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Melbourne Current Market Value Experts

It is incredibly useful to know your property’s current market value in Melbourne before you put it on the market. It’s common to have different ideas of your property’s worth from different sources. Hiring a current market value expert will give you a clear understanding of your property’s true worth.

A current market value report, made by a residential property valuer, will be heavily detailed and makes a great negotiation tool. It also helps to manage expectations for how much an informed buyer would pay for your property. There are many reasons to have a current fair market report of your property, and our valuers tailor each report to suit your needs.

To calculate the current market value of a property, a valuer will thoroughly examine your property both internally and externally then complete an analysis of the local market. This includes an examination of the property’s comparable properties. A comparable property must be currently in the market or have been recently sold within the last 6 months. Comparable properties will have as much in common with the subject property as possible. These commonalities include:

• Location: Ideally the comparable property will be within the same suburb or within 1 km. It will be of equal distance to local amenities, such as shops and transport. The comparable must also be on a street with similar characteristics.
• Size: Comparables must be of equal size to the subject property. This will include the number of rooms, car spaces, stories, and bathrooms. The land usage should also be the same. Property should also be only compared to properties of the same type, i.e., an apartment above a retail store shouldn’t be compared to a stand-alone single-story house.
• Age and condition: Properties of a different age will have different considerations and issues. They may also be in a different condition to one another. A newly renovated home should be compared to one that has had similar work, and property in poor condition shouldn’t be compared to one that is brand new.

It is almost impossible to find a comparable that is the same as yours in every way. A valuer will then include in their report whether a comparable property is superior or inferior. A superior property may have an extra room or feature that improves its value over yours and an inferior comparable is the opposite.

Industry standards state a valuer must look into 3 comparable properties, Vals VIC will use about 10 and include details of 5-7 properties in the report. This ensures that our current fair market value is accurate.

Current Market Value Services in Melbourne

Vals VIC only hires the most experienced and qualified valuers in all of Melbourne and throughout Victoria. Each of our valuers has been Certified Practising Valuers (CPV) for over 20 years and in that time, they have become industry experts. Our valuers’ expertise covers more than residential properties. They can find the current property value of all property types including, commercial/industrial and rural.

Our valuations team is regulated by both the Australian Property Institute (API) and the Royal Institution of Chartered Surveyors (RICS)—with many also holding AVI qualifications. This dual accreditation ensures that our valuations consistently meet the highest industry standards, providing you with reliable, accurate, and fully compliant property assessments.

If you would like to know more or would like to find out the current market value of your property, contact us today Get in touch with our friendly staff via our enquiry form or call us on (03) 9020 1494.