) over the last 12 months;
- A whole page showing some of the recent sales in your postcode;
- The most and least expensive streets in your postcode over the last 5 years – including the approximate distance from your street.
When Should You Get an Independent Surveyor to Value Your Home?
You can usually rely on an independent RICS accredited surveyor to calculate a clear, unbiased valuation for any property. However, you will be required to pay a fee.
There are a number of reasons why you may want to go ahead, including:
- Your property is remote or unique and/or very difficult to ascertain its true open market value;
- You need a professional valuation for equity release, probate or other business requirements;
- The property needs a lot of refurbishment work and you would like to see what kind of value is possible to add;
- A formal valuation has been requested as part of a planning consent application;
- You simply want to show prospective home buyers a true, non-biased valuation.
These surveys / valuations usually start at around £300 and may reach £1,500, depending on the size and complexity of the property and the eventual value.
FAQs
What is the most accurate online home value estimator UK? ›
Most Accurate Home Value Website
The main property portals all use data from the HM Land Registry and therefore, in terms of accuracy, they're all the same. However, if you want to avoid using sites that have a vested interest in you actually selling your home, the HM Land Registry portal is the best site to use.
While an online valuation tool can provide an idea of how much a property is worth, it will never be as accurate as getting us to visit your property. You shouldn't, for example, price your property for market based on an online valuation tool alone.
Is Zoopla valuation accurate UK? ›Zoopla's Online Valuation
Zoopla uses data sources from HM Land Registry (England and Wales), Registers of Scotland, Ordnance Survey, the Royal Mail's postcode database and Google Maps. These are all completely non-bias and legitimate.
Both have information on house prices, and will also link you up with an agent to aid and ease transaction processes. However, Zoopla gives an instant value for your property. It has fantastic tools for both buyers and sellers that Rightmove lacks.
What is more accurate than Zillow? ›Redfin's home value estimator is more accurate than Zillow's when it comes to pinpointing the sales price. According to Redfin, its estimates are approximately 74% accurate within 5% of the sales price for listed homes. By comparison, Zillow is only 67% accurate within 5% of the sale price for listed homes.
Is realtor or Zillow more accurate for home value? ›The Zestimate is often less accurate than your Realtor's estimate and can be thousands of dollars off. According to Zillow's Zestimate page, “The nationwide median error rate for the Zestimate for on-market homes is 1.9%, while the Zestimate for off-market homes has a median error rate of 7.5%.
Is Zillow pretty accurate for home values? ›Zillow's Zestimate has been found to have a nationwide error rate of 1.9 percent for on-market homes. When it comes to estimating home values for off-market housing, the error rate jumps to 6.9 percent. Overall, Zestimate accuracy is between 95% and 96%, so it's pretty accurate in most cases.
Can I trust Zoopla valuation? ›No, Zoopla's estimates are not accurate. They should be used as a general guide and not a formal valuation. You should always get a second opinion from an estate agent or online estate agents.
Are Zoopla prices realistic? ›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 do I find the market value of my house UK? ›- Look at National and Local Housing Market Trends. ...
- Look at Similar Properties to Yours That Have Sold. ...
- Research the Local Region. ...
- Comparison. ...
- Profits. ...
- Residual. ...
- Contractors.
How accurate is RICS valuation? ›
Estate agent valuations will give you an idea of how much a house or flat is worth, but an RICS valuation provides an accurate figure based on a framework set out by the RICS.
Are Rightmove prices accurate? ›Rightmove House Price Index - reliable methodology
While some property market reports are based, to a certain extent, on the opinions of real estate professionals, the Rightmove House Price Index is produced entirely from factual information about actual prices of residential properties currently on the market.
In the United Kingdom, there is no one website that dominates the online real estate market like Zillow does in the United States. There are a variety of property websites that cater to different audiences and serve different purposes. Three popular property websites in the UK are Rightmove, Zoopla, and OnTheMarket.
