Glossary
Comparables: Comps
Recent nearby sales or lets of similar properties, used to judge value or rent.
What it means
Comparables are the evidence behind a valuation: recent sales of similar properties, close by, adjusted for differences in size, condition and features. Surveyors and lenders rely on them, and so should you. The best comps are recent, on the same street or estate, and the same type and size. Asking prices are not comparables; sold prices are.
Worked example
ExampleThree sold three-bed terraces within half a mile in the last year.
- Sales
- £129,000, £132,500 and £136,000
- Average
- £132,500
- Asking price
- £125,000, about 6% below the comps
Supports the asking price, provided condition is similar.
Information, not advice. Example figures are fictional and for illustration only.