5 Key Factors That Affect Your Property’s Valuation

If you’re considering selling a property, obtaining an accurate property valuation is essential. The price is too high, and you risk scaring off buyers. Price too low, and you could be leaving money on the table.

While you can get a quick property valuation online, the true value of your home comes down to a mix of factors that only a professional can weigh up. At Stockdale & Leggo, we’ve been guiding Australians through the selling journey since 1936, and we know the ins and outs of what really drives the valuation of property in today’s market.

Here are five key things that can influence your home’s worth.

1. “Location, Location, Location”

It’s the classic saying in real estate, and for good reason. Where your property sits plays one of the biggest roles in its value. Buyers will always look at things like:

• Proximity to schools, shops, and public transport
• Access to lifestyle amenities like parks, cafés, and beaches
• The overall reputation and liveability of the suburb

In areas where demand is high and supply is limited, property values tend to rise naturally. If you’re considering a property valuation in Melbourne or other competitive markets, location will almost always be the number-one factor.

2. Size and Layout of the Property

The more usable space your home has, the higher the valuation is likely to be. Valuers look closely at:

• Total land size
• Number of bedrooms and bathrooms
• Functional living spaces and open-plan layouts
• Outdoor areas like gardens, patios, or balconies

But it’s not just about square metres on paper; the flow and practicality of the home matter, too. For example, an extra bedroom tucked into an awkward space may not add as much value as a well-designed open kitchen and dining area.

3. Condition and Presentation

A property that’s well-maintained and presented can significantly boost its value. Things like structural soundness, updated kitchens and bathrooms, and modern fixtures are appealing to buyers and valuers alike.

Even smaller touches can help. Before your property valuation, it’s worth:

• Tidying up the garden
• Freshening interiors with a coat of paint
• Decluttering and repairing minor damage
• Completing any unfinished renovations

These improvements can make a strong first impression and highlight your property’s potential.

4. Recent Comparable Sales

Professional valuers and agents don’t work in isolation; they look at what’s happening in your neighbourhood right now. Comparing your property to similar homes that have recently sold helps set a realistic benchmark.

For instance, if a home with the same number of bedrooms on your street sold last month, that sale price will influence the valuation of your property. Of course, differences like land size, renovations, or outlook will be adjusted for, but recent sales are always a reliable guide.

5. Market Conditions and Buyer Demand

Broader economic and market conditions also significantly influence property valuations. Interest rates, employment levels, and buyer confidence all affect how much someone is willing to pay for a home.

When demand outweighs supply, values tend to climb. Conversely, if the market cools or there’s an oversupply of properties in your area, valuations may soften. This is why it’s so important to get up-to-date, local advice rather than relying on outdated figures or generic online tools.

Why Professional Valuation Matters

While property valuation online tools can be a handy starting point, they often don’t capture the full picture. They can’t see your recent renovations, your home’s unique charm, or the fact that it sits on the best street in the suburb.

That’s where a professional valuation or real estate appraisal really counts. At Stockdale & Leggo, our team combines decades of experience with local knowledge, giving you an accurate understanding of your home’s true market value. We don’t just crunch numbers; we see the bigger picture and guide you towards the best outcome.

Find Out What Your Home Is Worth

If you’re planning to sell soon or simply curious about your property’s value, getting expert advice is always a smart move. Our friendly team at Stockdale & Leggo is here to help with accurate, local insights you can trust.

Call us today or contact us online to book your property valuation and take the first step towards your next move.