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Accuracy of QVonline valuations

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  • Accuracy of QVonline valuations

    Just wondering what people's experiences are and if they can give some examples of the registered valuations they've had done compared to the QVonline estimate. I've had 2 disappointing valuations done recently:

    1. QV estimate $273,000
    Reg val: $240K if some floor boards were fixed.

    2. QV estimate $378,000
    Reg val: $350,000.
    This is on an 18 month old house in top condition.

  • #2
    Hi there,

    There was some discussion about this awhile ago here. Note that the free offer referred to in the initial posts has expired. Buit there's some good reading otherwise...

    Last edited by BusyLizzy; 12-02-2007, 05:49 PM. Reason: Expanding original comment


    • #3
      My parents have a had a few QV valuations done and they don't believe they are worth the paper there written on.

      For example one of there properties had an online QV valuation of $450K yet a registered value done by a valuer of $950K however the property sold for $1.1 Mill.

      So it shows they can be all over the show.



      • #4
        Originally posted by BusyLizzy View Post
        There was some discussion about this awhile ago here.
        A good place to start. There's lot's there, but I concur with
        ChrisDes' reported comments of her/his parents.


        • #5
          One thing to bear in mind is that QV is calculating based on the information that its has, which in particular includes

          1. Information that may be out of date, if the market is softening quicky.

          2.Confirmed sales only.

          A valuer is able to keep his/her finger on the pulse more accurately, knowing more about recent sales and, perhaps more importantly, properties that were up for sale at a particular price and DIDN'T sell at that price and were witdrawn from the market.

          Having said that, the discrepencies above seem unusually large - maybe the valuers have got their conservative hats on at the moment.



          • #6
            QV Vs RV

            Had a property before Christmas which had a QV of between $750k-$820k. The RV came out at $635k
            For property financial solutions
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            • #7
              Originally posted by krispedersen View Post
              Had a property before Christmas which had a QV of between $750k-$820k. The RV came out at $635k
              Was that a property on the Shore Kris?
              If so, who did you use to value it?
              Jo Birch
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              • #8
                I had a QV recently, reckon it came out about right, maybe 1-2% under what a few 'experts' had put us at.

                I think if your getting one for a pretty standard house thats in the middle of the suburbs, similar-ish to those around it, you should be pretty right...

                If you're going for a unique house, one that has most of its value inside the house, or something extremely expensive, you'd be best to get a valuer in...in my opinion anyway
                Beginner ChCh Investor