The internet is full of tools that help to make everyday life easier. In the real estate industry, there are lots of websites and tools that simplify real estate operations. One of the most sought after services in the real estate industry is valuation services.
Valuation services help one to determine the value of a property based on select factors such as location and the condition of the property. There are various service providers available out there with each serving a certain segment of the market. This article compiles 5 of the best online tools for house valuation in the UK.
Zoopla allows you to estimate the value of any property in two ways. The first method is to check the posting of the property in your neighbourhood. This helps you to get a rough idea of how much properties go for around that area.
If you are looking for accurate results, use the Zoopla estimate tool. The tool uses a proprietary formula to calculate the value of a property. The formula uses data from property sales throughout the UK and comes up with an estimate.
Zoopla also has a tool that allows users to check how much a property was sold for in the past. This feature allows one to monitor how much the property has gone for in the past. This tool can help one to negotiate a good deal based on past prices.
This is one of the bigger service providers out there. Rightmove’s advantage is that it has lots of property listed on its website. This implies that one can compare the prices of properties listed to get an idea of different properties’ prices in a certain area.
Rightmove uses information from their database as well as from the Land Registry and sold house information to calculate the estimated value of a property.
Property Price Advice
Property Price Advice is one of the best service providers out there. The website helps clients to get instant valuations for their properties. Their customers have described their services as free, accurate and instant.
In order to get a valuation, one is required to key in information such as the postcode and then answer a few questions relating to the house undervaluation. These questions seek to establish aspects such as the number of rooms, the size of the house and the condition of the property.
Once the information has been submitted, an algorithm then takes over and processes the data. The results are then displayed instantly. Property Price Advice prides itself as an industry leader due to the accuracy of their valuations. To ensure that the valuations are always accurate, the company regularly reviews its valuation formula to align it with emerging issues.
The land registry has various tools that can help one determine the value of a certain property. For instance, they allow prospective property buyers or sellers to have access to a house price data tool, price calculators as well as heat maps. I found the land registry convenient for most people because it allowed me to value my house all by myself.
The price data tool allows one to see the price of properties that were recently sold. This can help you to have an idea as to how much properties go for in a certain street. This information is available for all property sales in England and Wales.
It is also important to note that most of the leading property valuation websites derive their data from this site. The land registry contains property information dating back from January 1995. This is information such as property addresses, sold prices, property type and transfers. This makes the registry a great source of information on various properties.
This site provides valuation information in the form of a range. For example, they can state the value of a property as £2100 00 – £2300 00. Mouseprice uses a few data points to calculate the estimated value. In most cases, they only ask for the postcodes. Due to these reasons, many experts say that their estimate is likely to be less accurate when compared to other tools.
Factors Affecting the Value of Property
When calculating the value of a house, be on the lookout for the factors that are likely to affect the price of a certain property other than the postcodes. Factors such as the likelihood of an area to flood, for instance, will affect the price of properties in the area. Environmental factors and the levels of pollution in an area can also have a dent on how much a property fetches in the market. Other factors include crime rates, network coverage, and access to infrastructures such as schools and transport routes.