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How To Value Your Property

How To Value Your Property

You may think that you need an Estate Agent to value your property but in fact you can value your property yourself; you do not need to rely on Estate Agents.  You should even be wary of trusting Estate Agents too much because they can sometimes overvalue a property in order to either secure the business or to gain extra commission.

One thing to remember when valuing your property is that you should not rely on data from one website alone even if that website tells you that your home is worth £1 million.  What you need to do is to get results from several websites and then get the average house value that they are telling you, rather than what we all want to do, which is to accept the highest figure that is shown...... 

Here is a list of websites to help get you started!

Houseprices

Houseprices asks you to enter a street or your postcode in order to see which properties have been sold recently and what they were sold for.  You can even get a Google map that shows you which streets attract the highest property values.

Nethouseprices

This is effective the same as Houseprices and you simply enter your data in and then see what house prices in your locality are averaging. 

Ourproperty

Ourproperty actually dates back to 1995 (2000 for Scotland) but it can tell you house prices from these dates, which makes it a very comprehensive site.  You will have to register with this site, but it is free.

Zoopla

Zoopla has a great facility that will let you match up the sold prices of properties with old property ads so that you can see how much the difference was between the asking and sold prices and you can compare like with like.  So you can see which properties had facilities like yours.  This is still in its infancy, but it is growing and is a really great way to see details of properties.  To use it go to the Home Values section on Zoopla and then search for a specific area and click on the Hs(in red) to see the historic listings.

Rightmove Price Comparison Report

You can also use Rightmove Price Comparison Reports to see not only the sold prices for houses, but often the details that were submitted. Rightmove Price Comparison Reports will show the ads for the properties so that you can see how much they were on sale for, which were like yours and what price they sold for.

Land Registry (England and Wales) or Registers of Scotland

These registers carry details of all the houses sold and the House Price Index will give the average house prices by different regions and localities.  These tend to be a little behind the times and it takes 3 months for data to be updated, but it is still a very useful site, to see just how much things did cost.

Halifax Statistics

The Halifax is the biggest mortgage lender in the UK and it has many details and statistics but the only caveat is that it is based on mortgage approvals and often having a mortgage is irrelevant if the sale does not go through.  The Nationwide has a similar service, although it may not be as comprehensive.