70% of homeowners don't know the value of their home

Almost half (45%) of UK homeowners undervalue their home, according to new research by Zoopla. On average homes are undervalued by just over £46,000. In comparison, 1 in 4 homeowners believe their property is worth more, one in 10 of these predicting it was worth over £100k more. With just 3 in 10 people having an accurate idea of their home's value, it is no surprise 78% of sellers state ‘Good Market Knowledge’ is a top priority when choosing an agent (Dataloft, Property Academy, 2020). Collectively, Zoopla’s research suggests the average UK home is worth over £9k more than its owner realises, the figure in London more than double the national average (£22,846).