Property investors and developers know that finding comparable properties is a crucial part of the process of valuing a property.
Thankfully, it's easier than even before to quickly identify comparables than with PropertyData's powerful Quick Comparables tool.
Start by entering the postcode and type of the property you want to find comparables for. You can then customise the radius and sale date that you want to capture data from.
Keep an eye on the results indicator at the bottom, which will update to tell you how many comparables match your specifications.
Aim to find at least 20 – to make the averages reliable – but not more than 100 – because then the amount of data becomes difficult to deal with.
The final two boxes allow you to narrow down the internal area of the comparables you find.
Because £/sqft comparables are best for properties of a roughly similar size, we recommend picking a range around the size of the reference property. For example, for a 1,500sqft property, you might choose a range of 1,000 - 2,000sqft for the comparables.
Once you click show 'Show comparables' you'll be presented with the results:
At the top you'll see a reminder of your inputs, and the option to edit or download as a PDF.
On the table itself, you'll see completed transactions meeting your criteria. As well as the full address (and distance) you'll see the date, price, and £/sqft. You can click 'View' to see all the data we have on the transaction.
Be sure to scroll down to the bottom of the table to see the important averages for price and £/sqft:
Now you can add human intelligence to the system's output. You can refine the comparables by removing individual rows that you consider not true comparables (e.g. they are ex-council properties, while your reference property is not).
Click 'Remove' and the row will grey out, and the averages at the bottom will be updated to ignore the removed rows.