How Does Property Pricer Work?

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 Ranking Level (PRL). The PRL 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 Value Level (SVL). This SVL 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 PRL and the SVL 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.

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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.

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Step 3: Special Features

Land size and features that make the property unique e.g. pool, entertaining area, security system, granny flat etc.

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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?

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Step 5: Property Location

Search for your suburb or town e.g. Coogee or Box Hill

Powered by Core Logic. CoreLogic is the best and most reliable source of sales data for residential properties.

 

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Underlying Total Property VALUE $

$986,459

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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?

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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 Ranking Level (PRL).

Second variable:
Actual sales data from comparable properties in the area, in total being our Suburb Value Level (SVL).

Example of how Property Pricer uses regression analysis to acquire property values:

Variable 1: PRL is 6/10 x Variable 2: SVL 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.

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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?

Property valuation tools comparison

We offer a unique method that comes with an unmatched level of accuracy. Download a Sample Property Pricer report.

Property PricerCore Logic*On The HouseDomainrealestate.com.au
AccuracyHigh confidence 100% guaranteedLow to high confidenceLow to high confidenceLow to high confidenceLow to high confidence
Computer/algorithm generated or personally preparedPersonally PreparedAuto GeneratedAuto GeneratedAuto GeneratedAuto Generated
A single $ value or a broad range providedSingle ValueRange ValueRange ValueRange ValueRange Value
Can do recent date valuations
Can do retrospective valuations
Provides personal support by email or phone
Takes into account specific features of a property
Comparable properties are all recent sales that meet ATO requirements
Assess and comment on suitability of comparable properties
Price per valuation$89 + GST$25 + MembershipFreeFreeFree
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Our Commitment to 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."

Ross McLelland

Founder, Property Pricer

Trust Pilot

See what our clients have to say...

trustpilot stars Green
I am very pleased with the extra effort

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. After re-valuing the property they rang me to discuss to make sure I was happy. That's why we will continue to use PP for responding so quickly and being so helpful and not trying to tell me I was wrong as others I have dealt with in the past have done.

Simon Lee - Argentino Lee Accounting

trustpilot stars Green

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

trustpilot stars Green

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

trustpilot stars Green

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

 

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