There are many ways that a property can be priced, but the only way to do it correctly is to look for 'comparables' ie. similar properties in close proximity (0.5 to 3 miles) that have recently sold in the last 3 months. 

However it's not enough to match the property, you also have to try and match the facilities eg. one or two bathrooms; garage etc and the equivalent condition of the property too.

All this is very difficult to do without visiting every property - most of which are unlikely to still be on the market so you can't even view them.

However there are various ways of doing this:-

1. Use property price estimating sites 
These are usually free, but be warned some are much better than others! We have linked to and rated them below:-

Zoopla4/5 This site seems to be uncanningly accurate!
Nationwide3/5 This is OK but the price changes are based on regional, not local data
Halifax3/5 As above
Property Price Advice1/5 This site is fun to play with but we found it to massively overvalue properties

2. Research the property market yourself by finding comparables, using statistics from the above sites and talking to local agents. 
Why not buy our factsheet giving you a mini guide to Valuing Property for just £1! 
Why not buy our 22 page DIY Property Valuation for just £4.99!

3. Download a report from Hometrack which gives you all the local comparables, estimates the value of a property and indicates the level of confidence in the price it's estimated.

4. Use the Designs on Property Premium Valuation Service for just £99 which follows the SIX stages of valuing a property from the ebook.

5. Ask a surveyor for a valuation which without checking the property's structure would cost around £200.

Don't forget though that a property doesn't have just one price, it can have up to SIX prices! These prices can also vary from month to month depending on how many similar properties are on the market and how many buyers are looking. You are likely to get the higher valuation figures if there are fewer properties for sale than the numbers of buyers looking and if vice versa, nearer to the lower valuation figure.

To find out more about how we can support you during your property project visit our Introduction page in the Essentials section.

Consider signing up for membership:
Join now as a member for just £19.99 so we can give you unbiased and expert support throughout your project. Each member receives a FREE Which? Property Book, email/telephone support and discounts off great products and services! 

For more information about how membership can help support you throughout your property project, please email: or call us 0845 838 1763. We'd love to speak to you!

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