Property Price Expecations

Property forecasts can provide valuable market insight, but they shouldn't be confused with a property valuation.

According to NAB's latest Residential Property Survey, property professionals now expect Victorian house prices to fall by an average of 4.5% over the next 12 months, while national prices are forecast to decline by 2.5%. 

Forecasts provide a broad outlook for the market as a whole. However, they don't account for the unique characteristics of an individual property or the conditions affecting its local market. An independent valuation does exactly that, drawing on recent comparable sales and current market evidence to determine a property's current market value.

That's an important distinction for lenders, insurers and insolvency practitioners, who rely on an objective assessment of current market value rather than a prediction of future price movements.

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Need an independent residential property valuation? Mason's Valuation Office provides residential property valuations across Maroondah, Darebin and Merri-bek. Contact us on 0417 741 481 or visit https://propertyvaluation.melbourne/about-us/#contact.