Residential Property Valuation

In Australia, residential property valuation services are crucial for anyone who owns, is considering buying, or is selling residential property.

A residential property valuation is a tried and tested method of determining the market value of a property. The report will cover the details of how much the property is worth in today’s market based on several internal and external factors.

Only Certified Practising Valuers (CPVs) who are registered with the Australian Property Institute (API) has the authority and qualifications to prepare independent residential valuation reports. A residential, or house valuer, is an experienced and educated professional who understands the ins and outs of what makes a home valuable. As localised experts, they know exactly which variables impact the market value.

In Australia, a few of the main residential property types include:

• House

• Apartments or units

• Flats

• Villas

• Townhouses

• Granny flats

• Terrace homes

There are plenty of reasons to get an independent valuation report. In all sorts of circumstances, residential valuation reports can be hugely beneficial for property owners, sellers, and buyers. A few of the main reasons people request residential valuations are:

• PRE-PURCHASE/PRE-SALE GUIDANCE：A valuation that outlines the existing market value of a property can help individuals decide whether it’s the right time to buy or sell.

• INSURANCE：A valuation is key to ensuring you purchase an insurance package that provides you with enough coverage in the case of loss or damage.

• SETTLEMENT OR LEGAL DISPUTE：If in the midst of a settlement or legal dispute regarding a property, a valuation report can help lead to a swifter process. With a report, parties do not need to waste time debating the market value of the property.

For precise figures, valuers consider several different internal and external factors when preparing house valuation reports. A few of the main variables that form part of the process include:

• Location of the property

• Proximity to school zones, hospitals, public transport, restaurants, and entertainment

• Age and condition of the building

• Street appeal

• Number of rooms on the property

• Size and space

• Existing market conditions.

By going through every relevant consideration, house valuers can prepare accurate and detailed residential valuation reports.