In a world where there is an app for most things, it’s a fair question to ask why a generic online report or app-based figure can’t be used for those times when you’ve been told you need a property valuation.

To be honest, there might very well be times when you can get away with a valuation based on automated algorithms and AI… but this will only be the case if your property is a bog-standard home with no special features and the purpose is very straightforward (like finding the market ‘value’ of a house you are thinking of buying, for example, or wanting a ballpark figure for residential sale). And that’s a pretty big BUT.

Currently, Australian law requires a Certified Practising Valuer who is accredited with the Australian Property Institute (API) to be involved in most types of property valuation – including any transfers of assets relating to estate planning, family law settlements, Stamp Duty calculations, Capital Gains Tax liability, or SMSF audits.

So, by all means, order a generic online report if you just want to see how much your place is worth from someone who isn’t just the real estate agent interested in selling it… but if you need a valuation for any other reason, you’re going to need a full valuation report that includes a physical inspection by someone who is qualified.

The current level of qualification for a Certified Practising Valuer in Australia is a Masters degree or higher, and at the moment AI doesn’t fit the bill.

So forget the apps and hire a real person to get the job done right. You can also call me or drop me an email if you want to know what kind of valuation you need in your personal context.

Or ask your preferred local solicitor or conveyancer about it and have them send me instructions… It’s not as fast as an app but it will have a much more comprehensive result!