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adelaidepropertyvaluations.com.au · South Australia

Property valuation in Adelaide

Adelaide is the capital of South Australia, a city on the Adelaide Plains with Gulf St Vincent to its west and the Mount Lofty Ranges to the east. According to LJ Hooker, a property valuation is a figure worked out by a qualified valuer, often needed where a definitive figure is required.

What a property valuation is

According to LJ Hooker, a property valuation is a figure worked out by a qualified valuer. A first-time sellers' guide published by LJ Hooker describes it as the number often needed where a definitive figure is required, such as for a bank or a home loan, or to set a value on a deceased estate. The guide notes that a valuation costs money to obtain.

The LJ Hooker guide calls valuing a complex task. It warns that online tools and resources may not use the latest data, so there is a risk of overpricing or underpricing the home, and it says that when a property is first advertised, most people will be looking at the listing. The guide suggests talking to a professional, such as a local real estate agent.

What a valuation takes in

LJ Hooker's guide lists what a valuation takes in: where the property is, the features of the home, the condition of the building, and the zoning set by the local council. It also takes account of any building faults, and of caveats and encumbrances on the property.

The LJ Hooker guide says a valuation generally sits on the lower side and does not take into consideration the emotion of a buyer.

According to LJ Hooker, a property valuation is a figure worked out by a qualified valuer.

Valuation and appraisal side by side

LJ Hooker's guide sets a valuation beside the appraisal a selling agent provides. According to the guide, appraisals are given by licensed real estate agents, who run a comparative market analysis, looking at similar properties sold in the past 90 days. The guide says a closer match between the property and others sold nearby makes for a more accurate appraisal, and that agents also consider current competition, broader market trends, and the structure and condition of the property.

An appraisal is informal, the guide says, and can differ from one agent to another. The guide says the figure an agent gives reflects what that agent thinks could be obtained by listing the property with them. The guide says a professional valuer, by contrast, may provide a figure that is merely based on market analysis and does not reflect an individual buyer's interest in the home, which could mean a lower number.

About Adelaide

Adelaide is the capital of South Australia, set on the Adelaide Plains with Gulf St Vincent to the west and the Mount Lofty Ranges to the east. The traditional owners of the region are the Kaurna, whose name for the city centre and the surrounding Park Lands is Tarndanya. In 2021, Greater Adelaide had 1,387,290 residents, with a median age of 39, and its metropolitan area takes in 19 municipalities.

Adelaide was founded in 1836 as the capital of a British colony settled by free colonists, and named for Adelaide of Saxe-Meiningen, the wife of King William IV. Colonel William Light laid out the city centre as a grid, with broad boulevards and generous public squares, ringed by parks that now hold national heritage listing. The colonial city came to be known as the "City of Churches" for the range of faiths practised there.

Timeline

  1. 1836The city was founded, and colonial government in South Australia began on 28 December.
  2. 1841Construction of the Adelaide Gaol commenced.
  3. 1860The Thorndon Park reservoir opened, giving the city an alternative water supply.
  4. 1954Adelaide's largest recorded earthquake, reported magnitude 5.6, was centred 12 km from the city.
  5. 1975South Australia was the first state or territory to decriminalise consenting homosexual acts.
  6. 2020The Adelaidean, the city's tallest building, was completed on Frome Street.

Questions

What is a property valuation?
According to LJ Hooker, a property valuation is a figure worked out by a qualified valuer. A first-time sellers' guide from LJ Hooker says one is often needed where a definitive figure is required, such as for a bank or a home loan, or to set a value on a deceased estate, and that it costs money to obtain.
How does a property valuation work?
The LJ Hooker guide calls valuing a complex task. It takes in where the property is, the features of the home, the condition of the building, local council zoning, caveats and encumbrances, and any building faults, and the guide notes that valuations generally come in on the lower side.
What is the difference between a property appraisal and a property valuation?
LJ Hooker's guide says a professional valuer may provide a figure that is merely based on market analysis and does not reflect an individual buyer's interest in a home. The guide says an appraisal is given by a licensed real estate agent, is informal, and can differ between agents, reflecting what an agent thinks could be obtained by listing the property with them.
How many people live in Adelaide?
In 2021, Greater Adelaide had 1,387,290 residents, with a median age of 39. The city's metropolitan area takes in 19 municipalities.