Is it worth getting an independent property valuation? So how are these estimates useful, and what information can you glean from them to help you? Valuation comparison for a two-bedroom terrace in Sydney For a buyer looking at all these sources, there's a $560,000 variation between the bottom price range and the top, and a $355,000 difference in the actual price estimates – leaving you arguably none the wiser. There was wide variation in the estimates, both across sources and within sources. To get a sense of just how much variation there is, we looked at what a range of sources had to say about a two-bedroom terrace going to auction in Sydney's inner west in April 2017. Price estimates vary greatly depending on which source you ask. Desktop price estimates and automated valuation models.Is it worth getting an independent property valuation?.But how reliable are these sources, and how much do they differ in their estimates? Luckily, there are a bunch of resources out there to help – some are free, while others will cost you.
But an accurate assessment of the value is critical if you don't want to pay too much when you're buying, or miss the mark on your home's value when selling. Find out more about fact-checking at CHOICE.įiguring out what a property's worth is a tricky task, and when the market's hot, prices can change quickly. Checked for accuracy by our qualified fact-checkers and verifiers.
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