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Property Valuation news

Welcome to VicServ!

Property Valuation news, tips and advice for Australian Property Owners

We understand how confusing and stressful it can be trying to determine the value of your property. That’s why we’re here to provide Victorian property owners like you with the latest news, helpful information, tips and expert advice to guide you through the property valuation process.
Getting an accurate property valuation is important for many reasons – you may be looking to sell your home, refinance your mortgage, settle an estate or simply want to understand your largest asset. Our goal is to make the valuation process as smooth and stress-free as possible.
At VicServ, you’ll find:

Up-to-date news and analysis about the Victorian property market to help you understand the factors impacting property prices in your area.

Information about the different valuation methods so you can choose the best type of valuation for your needs.

Tips from property valuation experts on how to prepare your home to achieve an optimal valuation.

Advice on finding the right valuer and questions to ask them so you get an accurate assessment.

Reviews and recommendations to help you choose a reputable local valuer.

Answers to frequently asked questions about property valuations.

Whether you’re just starting out or need more guidance, VicServ is here to help you through your property valuation journey. Our goal is to provide Victorian property owners with the knowledge, support and resources they need to make informed decisions about their most valuable asset – their property.
Contact us today to learn more about how we can assist you.

Valuation Advice

Guide to construction loan valuation with plans and estimates

Pre-Build Valuations: Key to Securing Construction Financing

Securing a construction loan is a critical step in turning the dream of a custom-built home into reality. Unlike traditional home loans, construction loans have unique valuation requirements that rely heavily on future plans and cost estimates. Understanding these requirements is essential for anyone looking to finance the construction of a pre-built home. This article will explore the intricacies of construction loan valuation, including the use of plans and cost estimates in pre-build home valuations.

Overview of Construction Loan Valuation

Construction loan valuation is a process that assesses the projected value of a property upon the completion of construction. Lenders require this valuation to determine the risk associated with the loan and to establish the borrowing limit for the project.

The Role of Plans and Cost Estimates

The valuation for a construction loan is largely based on the detailed plans and cost estimates provided by the borrower. These documents must accurately reflect the scope of the project, including:

  • Architectural designs
  • Specifications for materials and finishes
  • Contracts and quotes from builders and contractors
  • Permits and approvals

Key Components in Construction Loan Valuation

The valuation process for construction loans considers several key components to determine the future value of the property. These include:

  • Land Value: The current value of the land on which the property will be built.
  • Construction Costs: The total estimated costs to complete the construction, including materials, labor, and contingencies.
  • Final Property Value: An estimation of the property’s market value upon completion of the build, considering current market trends and the specifications of the proposed construction.

Understanding the Valuation Process

Lenders typically engage professional valuers to conduct construction loan valuations. These valuers use the provided plans and cost estimates, along with their knowledge of the local property market, to project the final value of the property. It’s crucial that all documentation is detailed and accurate to ensure a realistic valuation.

  • Review and double-check all plans and cost estimates for accuracy before submission.
  • Include detailed specifications for materials and finishes to assist in accurate valuation.
  • Ensure that your builder and contractors provide comprehensive quotes that cover all aspects of the construction.
  • Consider market trends and how they might affect the final valuation of your property.

Maximising Your Construction Loan Valuation

Achieving a favourable construction loan valuation is essential for securing the necessary funds for your project. Here are some strategies to maximise your valuation:

  • Comprehensive Planning: Detailed and well-conceived plans can significantly impact the valuer’s assessment of your project’s potential value.
  • Quality Materials and Design: Choosing high-quality materials and a design that appeals to the broader market can increase the projected value of the finished home.
  • Professional Guidance: Engaging with architects, builders, and financial advisors who have experience in construction projects can provide valuable insights and help avoid costly mistakes.

Understanding the valuation requirements for construction loans is pivotal for anyone looking to build a pre-built home. By providing detailed plans and cost estimates, engaging with professionals, and considering market trends, borrowers can navigate the construction loan process successfully. This thorough preparation not only assists in securing the loan but also ensures that the project is viable and valuable from the outset.

Analyzing real estate market with comparable sales for property investment decisions

Researching Comparable Sale Prices for Investment: A Guide to Finding and Weighing Comps

Understanding the Significance of Comparable Sales in Property Investment

Comparable sales, often referred to as ‘comps’, are a fundamental aspect of property valuations. They involve assessing the sale prices of properties similar to the one you’re considering for investment. This comparison approach helps establish a baseline for the value of your potential investment.

Why Comps Matter in Real Estate Investment

In the realm of real estate, understanding the market value of properties is crucial. Comps offer a tangible way to gauge this value. They serve as a benchmark against which investors can evaluate the potential return on investment (ROI) and make informed decisions.

Finding Relevant Comparable Sales Data

1. Utilising Online Real Estate Platforms

Many online real estate platforms provide access to comprehensive databases of sold properties. These platforms often allow you to filter results based on location, property type, size, and sale date.

2. Local Government Records and Real Estate Agencies

Local councils and government bodies maintain records of property sales. Real estate agencies can also offer insights into recent sales in your area of interest.

Effectively Weighing Comparable Sales

Analyzing Key Property Features

When weighing comps, it’s important to consider various features of the properties, such as:

  • Location
  • Property size and layout
  • Age and condition
  • Renovations or unique features

Adjusting for Market Trends

Real estate markets are dynamic. It’s vital to adjust your analysis based on current market trends and economic factors impacting property values.

Establishing Property Value Baselines Using Comps

Calculating Average Prices

One method is to calculate the average sale price of comparable properties. This gives you a general idea of what similar properties are selling for.

Identifying Outliers

Be mindful of outliers – properties that sold for significantly higher or lower prices than the average. Understanding why these outliers exist can provide deeper insights into the market.

