The Valuation Estimate that is provided in the Property Report under My Valuer/My Research is provided by Pricefinder and is calculated based on the following criteria:
- Most recent sale date/price for the property (Pricefinder define recent as within the last 2-3 years).
- Analysis of sales from local neighbourhood.
- Similarity (type of property, no. of bedrooms, land size etc.) of neighbouring property sales to the target property (within 1km radius).
- Only Sold properties contribute to the estimate, no listing data is used.
The confidence score indicates how likely the valuation estimate generated is accurate based on the availaiblity of comparable sales data.
Desktop valuation estimates should be used a guide/estimate only and further research should be conducted. Please note the the below list of items are examples of other variables that are not factored in to the price estimate:
- Age of property.
- Quaility of fixtures and finishes.
- Pre or post renovated.
- Location within the suburb (i.e. waterfront).
- Proximity to infrastructure and amenities (i.e. next to a cemetery or powerlines).
- Prone to flooding.
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