Reviewed and updated: 17 October 2026. Original archive publication date retained.
The answer to what a house is worth depends on the purpose of the figure and the evidence available at the relevant date. A marketing appraisal, an automated estimate and a professional valuation are not interchangeable.
Identify the question
An estate agent’s suggested asking price helps position a home for sale. A lender’s mortgage valuation addresses the lender’s security requirements. A condition survey examines the building within an agreed scope; it is not automatically a valuation.
RICS explains that some home-survey services can include a market valuation, while others do not. Check the commissioned service rather than assuming every survey report contains a value.
Use comparable evidence carefully
Look at similar homes with comparable location, size, condition and tenure. The date of a transaction matters, as does whether the figure is an asking amount or a completed sale. A neighbouring house may still differ substantially from yours.
For an estimate produced online, ask what information it could not consider, such as an unusual layout, major defects or lease terms. Do not present an indicative figure as a formal valuation without the necessary process.
If a value is needed for a specific legal, lending or financial purpose, confirm that purpose with the appropriate professional. Keep the valuation date and assumptions visible. A figure is evidence-based judgement for its stated purpose, rather than a guaranteed future selling price.