What is the American equivalent of Rightmove? ›Zillow. I fantasy shop houses in Malibu. That's the sort of thing I was looking at,QuestionableMouse, but I wanted more details: what's it look like on the street, furnished, etc.
Which is better on the market or Rightmove? ›OnTheMarket has the best visual display as there is less clutter, and search filters can be displayed or hidden. If what matters most is the widest availability of property, we recommend Rightmove. If technology is not your strong point and ease of use if of importance to you, we recommend On The Market.
Is there anything better than Rightmove? ›Property portal alternatives to Rightmove
While Rightmove has the vast majority of property sale listings, there are two other websites that you should use as well. These are Zoopla and On The Market. Both of these property websites will have properties not listed on Rightmove.
Rightmove is the UK's biggest property portal, both in terms of its inventory of properties and number of users, making it the go-to property portal for buyers, sellers and renters.
What is the most popular property website? ›Zillow is the largest real estate website in the United States, ranked by visitor traffic. In the last year, Zillow averaged 60 million monthly visitors.
What is the most viewed property on Rightmove? ›Alan Carr and Amanda Holden's renovation home named Rightmove's most viewed property.
Who is the biggest competitor of Zillow? ›For core listing services, Realtor.com is their biggest competitor. What site is better than Zillow? Zillow's real estate offerings are some of the most comprehensive, but Redfin and Realtor.com offer some comparable services, especially in terms of home valuation.
Is MLS better than Zillow? ›
If you are able to view the MLS in your area online directly, you will only see properties that are currently active on the market. This makes the MLS more accurate than Zillow, which frequently keeps properties listed as available long after they have been taken off the market.
Which website is more accurate Zillow or realtor? ›A Realtor estimate, or a Comparative Market Analysis, should be more accurate and more detailed than an online valuation tool like a Zestimate. There are several reasons for this. First, real estate agents who know a particular area will be intimately familiar with the comparable sales.
Why does Zillow underestimate home values? ›If your home has more value-factors (bigger square footage, better condition, more amenities, etc) than the comparables that are pulled, then your Zestimate is likely to be lower than actual value.
Is Realtor com accurate for home values? ›No, the RealEstimate℠ home valuation data points listed are estimates and not formal appraisals. While the goal is to provide more insight into a home's potential value, it should be considered a starting point. Please contact a professional real estate agent to further understand a home's value in the current market.
Is Zillow or Trulia more accurate? ›How Accurate Are Trulia Estimates? Trulia Estimates are identical to Zillow Zestimates because both websites use the same data. The only difference is that Zillow Zestimates show both on-market and off-market properties, but Trulia only shows off-market estimates.
How do I get an accurate property valuation? ›For an accurate valuation, use a local estate agent
A local agent will have a better understanding of house prices in your neighbourhood, where even within the same postcode different streets (or even different ends of the same street) can command very different prices.
Zoopla house price estimates are our opinion of the market values of homes and are calculated using historic data and current local trends. Our Automated Valuation Model (AVM) is powered by Hometrack, which is the UK's biggest automated valuer of residential property.
Why does Zoopla not show all sold prices? ›My sold price data is missing
Sold price data is supplied to us in monthly updates from the government. There can be a delay of 3-6 months between the transaction date and when it's officially recorded and passed to us.
The information we have on your home may be different to that of your neighbours. For example, if your neighbour moved in more recently than you, we'll have extra sales data on their property. We'll include that information in our calculations.
Can you keep your house price off Zoopla? ›As our estimates are based on publicly available data, we don't tend to remove estimates on individual properties. However, there are individual cases where we can suppress your current estimate from displaying on our live website, if you believe there is an inconsistency in the current estimate for your home.
How do I know if my house is worth the asking price? ›
You can determine home value by using an online valuation tool, hiring an appraiser, using a real estate agent, or checking comparable homes in your area. Using an online valuation tool or pulling comps in your neighborhood is easy and quick, but you'll receive more accurate results using a REALTOR® or appraiser.
