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Tuesday, September 09, 2014

Zoopla's price estimates don't seem accurate

Zoopla's price estimate data seems to be about as accurate as a drunk myopic archer shooting in a gale.

I've just had a look at their price estimates for a street I know very well. The street is lined with Edwardian semi's, all pretty much identical, in size and layout, but with some more spruced than others.
I would factor in a £100,000 price range to cover the worst to the best, dependent on condition, outlook and layout.

So here's what Zoopla's price estimate came up with, in no particular order - £552,181, £917,200, £721,197, £814,769, £690,446, £751,380, £802,387, £849,255, £821,940, £869,873, £1029,766, £828,838, £786,028, £616,478.

With prices from £552k to £1029k that's a range of £477,000. 

It appears that despite grinding through a mass of data, Zoopla's figures are less accurate than a damp finger held up to the breeze.

Zoopla you need to sort out your estimation algorithms.

Don't you just love technology.

1 comment:

Anonymous said...

Well said! I have looked at Zoopla's estimates for houses in my area (Sussex) and how they have increased in the last few years and Zoopla is often ridiculously way out with their guesses.