House Value Calculator By Postcode UK

Is it a good idea to use a house price calculator?

When it comes to selling, the first thing you may wonder is how much is my house worth and after searching the internet, you may have come across something called a house value calculator by postcode, leaving you with more questions than answers.

But don't worry! We’ve written a complete guide on what a house value calculator by postcode is, including what they do, where you can find one and how accurate they are and so much more:

Table of Contents

• What is a house price estimate?

• What does a house value calculator by postcode do?

• Where can I find a house value calculator by postcode?

• Is a ‘house value calculator by postcode’ accurate?

• So, why use a house price calculator?

• How to get an accurate valuation

• How can we help?

• Why choose us?

• FAQs

What is a house price estimate?

A house price estimate is something you can acquire typically through an estate agent, and it essentially is t get a rough gauge of what your property is worth. This estimation will take into account your property’s location, condition, how many similar properties are in the area and many other factors.

With this type of house price estimate, you will find that each estate agent you go to will likely give you a slightly different value. This happens for a few reasons:

• Property isn't simple, and the opinion of value will vary person to person, even with professionals.

• Most of them are trying to win your business, they want you to list the property with them. You're more likely to list if the price they say that they can sell it is more appealing - be careful of these estate agent tricks!

• They may also use different online tools, which will all provide different values.

This is exactly the reason we call it an estimate, whilst they will be taking some factors into account when coming up with a price, there are a lot of factors that can cause it to vary.

What you may have seen more online is that you can often acquire a house valuation by simply typing in your postcode into an online tool. Some of these tools are better than others, and some will also ask you additional questions on aspects of your property and internal condition to provide an estimate, but how accurate are these? Are they better than an estate agent? Let's find out.

What does a house value calculator by postcode do?

A house value calculator by postcode does exactly what it sounds to do – gives you a value for your property using your postcode as the first way of finding out information about your property.

You will also have to enter the house number or name of your house to help the calculator give you a more accurate valuation.

In order for a house price calculator to give you a value for your property there are multiple different factors it will take into account, alongside your postcode:

Details about your property

• A house value calculator by postcode will take into account details of your property in order to give you a valuation. The information you will need to give will include the number of bedrooms of the property, the house number and street name, the house type (whether it’s detached, semi-detached, flats, etc) and the condition of the property.
  You may also be asked whether or not you have a garden, how old the property is and what the parking situation is like for the property – whether it has a drive, street parking or no parking at all.

Sold house prices

• Another thing a house value calculator by postcode will take into account is the recent sold house prices in your nearby area. Recent sold prices are something that is public information on certain websites and will help the calculator to get a rough idea of the price range of your area to help decide where your property fits in that range.

Market conditions

• The housing market conditions are another thing that a house price calculator will take into account. The property market will have peaks and troughs, and this all plays a role in what your property is worth in the current market.
  If it’s a time when the market is hot and there are lots of buyers out there, making it a seller’s market, then your property is going to be worth more.

Neighbourhood

• Your neighbourhood is another aspect that will have an impact on how much a house price calculator feels your property is worth. It will look at things like crime rate, broadband speed, flood risk and pollution levels.
  If your house is undesirable in any of those areas, for example, has a high flood risk, then this will have an impact on your property value and will make it worth less.

Nearby amenities

• The final thing that will be taken into account by the house value calculator when deciding on the estimated value for your property is the local amenities. For example, if you’re close to schools, supermarkets or doctors, this will have a positive impact on the price of your property, meaning the estimation of your property will be higher.

Where can I find a house value calculator by postcode?

If you’re wanting to find a house value calculator by postcode, there are plenty of property websites that offer this. Two of the most common ones are on Zoopla and Nationwide.

Zoopla is probably the most popular out of all the websites, with it being easy to navigate and providing you with a rough estimate for your property almost instantly. It will also provide you with a high and low value on either side of the main estimation so you can get a range.

A downside of this tool is Zoopla makes you create an account to be able to reveal the estimation and the figures provided aren’t completely accurate. If you click on ‘how are our estimates calculated’, it states that the figure doesn’t take into account any renovations, makeovers, recent extensions and extra rooms.

Nationwide is another popular house value calculator by postcode that will provide you with an estimation as to what your property is worth. Nationwide asks you to put in the last valuation you had on your property, which can be a downside if you haven’t ever had a valuation, or you can’t remember what it was.

Another downside of Nationwide’s house price calculator is that it doesn’t take into account the quality of fittings or the decoration. They recommend if you want an accurate valuation of your property, you should speak to an estate agent or a surveyor.

Other websites that have free online valuation tools are Rightmove, HM Land Registry, Net house prices and Property Price Advice. This isn’t an extensive list and so it’s important you look around a bit before deciding on which is the best one to use.

