Online house valuation tools are digital platforms that provide an estimated value of a property based on a variety of factors such as the size of your home, local sold prices and current market trends, by utilising millions of pieces of house price data available at the click of a mouse.

These tools are user-friendly and can provide a very quick ballpark figure of a property’s worth, which is particularly useful for anyone considering selling their home or looking to buy a new one. Whilst not a complete substitute for a professional in-person valuation, online valuations offer an extremely convenient starting point in the property pricing journey.

The information you need to supply

To get an online valuation, users need to provide certain information about the property in question. This typically includes:

  • Location – The postcode or address of the property.
  • Property type – Whether it’s a flat, terraced house, semi-detached, or detached house for instance.
  • Number of bedrooms.
  • Number of bathrooms.
  • Size – The overall size of the property in square feet or metres.
  • Additional details – Some online valuation tools may ask for additional details such as the age of the property, parking facilities, or any recent renovations to provide a more accurate estimate.

The data behind the estimate.

Online valuation tools harness a vast array of data to generate an estimated property value. Here’s a look at the kind of data they utilise.

  • Historical sales data: Past sales data of similar properties in the area is a strong indicator of current market values.
  • Local market trends: The general trend of property prices rising or falling in the area.
  • Online listings: Current listings and asking prices for similar properties on the market.
  • Land Registry data: Official data on previous sales, which is a solid source of pricing information.
  • Local area data: Information about the local area, including school ratings, crime rates, and proximity to amenities can also impact property values.

The Fine Print

While online house valuation tools provide a convenient way to gauge a property’s market value, it's important to remember they offer a broad estimate. They may not account for the current condition of the property, any renovations made or unique features that could affect its value.

For the most accurate and detailed valuation, consulting with a professional estate agent is also recommended. For properties which may be particularly tricky to value, due to age or condition for instance, you may also wish to speak to a surveyor.