Online property portal Zoopla is trialling a new Property Valuation Report or PVR feature.
The Property Valuation Reports are reportedly designed to give vendors a better insight into their local market. They will provide information such as pricing trends, average time to obtain a sale, information on search trends and other local market information.
PVRs will be trialled in Bath, Brighton, Cardiff, Chester, Exeter, Nottingham, Tunbridge Wells and parts of London with a view to introducing them on a wider basis.
The reports are compiled by ZPG’s automated analytical tool Hometrack and can also be purchased by non-Zoopla customers.
Most of this information is of the type already readily available to surveyors, valuers and mortgage lenders but is not normally available publicly.
Charlie Bryant, Managing Director of Zoopla, says: “Zoopla is at the forefront of innovation in the world of property portals, investing for agents and helping consumers to discover the right property for them.
“Our latest Property Valuation Report is another example of that and delivers exclusive insights in a consumer-friendly format.
“Our hope is that it will enable agents to demonstrate their local expertise with accurate, reliable and independent data and is one of many new agent focused innovations which we have currently in development.”
It is debatable how interesting or useful the average vendor-in-the-street will find this data when, at the end of the day, they just want to sell their house. Most likely the PVRs are being introduced so that vendors will feel they are getting the same local market insight as from their local high street agent, and to add value to Zoopla’s proposition.