An Estimated Value is the approximate calculation of a property's value based on local market data that's available at the time, it is not a prediction of the future market performance.
Estimated Values are calculated for each individual property nationwide with associated ‘confidence levels’ based on how much data is available.
The data used to calculate these estimates are based on publicly available information from councils, real estate agents and other third party sources.
In order to improve the accuracy of the Estimated Value, we encourage the correction of the data we hold in order to give you a better indication of what a property might be worth.
It's important to note that an Estimated Value isn't a professional valuation, it's meant to be a general guideline for property related conversations.
You should not rely solely on an Estimated Value when making decisions about buying or selling property, we encourage you to use your own skill and judgment. Seek professional advice where appropriate and conduct other research such as:
- Getting a professional valuation from a registered or certified practising valuer
- Getting a comparative market analysis from a trusted, local real estate agent, builder or other industry professional
- Physically visiting the property