  • Compare properties sold in the last 6-12 months for current market relevance.
  • Look for properties with similar features and in similar neighbourhoods.
  • Consider the impact of local amenities and infrastructure on property values.

Final Thoughts on Using Comparable Sales for Investment Analysis

Utilising comparable sales data is a powerful tool in property investment. It provides a solid foundation for understanding market values and making informed decisions. By effectively finding and weighing comps, investors can establish accurate property value baselines, enhancing their investment strategies in the dynamic real estate market.

Comprehensive guide on house valuation costs in Melbourne

Deciphering House Valuation Costs in Melbourne

Understanding the cost of a house valuation is crucial for homeowners, investors, and potential buyers in Melbourne. The valuation fees in this vibrant city can vary significantly based on several factors, including the property type, size, and the level of detail required in the valuation report. This article sheds light on what you can expect to pay for a house valuation in Melbourne, helping you to budget accordingly and make informed decisions.

Key Factors Influencing House Valuation Costs

The cost of a house valuation in Melbourne is influenced by various factors, each playing a crucial role in determining the final fee. Here’s a closer look at these key elements:

  • Property Type: The nature of the property, be it a residential home, apartment, or commercial space, significantly impacts the valuation fee. Commercial properties typically demand a higher valuation cost due to their complexity and the additional factors that need to be considered.
  • Property Size: Larger properties require more time for a thorough inspection, resulting in higher valuation fees. The size of the land and the building’s square footage are both taken into account.
  • Level of Detail: The extent of detail required in the valuation report can influence the cost. A comprehensive report that delves into every aspect of the property’s value will incur a higher fee than a more straightforward valuation.

Understanding these factors provides a solid foundation for estimating the potential cost of a house valuation in Melbourne.

Estimating Valuation Fees in Melbourne

While the cost of house valuations can vary widely in Melbourne, obtaining a rough estimate can guide you in the right direction. Here’s a breakdown of potential fees based on different property types and sizes:

Residential Properties

For standard residential properties such as houses and apartments, valuation fees in Melbourne can range from $300 to $600. However, these prices can fluctuate based on the property’s size and location within the city.

Commercial Properties

Commercial property valuations are generally more complex, with fees starting at around $600 and potentially exceeding $1,000 for larger commercial spaces. The business nature, property size, and required report detail will all play a role in determining the final cost.

Getting Accurate Estimates

To obtain an accurate estimate for your specific property, it’s advisable to reach out to professional valuation firms in Melbourne. They can provide tailored quotes based on your property’s unique characteristics, ensuring you have a clear understanding of the potential costs involved.

Choosing the Right Valuation Service

With a variety of valuation services available in Melbourne, selecting the right provider is crucial. Look for reputable firms with experienced valuers who understand the local market. Ensuring they are licensed and follow Australian Property Institute (API) standards will provide additional peace of mind.

Value for Money

While cost is a significant factor, it’s important to consider the value you receive from the valuation service. A thorough and accurate valuation can provide invaluable insights into your property’s worth, assist in property transactions, and aid in financial planning. Investing in a reliable service ensures you reap the benefits in the long run.

Checking Reviews and Testimonials

Reading reviews and testimonials from previous clients can provide a wealth of information about a valuation firm’s reliability and quality of service. This first-hand feedback helps in making an informed choice, ensuring you select a firm that meets your needs and budget.


Understanding the costs associated with house valuations in Melbourne is a vital step in your property journey. By considering the property type, size, and required report detail, you can estimate the potential fees and select a valuation service that offers the best value for your needs. Armed with this knowledge, navigating the world of property valuations becomes a much smoother process, leading to successful and informed property transactions.

Whether you’re a homeowner, investor, or looking to buy, being aware of the potential valuation costs ensures transparency and helps in making confident decisions in Melbourne’s bustling property market.

For sale sign in front of a house.

Getting the Most Value From Your Property Sale in Today’s Changing Market

The Australian housing market has seen significant changes in recent years. With rising interest rates, tightening credit conditions, and slowing price growth, many homeowners are wondering how to maximize their sale price in this shifting landscape. While the market poses some challenges, seller still have options to get top dollar for their property. This article explores strategies to optimize your Melbourne property valuation in today’s market.

Evaluating Your Local Market Conditions

The first step is understanding how your local market has been impacted. Sydney and Melbourne saw rapid price escalations from 2015-2017, while Perth and Darwin declined due to the mining downturn. The past year has seen a nationwide slowdown, but conditions still vary greatly by location. Reviewing the latest data on prices, stock levels, and demand in your suburb and city provides insight on competitiveness and leverage for negotiating. Track quarterly and monthly changes as well to spot emerging trends.

Pricing Your Property Accurately

This information will enable you to price your property appropriately. Overpricing leads to extensive time on market and “sticky” listings that deter buyers. Research sold prices for comparable homes in your area over the past 6 months. Consider size, condition, renovations, and other features that impact value. Aim for the lower end of the range; you can always negotiate up, but overpriced properties linger.

Preparing Your Property for Sale

A few key upgrades can maximize your home’s appeal and sale price. Tackle any deferred maintenance like leaky roofs or old wiring. Declutter and clean to showcase the space. Style the home neutrally so buyers can envision their furnishings. Minor kitchen and bathroom updates offer big returns if dated. Curb appeal matters, so focus on landscaping and exterior maintenance.

Marketing Your Listing Extensively

Your marketing strategy is vital for generating interest. Professional photography, 3D tours, and floorplans essentially sell the home online before anyone visits. Write a compelling listing description highlighting features, lifestyle, and location. Syndicate to real estate portals for maximum exposure. Leverage your agent’s social media and email campaigns. Install a for sale sign with agent contact details. Marketing gets buyers in the door so your home can sell itself.