Is a ‘house value calculator by postcode’ accurate?

So, whilst a house value calculator by postcode is a quick and convenient way to get an estimation for the price of your property, are they actually giving you an accurate figure?

Sadly, due to the nature of the valuation being a blind estimate worked out with a specific algorithm, the valuations given aren’t actually that accurate.

As the valuation is given to you without even seeing your property, it doesn’t take into account the quality of the interior, how spacious the property is inside and what the potential is for it to be extended or modified.

A lot of the house value calculators now act as lead generation for estate agents. For example, Zoopla will give their rough valuation and then will recommend that you get an official one from an estate agent and will give you the details of a few.

This means the house price calculator is more focused on acting as a front to get your details to pass onto estate agents rather than being focused on ensuring their estimations are accurate, which is why we would recommend looking for other alternatives when looking for a house valuation.

Example of Online House Valuations

To provide some context as an example, we took a random house that is currently listed on Rightmove - Austhrope Lane, West Yorkshire.

It's a 3-bedroom semi-detached house in the Cross Gates area. It looks to be pretty recently renovated and is priced currently at the time of writing at £300,000, listed with Stoneacre Properties, who have presumably come to that valuation.

Let's put this listing through the most popular online tools, and see what valuation it comes to!

As you can see, there's a £36,000 swing in valuations, or 12% of what it is currently on the market for.

That's quite the margin!

So, why use a house price calculator?

After reading how inaccurate these house value calculators can be, you may be wondering what the point of using one actually is.

Well, whilst they do have the downside of being inaccurate and have to be taken with a pinch of salt, they are a quick and easy way to help you get a rough estimation as to what your property is worth.

This then gives you something to build on when you get a proper house valuation, so you can be sure you’re not getting too low or too high a figure.

Some people may also use a house value calculator simply because they want to have a little nosey as to what their house is worth in the current market conditions.

How to get an accurate valuation

Getting an accurate house price can be challenging. To really get a picture of how much your house is worth, here's what we would recommend:

1. Use online calculators - As mentioned, this is a great starting point to paint a rough picture of the value of your home. Start by comparing a few of the online tools.

2. Contact estate agents - Contact a few local estate agents in your area and get them to come round to the property and assess it. DO NOT tell them how much you want to sell it for, let them come to their own conclusion.

3. RICs Survey - Now, we know this isn't ideal for everyone as it will cost a considerable amount to get a survey on your property, but it does provide you with the most accurate valuation, so it's worth mentioning. RICs accredited surveyors are completely independent, and in the list are the only ones who don't have an invested interest in valuing your property.

How can we help?

If you’re thinking of selling your home, before you start to go down any of the traditional routes, it could be worth your while getting in contact with us. We can offer you a fast sale whilst covering all your legal fees.

We offer more than just a house price estimation, with no further help on how to get this price – we will offer you a price that we will pay to buy your property in cash, with all fees included, meaning you will get the amount in full, without having to pay a penny.

To calculate our estimated house price for your property we will combine data from local sold properties (via HM Land Registry), analyse local market trends on a postcode level to find comparable properties, and most importantly use our experience and what you tell us about the condition of the property to come to a much more accurate figure than online house valuations.

Our agents are experienced in working with a variety of customers who need a quick sale for many different reasons. We will appoint you a specific agent who will be your main point of contact throughout the whole process, helping you to feel reassured or supported.

We’re unable to give you the market value for your property, but we will give you a fair price and all fees are included, so there’s no need to worry about hidden costs or having to pay large amounts to sell.

Why choose us?

We’re more than just a house price calculator or a standard cash house buyer. The Property Buying Company is owned and operated by property professionals, founded in 2012, and with over 50 years of combined experience, you can be sure you’re in safe hands.

We never spam or sell your information, we purely use what you provide us to prepare a property valuation and offer a tailored quote, which is further outlined in our privacy policy.

As we’ve mentioned, we’re also a member of The Property Ombudsman and the National Association of Property Buyers, further emphasising why we’re the people you can rely on.

On top of this, we understand what it’s like to sell a property and all the stresses that can come along with it, so we will always be up for a chat to listen to your worries, and we handle the whole process for you.

We’re also rated excellent on Trustpilot, with over 2,500 reviews.

We will always be open and honest about our service and process, with us telling you upfront what we’re able to offer you for your property. We will keep you constantly updated, including any issues we face and how we will do our best to overcome them for you.

We do more than just giving you a house price estimation; we will give you a cash price that we can buy your house for in full, covering all the fees, including the legal ones, and also completing in a timescale of your choice! It’s never been easier to find out your house value and sell fast!

FAQs