How do you know what a property is really worth? The property portals above all show sold listings, which help in getting an idea of property values. But there are other free helpful resources available with AVM’s based on their own prediction models.
In most cases, each source provides a varying estimated value. To get a more accurate idea, try them all then average the results. This will give you a decent idea of how much a given property should sell for.
The challenge with most free sources is, once a property is listed for sale, they won’t show an estimated value. That’s where professional paid tools come in.
Please note, these sources do not replace formal bank valuations and are a guide only.
Property.com.au
This relatively new platform owned by REA Group provides a wealth of information displayed in a user-friendly format. Simply search for an address and you’ll see: value and rental estimates, sales and leasing history, school catchment zones, hazard overlays (bushfire, flooding and heritage), property boundaries and available NBN and mobile broadband types. There’s also pricing trends and comparable listings, well worth exploring.
On The House
Owned by leading industry data provider, CoreLogic, this free service provides estimated sale and rental values, property history and handy 10 year suburb pricing trends. A free account unlocks more data, enabling you to track suburbs and individual properties with monthly pricing updates. So it’s worth registering.
NSW Spatial – Land Value Search
This Government platform provides easy access to find the land value of any property in NSW. Simply search for an address, wait for it to pop up and click to select. To find the land value, you need to zoom in until “$” appears on each property, then select the $, not the block of land. Toggle the data in the popup until you see the “Valuer General” tab. Here you’ll find the land values over the last five years.
Also handy is the strata overlay. Any lot with a blue highlight is strata titled, whilst red means it’s a standard lot. There are a wealth of data layers available, so explore at your leisure.
SQM Research
A treasure trove of property market data. This site provides long term data across suburbs, cities and states covering listing numbers and pricing trends. Dive in, there’s a lot to see here.
Domain, realestate.com.au
Both listing portals will provide pricing estimates on off market properties and those sold more than three months ago. They won’t display estimates for properties listed for sale or rent.
Commbank Property Pricing
Another quick and useful guide, using data from Domain. CBA will apply its own modelling to the raw data, as results are different to what you’ll see on Domain. This tool is different from a formal Commonwealth Bank valuation and will provide different values. For clients applying for a home loan with CBA, we will order a formal valuation through the bank’s internal system.
PriceFinder (Paid Service)
A professional subscription product with extensive property sales history, reports, AVM’s and a unique sale price estimate tool. A direct competitor of RP Data, widely used by real estate agents and professional investors.
RP Data – CoreLogic (Paid Service)
Another professional subscription product with extensive property sales history, reports and AVM’s. A direct competitor of PriceFinder, widely used by real estate agents and professional investors. There is no free data available, instead see CoreLogic’s consumer site: On The House.
Feather Loans has access to RP Data and can provide a complementary professional property report, contact us to get your report today.