Real Estate Valuations for Melbourne & Mornington Peninsula
What is a Property Valuation?
A Property Valuation, or Real Estate Valuation, is an objective and professional valuation of a property.
These words have specific meanings:

  • Objective: We deal with facts and figures – original costs, historic price trends, rental income, maintenance costs, and many other variables.
  • Professional: We are trained and certified in the valuation of property. This is our business. Our success depends on our reputation for accuracy and fairness.
  • Valuation: This means putting a monetary value on a property.
  • Property: This is real estate – a building, a vacant lot, a working farm, a commercial, retail, or an industrial property.
Who needs a Property Valuation?

You may need a professional property valuation if you:

  • Need an objective valuation on property for:
    • Family Law purposes
    • Tax reporting
    • Estate or Probate settlement
    • Investment or Development
  • Want to buy or sell real estate in Melbourne or the Mornington Peninsula, but you are not:
    • Familiar with price trends in the local market
    • Familiar with the best local agents
    • Aware of all the factors influencing a fair price for real estate
    • Comfortable negotiating a fair price
  • Need objective and professional advice for:
    • A feasibility study for development
    • Leasing arrangements
    • Real estate market research

Insight Property provides independent property valuation services to a wide range of clients in a timely and professional manner. All our valuations begin with a comprehensive property inspection conducted by a certified practising valuer, and include a detailed written report.

Property Valuation Services include:
- Current and Retrospective Market valuations
- Family Law valuations for divorce settlements
- Pre-Purchase valuations for buyers
- Pre-Sale valuations for sellers
- Mortgagee in Possession/forced sale valuations
- Self-Managed Superannuation valuations
- Capital Gains Tax valuations
- GST valuations
- Estate/Probate valuations
- Centrelink/asset test valuations
Our Clients include:
- Private citizens
- Solicitors
- Accountants
- Financial Advisers
- Real Estate Agents
- Body Corporate Managers
Timely Service means:
Reports are usually completed within 72 hours of the inspection of the property
Is a property valuation different from a real estate agent’s appraisal?

An independent property valuation and a real estate agent’s appraisal have different purposes.

A valuation is an opinion of the value of a property provided by professional real estate valuers without bias or influence. The valuation is suitable for many uses, including admission in a court of law, and for use by government bodies. Property valuers are the recognised experts in determining a property’s value.

A real estate agent uses local market knowledge to arrive at an appraisal – a selling figure – at which the property may successfully be placed on the market. This appraisal can be subject to many factors, but the purpose is to generate a timely sale at an agreeable price.

How much does a valuation cost?
The cost of a valuation varies according to the size, value and type of the property to be valued, as well as the purpose of the valuation. Our valuation fees start from $440 including GST.
The cost of a property valuation is usually tax deductible if the property is held for investment purposes.
What qualifications do real estate valuers have?
Real Estate valuers must complete relevant tertiary level qualifications and a further two years of initial professional practice, receive ongoing education, and be licensed or registered by the appropriate state body to practise as a qualified valuer.
In Victoria, it is the local branch of the Australian Property Institute (API).
Is your valuation different from a council rates notice?
Yes.
As discussed in previous sections, you may engage our valuation services at any time, on any specific property you own or are thinking of buying, and for your own purposes.
 
The council rates notice, or rating valuation, is prepared for the purpose of assessing rates and land tax of a property. It does not usually involve an internal inspection. It is prepared at a particular date. It is in effect for a specific period of time.

In line with State Government requirements for biennial property valuations, a council valuer conduct inspections of a limited number of properties, analyses market sales, rental data and commercial leases every two years to develop levels of value for land, buildings and rentals.

This information is then applied to individual properties, taking into account the different characteristics of each property.

Local council valuations are currently based on a level of value as at 1 January 2010.

The current council valuation became operative from 1 July 2010. The next valuation will become operative on 1 July 2012, based on the value of properties as at 1 January 2012.

The State Government also uses these valuations to levy land tax.