Comparables
Comparables are recent sales of similar homes nearby, used to judge what a property is likely to sell for or is worth.
Comparables, often shortened to comps, are recent sales of homes similar to the one you are interested in, in the same area. They are the main evidence used to judge a property's price.
Estate agents use them for a market appraisal, surveyors use them for a mortgage valuation, and buyers and sellers can use them to sense-check an asking price.
What makes a good comparable
The closer the match, the better. A good comparable is the same property type, of a similar size and age, on the same street or a very similar one nearby, and sold recently.
Tenure matters too. A leasehold flat is best compared with other leasehold flats, and a new-build home with other new builds, since new homes often sell at different prices from older ones nearby.
Sales within the last 12 months are a good target. In a quiet street you may need to go back further or look at nearby streets, and allow for how prices have moved since.
Where to find them
Sold prices come from Price Paid Data, which records the price, date, address, property type, tenure and whether the home was new. It does not record bedrooms, floor area or condition, so those have to be checked another way, for example from old listings or the energy certificate.
Use sold prices rather than asking prices. An asking price is what a seller hopes for. A sold price is what a buyer paid. Our guide to asking price vs sold price explains why the two differ.
Using several, not one
One sale can mislead. The buyer may have paid over the odds, or the home may have needed work. Several comparables give a range, and the middle of that range is a steadier guide than any single sale.
As an example, if four similar semi-detached houses nearby sold for £310,000, £318,000, £325,000 and £340,000 in the past year, a range of roughly £310,000 to £340,000 is a fair starting point for a similar home. The figures are only for illustration.
Our guide on estimating your home's value from sold prices walks through the method step by step.
Allowing for differences
No two homes are identical. Adjust up or down for clear differences such as an extra bedroom, a garage, a larger garden or a home in poor condition. Keep the adjustments modest and give more weight to the closest matches.
| Also called | Comps |
| Best source | Recent sold prices |
| Good time window | Last 12 months |
| Match on | Type, size, tenure, location, age |
Related terms
Market appraisal · Mortgage valuation · Asking price · Price Paid Data · Property type · Median price