How do valuers value property UK? ›The valuer will look at a range of factors, such as the type and size of the property, its location, condition, age, garden size, development potential, parking and the value of similar properties in the local area.
How much is the UK residential property market worth? ›UK House Price Index: December 2022
Average house prices increased over the 12 months to £315,000 (10.3%) in England, to £222,000 in Wales (10.3%), to £187,000 in Scotland (5.7%) and to £175,000 in Northern Ireland (10.2%).
We are legally required to note the price paid information on a register of the title for all residential properties sold for value. The register of title is a public document, so we would be breaking the law if we failed to allow access to the register or excluded the price paid information.
Which valuation method is the most accurate? ›Discounted Cash Flow Analysis (DCF)
In this respect, DCF is the most theoretically correct of all of the valuation methods because it is the most precise.
The scandal erupted over financial management, an internal power struggle and the ousting of four non-executive directors in 2019, after they discovered and raised the alarm over the existence of a 2018 financial report by accountant BDO which warned of the risk of “unidentified fraud, misappropriation of funds and ...
Is RICS any good? ›These include professional accreditation and working to international standards. As a benchmark qualification recognised around the world, RICS qualification also acts as a global work passport, and membership provides increased work opportunities.
Are all properties on Rightmove legit? ›Although scammers sometimes impersonate agents, by searching for a property on Rightmove, Zoopla, OnTheMarket or the agent's own website, you can be as sure as it's possible to be that the listings you're looking at are genuine.
What is the best property search engine? ›Rightmove is currently the market leader. In 2021, Rightmove says it had 208 million visits per month across its platforms and Zoopla says its listing search results pages attracted over 120 million visits per month. If you're looking to buy then you'll want to know how many properties are listed.
Do all properties go on Rightmove? ›For one thing, only estate agents can list properties for sale on Rightmove. That means you'll only see properties from estate agents who use Rightmove and you won't see any properties being sold privately.
Can you trust Zoopla estimates? ›
No, Zoopla's estimates are not accurate. They should be used as a general guide and not a formal valuation. You should always get a second opinion from an estate agent or online estate agents.
How accurate are online home value estimates? ›The fact that major online calculators may be working from incomplete data means that home value estimates may be off. But it isn't by much. Redfin strives to deliver estimates that are within 3% or less of a home's selling price. Zillow even goes as far as to list their median error for top housing markets.
How much can you trust Zillow estimates? ›How accurate is the Zestimate? The nationwide median error rate for the Zestimate for on-market homes is 2.4%, while the Zestimate for off-market homes has a median error rate of 7.49%. The Zestimate's accuracy depends on the availability of data in a home's area.
Which site is more accurate Zillow or Redfin? ›Redfin's home value estimator is more accurate than Zillow's when it comes to pinpointing the sales price. According to Redfin, its estimates are approximately 74% accurate within 5% of the sales price for listed homes. By comparison, Zillow is only 67% accurate within 5% of the sale price for listed homes.
Is realtor com or Zillow more accurate? ›Realtor.com is arguably the most accurate real estate listing platform today. It is affiliated with over 580 regularly updated MLS databases across the U.S. Realtor.com also operates in more regions than Zillow and Redfin simply because it's been around for longer, that is since 1996.
How accurate is home value on Realtor? ›Are Realtor Estimates Accurate? A Realtor estimate, or a Comparative Market Analysis, should be more accurate and more detailed than an online valuation tool like a Zestimate. There are several reasons for this. First, real estate agents who know a particular area will be intimately familiar with the comparable sales.
Which is better On The Market or Rightmove? ›OnTheMarket has the best visual display as there is less clutter, and search filters can be displayed or hidden. If what matters most is the widest availability of property, we recommend Rightmove. If technology is not your strong point and ease of use if of importance to you, we recommend On The Market.