Accurately measures the predicted selling price of a property.

Unique use of sales data

PropertyPricer incorporates a unique adaptation of CoreLogic’s suburb / town sales data into its measurement formula. This calculates the important upper and lower end prices based on a ratio of one suburb to all others in the same area grouping. 

This feature called the ‘suburb / town price ratio index’ separates PropertyPricer from other valuation methods. Our unique formula allows for a direct price comparison between all suburbs and towns for similar properties (i.e. properties grouped into the same property points level).

PropertyPricer provides two critical very helpful property values:

  • The underlying value in normal market conditions for the lower end, the most likely and the upper end.
  • We then calculate the predicted selling price of the property in the current market for the lower end, the most likely and the upper end.

Suburb / town price ratio index explained

"I recently sold my house for $140,000 under what I could have got for it. I didn’t have an accurate figure on what it was worth in this current market until I valued it on PropertyPricer, which showed the most likely and upper end price I could have got."
Elaine
Vincentia, NSW
"We were thinking of moving out of the city and using PropertyPricer allowed us to see what the same size, style and quality of home would cost in other locations. It was so helpful to see that one of the suburbs we liked was at least $100,000 less than what we expected."
Elizabeth
Melbourne, VIC

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Suburb / town price ratio index explained

Simply put a ratio is a comparison of two numbers indicating their sizes in relation to each other.

PropertyPricer uses ratios to enable a direct price comparison between properties of similar value levels between locations.

Using the ratio example of 1.7:1.0. The 1.0 is a fixed figure representing the average price of all properties sold in the city or the rest of the state or territory. 1.7 represents a single suburb or town compared to all the other suburbs / towns, and changes with every different location. A suburb or town with this ratio 1.7:1.0 is a relatively expensive area as it is 0.7 above the 1.0 average. If the ratio is 3.7:1.0, this is a very expensive area, as it is way above the average of 1.0. On the other hand, if a suburb or town has a ratio of 0.8:1.0 it is a relatively inexpensive area as it is just below the average of 1.0. If the ratio is 0.5:1.0, it is a very inexpensive area as it is way below the average 1.0.

A specific example would be a large executive residence in suburb x, which has a ratio of 1.2:1.0 and a price of around $1million. If we cut and paste that same property into suburb y, which has a ratio of 4.0:1.0 the price is around $4 million.