Estimated property value by ANZ dropped

[samsinclair]

Hope anyone here can enlighten me what could be happening before I talked to the bank. I noticed the Estimated property value reported by ANZ for my property in Hamilton dropped drastically after the cut in ORC. Few weeks ago, when I logged into my account and check my home loan, and Your Property, the Estimated property value was $500k (range $485k - $515K) but few days ago it is


Estimated property value

$414k
Estimate range: $406k – $422k
Estimate date: 11 Aug 2019

Have been waiting to use equity on this house and this is not looking good!

[nick000]

That's just computer generated. They'll want a valuation of you decided to do something. That'll be more accurate

[samsinclair]

Right, was just thinking too fast

[donna]

go to homes.co.nz and put in your address - that is reasonably accurate based on recent sales data

cheers,

Donna