
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
You need a property valuation when selling a property or when buying one and applying for a home loan. A qualified valuer will assess the property and determine a likely idea of its worth. This assessment costs money, but some lenders offer free property valuations.
There are certain factors which are used to help valuers determine the monetary value of a property, including location, building condition, fixtures/fittings and the market in the area.
A property valuation from an independent valuer can cost between $200 and $600. Lenders often charge this to you as a valuation fee. But many lenders offer free property valuations.
The loans in this table have no valuation fee or offer free valuation up to a certain limit. Always confirm all fees and charges with the lender when applying.
There are many property sites offering free online price estimates. To get one, all you need is a few details like the property address and your email address. These estimates can be very helpful when researching property prices but they are not a replacement for an in-person valuation by a professional valuer.
There are a few reasons why you may need a property valuation.
When obtaining a loan a bank prefers to use their own valuer to ensure their strict guidelines are met. If you choose to obtain your own property valuation from an independent valuer then the bank can still choose to perform their own valuation.
While many loans offer free valuations, this usually only covers the first valuation. If you need to get another valuation within the same loan for any reason, this often won't be covered.
Also, bear in mind that homes in regional areas might cost more to value as they may be more difficult for valuers to get to. In some cases, these homes may attract a valuation charge even if valuations are usually free to other borrowers.
A property valuation is performed on behalf of the lender and will usually be below market value, because it is used to determine the minimum price the house could be sold for in order to protect the lender. A market appraisal is performed by a real estate agent who is acting on behalf of the vendor. The estate agent is using the same factors to determine value but is looking to get the highest possible price for a property.
Read More: Market valuation vs bank valuation
Your guide to home loan LVRs and how you can determine your loan to value ratio.
A complete guide to obtaining the best solar panel quotes in Melbourne.
Need an owner-occupier home loan? Compare rates, understand home owner tax rules and more.
Find out what a fragile item removal service can do to help you move your items.
Property expert Lloyd Edge shares his insights on the property pitfalls buyers and owners have struggled with in this (unprecedented) year.
Borrowers will be able to tap their phone and buy a coffee – via their home loan.
Intellectual property agreements protect your business when buying, selling or transferring IP. Here’s what you need to know about these agreements and where to find templates.
A detailed explainer of the concept of home equity and how property owners can make use of it.
Hire a professional to transform your home with a fresh lick of paint.
Read Finder's guide to understanding principal and interest home loans.
Wondering how I’m able to get a bank valuation report on a property.
Hi Lessa,
Thank you for getting in touch with Finder.
Kindly contact your chosen bank for your property valuation report needs. Some banks that offer free property valuation report are AMP, ANZ, Macquarie Bank, NAB, Suncorp, St. George and Westpac. You may also seek help from a mortgage broker on this matter.
I hope this helps.
Thank you and have a wonderful day!
Cheers,
Jeni
Hi, we need an accurate valuation on a property that has no mortgage & have had two real estate agents come thru with wildly varying figures. We don’t know which one to believe and would prefer a precise and accurate value. Any suggestions?
Hi Kym,
Thanks for reaching out.
While we are unable to recommend a particular real estate agent, you may want to compare real estate agent proposals for free with Commingle on this page. Simply enter your details on the form and click “Enquire Now”.
Meanwhile, you may want to go through our guide on how to select the right real estate agent on this page.
I hope this has helped.
Cheers,
Liezl
I just want to get a valuation on a flat we own back in 1993. How do I get this information?
Hi Martin,
Thanks for your question.
You may want to get in touch with the Valuation Office in your state to get that information.
Cheers,
Anndy
Hello. When a bank gets a valuation done as part of the loan process is the purchaser/customer entitled to receive a copy of the valuation report? I know the bank tells you the valuation is for bank internal purposes only but can they legally withhold this information. I am particularly interested because the customer might need a copy of the valuation for tax purposes when they want to sell an investment property.
Cheers,
Cam.
Hi Cameron,
Thanks for your comment.
This depends on the lender but they usually do provide you a copy of the valuation, you’ll just need to request a copy directly with them.
Cheers,
Shirley