Oops! Zoopla gets wrong road on to its Property Rich List

A modest road where the average house costs £125,619 found its way into Zoopla’s list of millionaires’ rows after a computer glitch.

Crawshaws Road on a 1980s estate in Castle Bromwich made its way into the hall of fame when Zoopla included it in its Property Rich List, issued on Tuesday.

Zoopla named the road as the most sought-after address in the west midlands, with the average home worth almost £3.6m.

Local residents were stunned to learn that their homes – which are close to the thundering M6 and also under the flightpath for Birmingham airport – were worth almost 30 times what they had previously thought.

In reality, their homes on an estate with a mix of council and private houses, are worth well under the national average.

However, Zoopla said that an “uncommon” flaw in the algorithm it uses to arrive at house prices was to blame.

A spokesperson said: “Zoopla property values are created using multiple data sources.

“We have a rigorous system and process in place that continuously checks the data for any outliers such as the one you identified.

“This over-inflated estimate was in a queue to be manually checked.

“The estimate for the street is actually £125,619 and we have now updated this to reflect a more accurate average property value for that street.

“Consequently this street has not made it on to our Rich List.”

For residents, it must have been like winning the lottery and then finding you have lost the ticket.

Here’s how the Birmingham Mail reported the story, complete with pictorial evidence:

http://www.birminghammail.co.uk/news/computer-glitch-rates-castle-bromwich-7674471

x

Email the story to a friend!



One Comment

  1. Woodentop

    “The estimate for the street is actually £125,619 and we have now updated this to reflect a more accurate average property value for that street."

    Maybe they should try doing it to all their online valuations. I haven't come across one that it correct and do they cause some grief for valuers who have to bring the vendor back down to reality. The one things that I dislike about Z and RM is that they both try to rig the pricing in one shape or another. I was always under the impression (gave up years ago on that) that WE were their customers and they were providing a service to us, particularly as we are their source of income. It looks more like they are charging us to provide a service that they want to give, to the consumer ….. our customers with little regard to our views.

    Report
X

You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.