HOW DOES PROPERTY PRICER WORK?
To produce the most accurate valuation report possible for any property, we believe details matter. No two homes are the same and the unique features of each individual home are an important aspect of what determines its value, when this information is combined and analysed with market level data.
We start with our proprietary valuation tool, which allows us to enter all the unique property details of any property – everything from architectural style and building materials to recent renovations and local amenities. Each characteristic is assigned a certain number of points, reflecting its impact on the property’s overall quality and appeal.
These points form the basis of a Property Comparison Ranking (PCR). The PCR ranges from 1 (lowest standard) to 10 (highest standard), and represents the property’s non-monetary ‘score.’ To convert this score into a dollar value, we factor in the specific suburb or town’s market data. Our system uses a special adaptation of national sales figures to determine a Suburb/Town Comparison Value (SCV). This SCV adjusts the valuation to reflect the unique conditions of the area, ensuring the figure is as accurate and location-specific as possible.
Finally, we incorporate any current market conditions, such as local demand and supply trends, along with any known circumstances affecting buyers or sellers in that region. By combining the PCR and the SCV alongside real-time market intel, we arrive at a final figure that truly represents the property’s worth in today’s market.
If you’d like to learn more about how these calculations come together, click here to see our detailed explanation.
Step 1: Type and Size of the Building
e.g. 4 bedroom brick veneer house two or more levels, 200m2. Or a 2 bedroom unit/apartment, 80m2.
Step 2: Style, Condition and Room Sizes
e.g. Modern kitchen with high end appliances, bathroom renovated in the last 10 years, large media room and the floor coverings are in excellent condition.
Step 3: Special Features
Land size and features that make the property unique e.g. pool, entertaining area, security system, granny flat etc.
Step 4: Details about Aspect & Proximity
e.g. What is the aspect of the property (north or south facing)? Is it a short walk or drive to schools, shops, and public transport? Does it have a street or water view? What is the condition of the lawns and gardens?
Step 5: Property Location
Search for your suburb or town e.g. Coogee or Box Hill
Underlying Total Property VALUE $
$986,459
Step 6: Current Market Conditions & Emotional / Personal Circumstances
e.g. there is a shortage of properties so prices are increasing and there are many buyers. How motivated is the seller and buyer? How attached are they to the property?
Predicted Selling Price
$1,186,459
A Summary of How We Calculate Property Values
Property Pricer uses a unique model of key processes to determine the value of properties. The key steps involved are:
1. Regression Analysis:
This proven statistical tool is the first step in the process. It calculates the two main variables that influence property prices and provides a clear formula to guide the calculation of all property values.
First variable:
The key details and distinctive features of a property (e.g. size, condition, location), in total being our Property Comparison Ranking (PCR).
Second variable:
Actual sales data from comparable properties in the area, in total being our Suburb/Town Comparison Value (SCV).
Example of how Property Pricer uses regression analysis to acquire property values:
Variable 1: PCR is 6/10 x Variable 2: SCV is 5/10
(showing an indexed value for that location of $125,650)
Property Value = 6 x $125,650 = $753,900
2. Data Pool:
We use a large dataset, including CoreLogic, to create a dependable model that converts non-monetary property levels into monetary property values.
3. Model Application:
Once we finalize the calculation model, it is applied to each property to predict its value.
4. Validation and Refinement:
We carefully confirm and refine the calculated value of a given property by selecting three valid comparisons i.e. three equivalent properties in the same area.
In providing valid and detailed evidence to support the property valuation, the Property Pricer model provides assurance to clients, their auditors and the ATO.
Our Commitment to Innovation and Excellence
"At Property Pricer, we uphold the highest standards of professionalism, ensuring every valuation report is thorough, accurate, complete, and able to withstand scrutiny. Our unwavering commitment is to deliver class-leading, top-quality reports every time, guided by the principle: 'Is it a class act? Is it the best we can do?' If the answer is no, the report is not released. We will refine it until the answer is yes.
"Our goal is to empower you with reports that enable exemplary service to your clients and auditors, or provide you with precise information for critical property decisions. Any deviation from these standards, by us or others, we address promptly to elevate professionalism in property valuation services. We strive to provide unmatched service and quality, and we hope you recognise this dedication with every report you receive from Property Pricer."
See what our clients have to say...
I am very pleased with the extra effort they took to get the valuation accurate for a unique property that was much better than the description. They even rang an estate agent to get local knowledge about the property.
Simon Lee - Argentino Lee Accounting
The service is very efficient
The staff are friendly. The valuations provided are accepted by our SMSF auditors. All very good - a company we are happy to work with.
Ed Eikelboom - Oaktree Accounting
Fast, comprehensive...and accurate!
PropertyPricer was fast to respond to my request for a valuation report. I received the report within 24 hours of applying. The valuation report is easy to read, concise and covered everything I needed to provide my auditor.
Katie Steele - Crystal Wealth
Great tool for property
Your reports are the best I have seen, no irrelevant ’fluff’, and good supporting data. Auditors are going to love you.
Wald Warzynuik - My SMSF Auditors