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The problem with web valuations

Posted: 5th July 2021

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Stephen Woodward says: "It's a bit like sending just your height and weight to an online clothing retailer, and expecting the perfect fit jeans to arrive in the post."

Martin Bloxham, a property valuer of 30 years explains 

"The advent of the “Instant Property Valuation”, now on offer from a variety of property websites, does warrant some investigation.  The idea is that at the click of a  button you can receive an accurate valuation of your home and make plans based on this, which certainly sounds appealing.   But few people realise these apps are just simple computer models which harvest postcode and sale price data, and as a result the figures given are often misleading.

Driven by on-line companies competing for traffic and trying to drive their revenues up, these apps have little to do with providing information you can rely on and everything to do with capturing your data and selling advertisers’ products and services.   Every property, every location and every sector of the market is different, so if knowing the true value of your property is important it is best not to rely on an algorithm.  Only a property professional visiting your home can take everything it offers in to account and provide the accurate information you require.

Given the ready availability of an experienced High Street agent like ourselves, asking our opinion remains the only way to tap in to expert market knowledge.  Open, honest advice is available quickly and free of charge, so why not ask a professional?  You will learn far more about your property’s place in the market and a lot more besides, as we are happy to advise on all aspects of your move without obligation.  It is always good to talk!"

For your expert valuation advice for Harrow on the Hill and Harrow, contact us from our website valuation request link, or phone 020 8864 8844.