How do property valuers determine the value of a property?

Property valuers use a range of methods to determine the value of a property. The most common method is to compare the property to similar properties that have recently sold in the area. This is known as the market value method. www.melbourne-valuations.com.au

Other methods that may be used include the income method, where the property is valued based on the income it is expected to generate; and the replacement cost method, where the property is valued based on the cost of replacing it.

Which method is used will depend on a number of factors, including the type of property being valued and the purpose of the valuation.