In order to assess a property’s value, a valuer will measure the property, record details on the number and type of rooms, along with fixtures, fittings and any improvements. A property’s unique attributes will also be taken into account, such as:
- Building structure and condition.
- Building and structural faults.
- Standard of presentation and fit-out.
- Access, such as good vehicle access and a garage.
- Planning restrictions and local council zoning.
Based on the combination of these attributes, together with recent comparable sales in the surrounding area and prevailing market conditions, the valuer makes his assessment.