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The phrase "a significant underestimate" is correct and usable in written English.
It can be used when discussing a situation where an estimation is notably lower than the actual value or outcome.
Example: "The report revealed that the initial budget was a significant underestimate of the project's true costs."
Alternatives: "a considerable underestimation" or "a major miscalculation".
Exact(53)
That was likely to be a significant underestimate he said.
While one child is too many, 56 seems to me to be a significant underestimate.
We believe that fear of failure and poor quality advice led to a significant underestimate of the demand for Royal Mail shares.
Indeed, this figure is a significant underestimate, because about two gigawatts of wind are connected directly to local networks and so not directly visible to National Grid.
In a world of meagre measurement and inadequate oversight, many argue the findings were a significant underestimate of the nationwide strain on the system.
If anything, that is likely to be a significant underestimate, given the lack of action taken to date to curb emissions.
Similar(7)
Furthermore, tinnitus was repeatedly shown to have a significant underestimated impact on the patient's postoperative course and quality of life [ 12– 14, 38].
Key criticism comes from the Scottish Environmental Protection Agency, which warns of a "potentially significant underestimate of green house gas emissions".
All these results indicate that lice are a significant and underestimated problem in untreated herds.
Similarly, a significant (but underestimated) burden of allergic rhinitis has been reported previously in a large-scale survey in the USA 24 and amongst children with asthma from Turkey 25.
In fact, researchers have found that a female's scent, or her pheromones, can have a significant and underestimated role in attracting a lover.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com