Wednesday, 31 December 2008
Zoopla aims to be the definitive data resource for the real estate market in the UK. Covering all 27m homes, Zoopla's data sources include owners and agents who upload data enhancing the value of the database as a whole.
The Zoopla site is a searchable directory of UK residential properties, created as a mashup of Royal Mail's database, the UK HM Land Registry's data on property transactions, Google maps, Microsoft Birds eye view, and other data sources. The data is then presented in a read-write format, so that user generated content can "fill in the gaps".
Zoopla has started by providing free value estimates and sold prices on homes, allowing sellers and agents to list homes for sale and letting all users edit information and upload photos.
Zoopla's value estimates are calculated using a proprietary algorithm that been developed by analysing millions of data points relating to property sales and home characteristics throughout the UK. The algorithm works by comparing relationships between home prices, economic trends and property characteristics in given geographic areas.