How much is your house worth?

Couple decorating their new home and checking off a 'to-do' list

Who is this page for?

This page is for anyone who’s curious about how much their house might be worth, how to get a valuation and why a valuation can be helpful when you’re thinking of moving.  

How much is your house worth?

The value of your house can vary depending on lots of factors – from the age of your property to changes in your local area.

Whether you’re looking to sell, remortgage or explore home insurance, understanding what your property is worth can help you know what your options are when you come to move house.

Our guide explains how you can get a better idea of the true value of your property, why it’s useful to know and how to get the best value for your home. 

How can you find out how much your house is worth?

We all think we know how much our home is worth – but the reality is the property market changes so fast that the actual value can come as a bit of a surprise. To get a better idea of how much your house is worth, you can:

  • Use an estate agent – It’s an estate agent’s job to know property value, so they’ll be able to give you a fairly accurate idea of how much your house is worth.
  • Look up properties recently sold – You can check online to get an idea of the price that houses sold for in your postcode area, but this figure will be less accurate than a professional valuation.

Remember to look at local house prices rather than national averages when you’re researching, as these will be different depending on where you live.

If you’re getting a valuation because you’re thinking of remortgaging, remember that mortgage providers often also perform an independent valuation too. 

What to do before a house valuation

If you decide to get a valuation from an estate agent, you’ll want to make sure they’re seeing your home at its best. Make sure you get the best valuation you can by:

  • Tidying and de-cluttering – A tidy house lets you showcase the space at its best.
  • Gardening and upkeep – Prune, mow and clean up your garden, make sure windows are clean and brighten up any external woodwork with a fresh lick of paint.
  • Renovations – Make a list of any new additions or repairs you’ve made to the property. You may have fitted a new bathroom or kitchen, for example.
  • Fixing cosmetic issues – Fixing small things like worn carpet or chipped paint can make your home look more polished and attractive to buyers

You may want to get more than one estate agent to value the property, so you can get an average value. 

What to expect from a house valuation

When you get a house valuation, an estate agent will spend their time taking measurements of rooms and asking you some questions about the property. Be prepared with the right answers.

Questions an estate agent might ask during a property valuation

  • How old is the property?
  • How long have you lived there?
  • Why are you moving?
  • What changes have you made?
  • How old is the boiler?
  • When were the electrics and gas last checked?

How long does an estate agent valuation take?

The estate agent usually spends around an hour or so in your home – but it depends on the size of your property. If you’ve got outbuildings, acres of land and attic space to explore, it might take longer.

When they’ve got all the information they need, they should be able to give you a rough valuation there and then. Though some will wait and send a report with a figure or price range in one or two days.

What factors affect house price

Anyone who watches a property show knows there’s dozens of factors that can impact the value of your house – from the condition of the building itself to the surrounding area. Some things can help boost your property’s value, while others might lower it. 

What brings down the value of a house?

Factors that can bring down the value of a house include: 

  • Age of the property
  • Poor condition
  • Outdated decor
  • Damp or mould
  • Short leaseholds
  • Surplus of certain property types in your area
  • Closing of local amenities like doctors or shops
  • Poor transport links
  • Poor local school ratings 

What factors increase house prices?

Factors that can increase the value of your house include:

  • Extensions, conservatories, garages and outbuildings
  • Improvements to the local area
  • Investments in amenities and the local economy
  • Positive school ratings
  • Appearance in best place to live studies
  • Positive media coverage
  • Updated and good quality kitchen and bathroom suites

House values by postcode

The area you live in will also impact the value of your property – right down to your postcode. The reputation of a postcode alone can impact how much your house is worth. Similar homes on different sides of postcode borders can have different values.

Outside the desirability of certain postcodes, it’s also partly due to postcodes being linked to average earnings, credit scores and other factors like shopping habits of people in that area.

Postcodes also determine your choice of GPs and school catchment areas – both of which can affect the value of your home. 

The content on this page is for reference and does not constitute finance advice.

For impartial financial advice, we recommend government bodies like the MoneyHelper.

Calculators & tools

We have a range of mortgage calculators to help you:

  • Find out how much you could borrow from Lloyds Bank
  • See how much you could save if you make overpayments on your mortgage
  • Get an idea how a change to the Bank of England Base Rate could effect your monthly payments

Use our mortgage calculator and tools >

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