22/06/2026
🏡 ASK FEE: GV vs Market Value
One of the most common questions I get asked is:
"My GV is $850,000, so is that what my home is worth?"
The short answer? Not necessarily.
🏛️ Government Valuation (GV)
Your GV – also known as Rateable Value (RV) or Capital Value (CV) depending on your council – is set by the council and is primarily used to help calculate rates. It is updated periodically and is based on market information available at the time of assessment.
📊 Market Value
Market value is what a willing buyer is prepared to pay for a property in today's market. It is influenced by supply and demand, buyer competition, interest rates, location, presentation and recent comparable sales.
Set by Council vs Set by Buyers
A GV is determined by the council. Market value is ultimately determined by what buyers are willing to pay.
Used for Rates vs Used for Sale Price
Councils use GVs to apportion rates. Buyers and sellers use market value to negotiate a sale.
Updated Periodically vs Changes with the Market
A GV may be several years old, while market value can change quickly as market conditions shift.
Not a Valuation vs Reflects Demand
A GV is not a formal valuation and should not be relied upon as a property's current sale price. Market value reflects current buyer demand and local market conditions.
The most accurate way to understand what your property may sell for is to look at recent comparable sales and current buyer activity in the market.
If you'd like an up-to-date assessment of your property's market value, feel free to get in touch.
📞 Fee Ensor | 021 705 014
🏡 Ensor & Co Realty