Every homeowner wants to know how much their house is worth. Aside from buying somewhere to lay down roots, we all hope our home increases in value over time. Despite the sentimental aspect of owning property, it is, essentially, an investment. After all, buying a house is likely the most expensive purchase you’ll ever make. Why wouldn’t you want its value to increase over time? If you’re wondering how much your house is worth or other house values on your street, this guide is for you. We’re taking a look at some of the best property websites that have house value calculators. This will help you gauge how much your house could be worth.
How accurate are house value calculators?
House value calculators can tell you how much your house could be worth, but it’s important to be clear they aren’t conclusive.
Each calculator looks at house data in your local postcode and depending on who hosts it and the data used, the estimations will vary. For example, a portal might use asking prices as opposed to sold prices.
Can you use house value calculators by postcode?
House value calculators include most addresses in the UK and all values. Though some houses might not have accurate data for the calculator to provide an estimation. Generally speaking, you enter basic information about your home, such as the full address, the number of bedrooms, bathrooms, reception rooms, etcetera – and it returns results based on the details entered.
Does the Land Registry tell me how much my house is worth?
The Land Registry records sold prices, which can give you some indication regarding a home’s worth. However, it doesn’t update records with current values, and sometimes it takes up to three months for the latest sold prices to show. If, for example, you searched for a house that sold 10 years ago, the information you access is a decade old. Therefore, this data won’t be as accurate with up-to-date house values.
Top 5 house value calculators
Many homeowners use Zoopla’s home values calculator to get an estimate of their house’s value. You start by entering the postcode and property address, and it returns data on sold prices and the home’s current value. Zoopla offers an average value, low value (how much the home might achieve in slower market conditions) and a higher value (the maximum it expects the property to achieve). There’s also an explanation of how property prices are calculated. You’ll need to sign up for free to access more in-depth information about the property’s value.
2) Property Price Advice
With Property Price Advice, you can estimate your home’s value by answering a few basic questions and providing your email address. Property Price Advice forecasts values based on factors like changes in local sold prices, although it does have a tendency to overvalue properties.
With Mouseprice you can get an estimated value for your home. You simply need to enter the home’s postcode, property type and number of bedrooms to get an initial estimation. On top of the free, basic report, you can get an in-depth one against a cost.
As the UK’s largest home search website, Rightmove has plenty of data available. It doesn’t have a valuation calculator as such. You can, however, enter a postcode or street to see which properties have been sold. Consequently, you’re able to compare homes already on the market on your street.
5) Estate agents
A local area expert visiting your property and advising you how much they think your home is worth is still arguably the best way to get an accurate valuation of your home. You can also tap into their local expertise and knowledge of what houses have recently sold that are comparable to yours. You can book a valuation with any estate agent, online or on the high street.
The importance of local housing marketing trends
Anyone serious about selling their home should use the expertise of a local estate agent to get an accurate value of their home. There are many aspects to consider when determining the value, such as local housing forecasts and trends in the market. For example, the national market may be in rude health, but local area dynamics could point to a slightly slower market. Or vice-versa.
These are the insights you can only get from professionals with experience and in-depth knowledge of the local housing market. A house value calculator provides an estimation, which can be handy. But it doesn’t take the entire picture into account and factor in specifics to your local market.
How much is my house worth?
There are plenty of websites out there to give you an estimation of how much your home is worth. But if you’re planning on selling, it’s good to enlist the help of professionals while also understanding local market trends with tools like Move iQ’s property report. It provides up-to-date information on a home and its local property market, so you can get an accurate reflection of the local dynamics that affect the value of your home.
Last Updated: May 11th, 2022