To get an accurate estimate of a property’s value, a qualified Valuer is usually required.

When applying for a loan, typically a Valuer working on behalf of your lender will visit the property and will take the following into consideration:

• Size of the property
• Number and types of rooms
• Fixtures and fittings
• Areas for improvement
• Location
• Building structure and condition
• Standard of presentation and fit out
• Ease of vehicle and garage access
• Planning, restrictions and local council zoning
• Recent sales in the area & other market conditions

The Valuer will then provide an estimate of the property’s value to the lender based on their assessment.

A Property valuation takes into account the value over the longer term as well as the current trends, as the property itself is used to secure the loan

The lender may not share the estimate with you but you can always choose to engage your own Valuer.

A market appraisal is typically done by a Real Estate Agent who looks at how much a property would sell for in the current market and also takes into account current trends.

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