How Much Is My House Worth?
A comprehensive guide to property valuations in Australia (2026). Understand what your property is worth and how valuations work.
How Property Valuations Work in Australia
A property valuation is a professional estimate of how much your property is worth at a specific point in time. In Australia, there are several types of valuations used for different purposes.
Bank Valuation
Ordered by lenders when you apply for a home loan or refinance. The bank valuation determines how much the lender is willing to lend against the property. It is typically conservative and may come in lower than market value. Cost: usually covered by the lender, or \$300–\$600 if charged.
Independent (Market) Valuation
Conducted by a certified property valuer for sale, purchase, settlement disputes, or legal matters. This provides the most accurate estimate of market value based on comparable sales, property condition, and location factors. Cost: \$300–\$1,000+ depending on property type and location.
Statutory Valuation for Rates and Land Tax
Councils and state revenue offices use statutory valuations, but not always the same valuation basis. A notice may show site value, capital improved value, net annual value or gross rental value. Read the land tax vs council rates guide before choosing a figure for a calculator.
Factors That Affect Property Value
Many factors influence how much your property is worth. Some are within your control, while others depend on the broader market.
Location
The single biggest factor. Proximity to the CBD, schools, transport, shops, parks, and waterfront all affect value. Street position, aspect, and views also matter significantly.
Property Condition
Renovated kitchens, bathrooms, and well-maintained gardens add value. Structural issues, outdated features, and deferred maintenance reduce it. Presentation matters at appraisal time.
Market Conditions
Supply and demand, interest rates, economic confidence, and population growth all drive property prices. A strong market with low stock will push values higher.
Zoning & Development Potential
Properties zoned for higher density or mixed use may carry a premium due to development potential. Heritage overlays or flood zones can restrict what you can do and affect value.
How to Get a Property Valuation
There are several ways to estimate or determine your property's value, depending on your needs and budget.
Certified Property Valuer
For the most accurate valuation, engage a certified practising valuer (CPV) through the Australian Property Institute. They conduct a physical inspection and provide a formal report. Cost: \$300–\$1,000+. Best for: selling, refinancing disputes, legal matters, deceased estates.
Real Estate Agent Appraisal
Most agents offer free property appraisals to win listings. They assess comparable sales and provide a market price guide. While free, keep in mind agents may have an incentive to quote higher to secure your business.
Online Estimates
Websites like Domain, REA, and CoreLogic offer automated estimates based on recent sales data and algorithms. These provide a rough guide but can be inaccurate for unique properties, renovated homes, or areas with few recent sales.
Council Rates Notice
A council rates notice can show one or more statutory values, but the rating basis varies by jurisdiction and council. It is not a market valuation and the value used for council rates may differ from the taxable land value required for land tax.
Use Our Calculators
While we don't provide automated property valuations, our free calculators can help you make informed decisions based on your property's value.
Home Equity and LVR Calculator
Estimate equity and LVR from a value and mortgage balance
Stamp Duty Calculator
Calculate stamp duty at your property's current value
Capital Gains Tax Calculator
Estimate CGT if you're selling an investment property
Mortgage Repayment Calculator
Calculate repayments if refinancing at current value
Suburb Profiles & Median Prices
Browse median house and unit prices by suburb