One might think that combining a "last sold price" figure with the Land Registry House Price Index would yield a formula for a reliable estimate. While this approach often works well, there are exceptions, leading property platforms to occasionally offer inaccurate predictions.

It's important to revisit the fundamental question: What is valuation? According to a simple definition by RICS, the market value of a property is the amount agreed upon by a willing buyer and seller in an arms-length transaction, where both parties are knowledgeable and act without compulsion. However, this definition overlooks scenarios where buyers may pay above market value due to specific preferences or sellers may undersell out of desperation, resulting in transactions that do not reflect true value. When property platforms base predictions on such "rogue" transactions, inaccuracies arise. Additionally, properties that undergo redevelopment or extensions after being sold cannot be accurately valued using standard computerized formulas, a limitation often overlooked by platforms like Rightmove or Zoopla.

Other platforms, such as Searchland or Landinsight, which rely on similar methodologies (and data from Rightmove), also exhibit inaccuracies when predicting property or house prices. So, what's the solution? to better house price predictions ? landcycle.com

Landcycle is a property and planning platform offering a transparent and innovative alternative. Employing a complex array of datasets and algorithms, landcycle.com strives to make valuation estimates. Crucially, they refrain from providing estimates if they cannot gather sufficient data points for accuracy. By blending diverse datasets, landcycle.com effectively eliminates outliers in the data, providing more balanced predictions that account for overvalued and undervalued "rogue" transactions.

While no property tool can claim infallibility, they can offer valuable insights into prevailing values and property price trends in specific areas. The best part? landcycle.com is a license-free property platform, allowing users to explore its features without any financial commitment.