Whether you’re looking to sell, just wondering what your house is worth, or want to see what value your changes have made, there’s different ways you can find out how much your property is worth. It’s difficult to get an accurate valuation online, but we’ve looked into a few methods for you to get an idea. We cover how to research nearby sold property prices, how to track local and national property price trends, where to get a free online valuation, and how to find out how much your house may have increased in value over the years.
Research what properties nearby have sold for
Part of a house’s value depends on location. Take a look on Rightmove or Zoopla to see what properties close to yours have sold for, taking into account the number of bedrooms, square footage, garden size and more. Even if all of these factors are similar, the house you’re comparing with could have a newer kitchen or bathroom, solid wood floors, or other smaller details which add to the value. Try and assess as much as you can from images, and Google Street View can be useful to look for extensions.
Track trends – locally and nationally
Tracking house price trends on both a local and national scale is very insightful for your property’s value. The Land Registry provides average house prices per country and region, broken down by property type. Take a look for your area here. Bear in mind that this data is often a month or so out of date.
Halifax’s house price index is based on approved mortgages, so not all of these will have resulted in a house sale. However it provides a house price map and updates more quickly than the Land Registry.
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Get a free online valuation
Free online valuations can be highly inaccurate, so take them with a pinch (or handful) of salt. Zoopla offers an estimate of the price of a house. Just type in your postcode to get data based on previous sale prices, asking prices, property characteristics, and the market climate.
If you’re willing to answer some questions and provide your email address, Property Price Advice is worth a look. It takes into account changes in local sold prices and uses an algorithm, but can overvalue properties.
Get an idea of your home’s change in value
Lived in your home for a few years and wondering what the difference in value may be now compared to what you bought it for? Check out Nationwide’s house price index and enter when you bought your house and how much for to see an estimate of what it could be worth now. This tool doesn’t take into account any improvements made to the home, so if you’ve added an extension or replaced the kitchen, it won’t be reflected in the estimate.
In summary, you can’t get an accurate valuation of your home online, you’d need to get someone to view your house to give it an accurate valuation. Estate agents can do this before putting your property on the market, or you can bring in an independent person.
I began writing for Property Press Online in October 2019. Particular areas of interest are housing market news and new developments in the market.
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