Knowing your home’s value helps you make informed decisions about selling, refinancing, or investing.
Learn the different ways to estimate your property’s value in Australia.
Understand what affects property prices and how valuations work.
See what steps to take once you know how much your house is worth.
Use your home’s value to plan selling, refinancing or equity
If you’re wondering how much your house is worth, you’re not alone.
Many homeowners check their property’s value when they’re thinking about selling, refinancing, renovating, or accessing equity, or simply understanding their financial position better.
After several years of price movements and interest rate changes, Australia’s property market has entered a period of greater stability in many areas.
In this environment, understanding your home’s current market value can help you make more confident and informed decisions.
There’s no single “right” number when it comes to your property’s value. Instead, a reliable estimate usually comes from combining professional insights, comparable sales data, and valuation tools, each offering a different perspective on what your home may be worth today.
Why knowing your home’s value matters
Your property’s value isn’t just relevant when you’re planning to sell. It plays a role in many financial decisions throughout home ownership.
For selling your home
Knowing your home’s approximate value helps you:
Set a realistic price range before listing
Understand buyer expectations in your local market
Avoid underpricing or overpricing your property
Agents and buyers often rely on comparable recent sales, so having a clear sense of value early can guide your selling strategy.
For refinancing your home loan
Lenders use your property’s value to calculate your loan-to-value ratio (LVR).
A lower LVR can:
Improve your chances of approval
Open access to different loan products
Help you negotiate interest rates or features
If your property’s value has increased since you last refinanced, you may have more flexibility than you realise.
For accessing equity or renovating
Equity is the difference between your home’s value and what you owe on your loan. If your property value has increased or your loan balance has reduced, you may be able to:
fund renovations or upgrades
consolidate debts
invest in another property
Understanding your property’s value is the first step in assessing how much equity you may have available.
You might also be interested in: Refinancing your home loan to access equity
How to find out what your house is worth
There are several ways to estimate your property’s value, each with different levels of accuracy and purpose.
Step 1: Get a free online property report
Online property reports are a common starting point. These reports typically use recent sales data, suburb trends, and property attributes to provide an estimated value range.
They can be useful for:
general insight into your property’s value
tracking changes over time
understanding recent activity in your area
Important: Online reports provide estimates only, they are not formal valuations. Try our Home Value Calculator to get an estimate based on available data.
Step 2: Check comparable sales in your suburb
Comparable sales (often called “comps”) are recently sold properties that are similar to yours in:
location
size and layout
condition
age and features
Looking at recent sales in your suburb can help you understand what buyers are paying for properties like yours.
Keep in mind that:
market conditions can change quickly
two similar homes may still sell for different prices
Comparable sales are typically used alongside other valuation methods.
Step 3: Book a professional property valuation
For lending, refinancing, or legal purposes, lenders usually require a formal property valuation.
This is completed by a licensed property valuer and may involve:
an onsite inspection or desktop assessment
analysis of comparable sales
consideration of market conditions
The valuer provides an independent assessment that your lender can rely on when making credit decisions.
Step 4: Speak to a mortgage broker or agent
A mortgage broker can help you understand how your property’s value affects:
your borrowing power
your refinance options
your access to equity
An agent, on the other hand, may provide insights into buyer demand and pricing expectations if you’re considering selling.
Your local Aussie Broker can help you understand how your home’s value fits into your broader financial picture.
What affects property value in Australia?
Property values are influenced by a mix of broader market conditions and individual property characteristics.
Housing demand and supply
High demand combined with limited supply can support higher prices, while oversupply may place downward pressure on values.
Local market trends
Property values can vary significantly between suburbs and regions. Factors such as population growth, infrastructure projects, and employment opportunities all play a role.
Location and amenities
Proximity to schools, transport, shops, and lifestyle amenities often influence buyer demand and perceived value.
Property size, layout, and condition
The number of bedrooms, bathrooms, land size, and overall condition of the property can affect value. Functional layouts and well-maintained homes tend to appeal to a broader range of buyers.
You might also be interested in: How is property value calculated in Australia?
Property report vs property valuation: What’s the difference?
While both can be useful, property reports and formal valuations serve different purposes:
Feature | Property Report | Formal Valuation |
Cost | Often free | Usually paid |
Purpose | General insight | Lending or legal use |
Who provides it | Data companies or brokers | Licensed property valuer |
Accuracy | Estimate only | Independent assessment |
Turnaround | Immediate | Several business days |
Property reports are helpful for early research, while formal valuations are required for financial decisions involving lenders.
Understanding market value vs bank valuation
Market value reflects what a willing buyer may pay in current conditions.
Bank valuation is a conservative assessment used to manage lending risk.
It’s common for bank valuations to differ from market expectations, especially in changing market conditions.
What to do once you know your property’s value
Once you have a clearer picture of your home’s value, the next step depends on your goals.
If you’re thinking about selling
set a realistic price range
compare recent local sales
speak with an agent about buyer demand
If you’re considering refinancing
review your loan-to-value ratio
check whether you could access different loan features
compare lenders and rates
Use our Borrowing Power Calculator to explore how your updated value may affect your options.
If you’re planning to renovate or invest
estimate how much equity you may have
consider how improvements could affect future value
speak with a broker before committing to new debt
Read our Using equity to buy a second home or investment property guide for more detail.
How to increase your property value before a valuation
While market conditions matter, presentation and maintenance can still make a difference.
Practical steps include:
refreshing key rooms like kitchens or bathrooms
improving street appeal
decluttering before inspections
fixing small maintenance issues
These steps won’t guarantee a higher valuation, but they can help your property make a stronger first impression.
Property value trends in Australia
Property values across Australia have experienced periods of fluctuation in recent years.
In more recent periods, values in many areas have shown signs of stabilisation, with performance varying by location and property type.
Because trends differ widely between suburbs and regions, it’s important to look at local data rather than relying on national averages.
Want to understand your home’s current value, and what could it mean for refinancing, investing, or accessing equity?
Book a free^ chat with an Aussie Broker to explore your options and get started.