What does market value mean?
Market value is a reasonable price range expected at a specific date between informed and willing parties. An asking price, a completed transaction price and a formal appraisal are not the same thing.
A professional assessment builds a defensible range by considering current competition, buyer behaviour and the property's individual characteristics.
The main value drivers
Location is the starting point, but properties on the same street may differ substantially because of floor level, aspect, natural light, view, layout, building quality and legal status.
- Net and gross area and the efficiency of the layout
- Floor, aspect, daylight, view and noise
- Building age, maintenance, lift and parking
- Title status, occupancy and mortgage suitability
- Current local supply, demand and completed transactions
How comparable analysis works
The most relevant comparables are recent, close to the property, of the same use type and physically similar. A broad neighbourhood average is rarely enough.
Public asking prices should not be treated as completed sale prices. Marketing time, negotiation margin and condition must be considered together.
Information to prepare before selling
Title information, usable area, service charges, renovation history, occupancy and the property's strongest features should be verified before marketing begins.
- Confirm title and municipal information
- Prepare current photography and measurements
- Separate competing listings from completed transactions
- Define the likely buyer profile
- Align pricing with the marketing strategy
Indicative valuation versus formal appraisal
An indicative market valuation supports pricing and marketing decisions. A formal report produced for lending or a regulated purpose follows a different process.
Use an authorised specialist whenever a bank, authority or legal transaction requires a formal report.
Frequently asked questions
Is an online valuation final?+
No. Online information is a useful starting point; the property and its documents should be inspected for a reliable range.
Is it better to start with a very high asking price?+
Not necessarily. A price well above the market can reduce qualified demand and extend marketing time.
When should a valuation be refreshed?+
Refresh it when market conditions, the property's condition or the intended sale timeline changes.
This content is for general information and is not legal, tax or formal valuation advice. Confirm current requirements with the relevant authorities and qualified advisers before a transaction.