The Estimated Value is not a valuation or a professional appraisal, rather a mathematical calculation to provide a general guideline for property related conversations.
In order to improve the accuracy, we encourage the correction of the data we hold in order to give you a better indication of the approximate market value of a property. The mathematical algorithm considers a range of data points, including the following data points:
- Accurate full address;
- Property attributes such as bedroom, bathroom, garage, floor size, land size; and
- Historical and recent sales information.
However, it is worth noting that an update of data points may or may not affect the Estimated Value because of the sheer volume of data points considered.
The reliability or accuracy of the Estimated Value may be adversely affected by the following factors:
- Insufficient data
- If the property is particularly unusual compared to other properties previously sold in the area
- It is in a remote area where comparable sales are limited
- Has characteristics not commonly found (such as a high number of bedrooms bathrooms, a swimming pool, landscaped garden etc.) in surrounding properties
- Recent changes to the property such as renovation or subdivision.
Also, let us know if the property has been recently renovated or subdivided. All this information helps improve the accuracy of the Estimated Value.