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E-Valuer Report


An E-Valuer gives you an instant estimate of the current market value for a property. It is an Automated Valuation Model (AVM) and is based on recent, nearby comparable sales. Ideal for when preparing for negotiations or looking to see how much your property is worth before selling, an E-Valuer also gives you:
  • Recent, nearby comparable sales, also mapped out for convenience
  • The property's Rating Value
  • Additional property details including floor and land area and construction materials.
 

Accuracy

E-Valuers are tested every week against property sales from the last six months. The results show that nationally E-Valuer consistently values properties within 10% of the actual selling price over 69% of the time, and within 20% of the selling price for over 93% of properties.

Internationally, being within 10% of the actual selling price approximately 65% of the time is considered to be very good, indicating that the performance of our E-Valuer is world class.

To help you understand the accuracy of your E-Valuer we provide a confidence level indicator, based on a Forecast Standard Deviation (FSD) calculated for each estimate. The FSD calculation is based on analysis of the comparable sales used by the E-Valuer to gauge how accurate the E-Valuer is likely to be.

The FSD represents the probability that an E-Valuer will fall within 68% (one standard deviation) of the actual market price. The lower the FSD the closer the estimated value is likely to be to the actual sales price. For example — if a property shows an FSD of 10%, this means there is a 68% probability that the actual market value will fall within ± 10% of E-Valuer's estimated value.

We also provide a visual confidence scale in relation to the FSD. When the confidence level is medium to high you can be more assured that the estimated value is accurate. If you see a low confidence level, it doesn't necessarily mean that the estimated value is inaccurate. Instead, it normally means that the property or area has some variances or unique attributes that make it difficult to find similar properties to compare it with. When this occurs we recommend you investigate the comparable sales displayed more carefully.

 

Availability

Some of the reasons why an E-Valuer might not be available or where the E-Valuer may be outside the value range include:

  • There are not enough comparable sales. For an E-Valuer to be available for a property, there needs to be at least 3 comparable sales and they need to be recent. To be classed as comparable sales they need to have similar attributes such as the property value, land area and floor area.
  • A property having unique characteristics, such as being on the waterfront or a heritage property. This will often result in there not being enough properties in the area that would be considered to be comparable. In this instance we recommend that you get a Full Market Valuation.
  • The property is leasehold. For leasehold properties, the E-Valuer estimate is not based on the property being sold as leasehold, instead it is calculated on the basis that it is a freehold property. Where a property is identified as leasehold in the District Valuation Roll this will be displayed above the Estimated Value on the E-Valuer report, however you can also check whether a property is leasehold by purchasing a Certificate of Title details report.
  • High buyer demand or emotional appeal for a property pushing up the selling price.
  • Significant improvements may have been made to a property that are not yet reflected in the Rating Valuation. If you are looking to sell a property where renovation work has not yet been reflected in the Rating Value, we recommend that you get your Rating Value reviewed.
  • It is deemed to be a TC3 or Red Zone property as a result of the Christchurch earthquakes. This is reevaluated periodically as more information becomes available.

Other Reports that might interest you:

E-Valuer Summary Report


Pay-as-you-go pricing:
$47.50
Corporate user pricing:
$29.95*
How To Purchase a report
Evaluer
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* Price shown excludes GST, Corporate accounts incur a minimum charge of $50 per month plus GST.
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