18/08/2026
How to value a property like a Valuer
One of the biggest mistakes buyers make is not comparing like with like.
A Queenslander and a modern contemporary home may be in the same suburb and on similar land, but it is difficult to compare such different styles that appeal to different buyers.
When assessing value, I look at:
1. The property itself
Location, land, style of home, condition, layout, accommodation, aspect and improvements.
2. Comparable sales
Find genuinely comparable properties — not just sales from the same suburb. A sale from 1–2 months ago is generally far more relevant than one from 6–12 months ago, particularly in a changing market like currently.
3. Adjust for differences
Renovation, land size, position, condition, accommodation and other factors can materially impact value.
4. No good recent sales?
The Summation Method can provide a useful secondary approach:
Land value + added value of improvements = indicated value.
In established areas, land value can be assessed using sales of older properties purchased primarily for their land, such as homes bought for demolition and redevelopment. Improvements can then be assessed using replacement cost less depreciation.
5. Know the suburb
Every suburb has nuances that influence value — premium streets, inferior pockets, noise, views, school catchments, flood constraints and development potential.
6. Apartments require additional analysis
Aspect, floor level, floor plan, natural light and view quality can significantly influence value. And don't just assess the view today — consider whether it could be built out.
Price per square metre can also be a useful secondary method when comparing similar apartments.
The key takeaway:
Compare like with like. Use current evidence. Understand the property and understand the suburb.
That's how you form a well-supported opinion of value.
Know the value before you negotiate the price.
www.buywithguy.com.au
Photo: Successful auction home purchase 2025.