Whether you’re selling your home in Fitzroy, refinancing a townhouse in Carlton, or assessing a commercial asset in Docklands, understanding your property’s true value is essential. Property valuations Melbourne offer a reliable, independent way to determine fair market value for legal, financial, or investment purposes.
In this guide, we explain how the valuation process works, when to seek one, and what impacts property values in Melbourne’s ever-evolving real estate market.
What Is a Property Valuation?
A property valuation is a formal, written report prepared by a certified valuer that estimates the current market value of a residential, commercial, or industrial property.
It is:
- Legally recognised and accepted by banks, courts, and the ATO
- Based on objective analysis and local sales data
- Used in legal, financial, taxation, and real estate contexts
In Victoria, property valuers are generally accredited by the Australian Property Institute (API) and often hold the designation of Certified Practising Valuer (CPV).
When Should You Get a Property Valuation in Melbourne?
Valuations are required or recommended in several situations:
For Property Sales and Purchases
- Ensure your asking price aligns with market trends
- Avoid overpaying in competitive suburbs like Brunswick, Richmond, or Southbank
For Finance and Refinancing
Banks require certified valuations to assess equity and approve loans.
For Legal and Family Law Cases
Required for divorce settlements, family court disputes, and deceased estates.
For Tax and SMSF Compliance
Valuations are essential for CGT reporting, stamp duty, and self-managed super funds.
For Commercial and Rental Reviews
Business owners and landlords use valuations for lease negotiations and asset planning.
What Types of Property Can Be Valued in Melbourne?
Melbourne property valuers assess a wide range of real estate, including:
- Houses, townhouses, and apartments
- Retail shops, office buildings, and warehouses
- Industrial units and land subdivisions
- Development sites and mixed-use buildings
- Strata title and multi-dwelling complexes
How Is Property Value Determined in Melbourne?
Valuers follow a structured approach involving:
On-Site Inspection
The valuer will assess:
- Land size, shape, and zoning
- Building condition, age, and structure
- Renovations, extensions, and upgrades
- External features like driveways, fencing, or landscaping
- Orientation, views, and street presentation
Sales and Market Analysis
They’ll compare your property to similar properties recently sold in the area, adjusting for:
- Location within the suburb
- Features and finishes
- Market demand and local stock levels
Valuation Report Delivery
You’ll receive a report including:
- Property description
- Comparable sales
- Market commentary
- Final assessed market value
- Legal disclaimers and usage notes
Factors That Influence Property Valuations in Melbourne
Melbourne’s real estate market is shaped by various local influences, including:
Suburb Performance
- Premium suburbs like Toorak and Brighton attract higher values
- Emerging areas like Preston, Footscray, and Werribee are also growing in appeal
Condition and Modernisation
- Newly renovated or well-maintained homes often attract stronger valuation
- Properties in disrepair or with outdated layouts may appraise lower
Land Potential
Subdivision potential and zoning for medium/high-density development can boost land value.
Market Trends
Valuations reflect recent changes in buyer demand, interest rates, and auction clearance rates.
What Does a Property Valuation Cost in Melbourne?
Fees vary depending on property type and purpose:
| Valuation Type | Typical Cost |
| Residential home | $400 – $700 |
| Commercial property | $1,000 – $3,000+ |
| SMSF or CGT valuation | $500 – $900 |
| Urgent or court reports | Additional charges may apply |
Check whether your bank or legal provider will cover or reimburse valuation fees, especially for finance or settlement purposes.
How to Prepare for a Property Valuation
Here are a few tips to support an accurate result:
- Tidy and clean the interior and exterior of the home
- Provide access to all areas including garages, sheds, or under-house storage
- Offer documentation on renovations, building approvals, or rental history
- Highlight new features (e.g. solar panels, heating/cooling systems)
- Inform the valuer of any known issues or restrictions
Valuation vs Appraisal: What’s the Difference?
- Valuation = A certified, objective report accepted by courts, banks, and the ATO
- Appraisal = An informal price estimate by a real estate agent, useful for marketing but not legally binding
If you need to make decisions based on fact—not assumption—a valuation is the tool to rely on.
Conclusion
In a city as diverse and dynamic as Melbourne, property values can shift from street to street. Whether you’re a homeowner, investor, lawyer, or financial planner, a certified property valuation in Melbourne offers the professional insight you need to make accurate, data-driven decisions.
Need a valuation? Work with a local valuer who understands your suburb, your goals, and the complexities of Victoria’s property market.
